From 1 April 2022, Plastic Packaging Tax (“PPT”) will be introduced in the UK. HMRC anticipates that PPT will affect 20,000 UK businesses that are either manufacturing or importing plastic packaging components. It is expected that there will be a projected 40% increase in the use of recycled plastic over the period 2022-2023 compared to current levels, leading to projected carbon savings of nearly 200,000 tonnes in 2022-2023 due to the diminished use of virgin plastic.
Source Deloitte
Latest Posts in "United Kingdom"
- Understanding VAT: How It Works, Its Impact, and Options for Reform in the UK
- UK Tribunal Rules Locum Doctor Supplies via Agencies Are VAT Exempt for NHS Trusts
- VAT Rules for Workwear, Uniforms, and Staff Clothing: What Businesses Need to Know
- Understanding E-Invoicing: Benefits, Challenges, and the Future for UK Businesses and Government
- How Overseas Businesses Can Reclaim UK VAT: Eligibility, Deadlines, and Key Conditions
