- The plastic packaging tax (PPT) has been in force for two years, requiring manufacturers and importers to pay £217.85 per tonne on chargeable plastic packaging components.
- HMRC collected £276m in PPT receipts from April 2022 to April 2023, but only 4,142 businesses were registered for the tax as of August 8, 2023, which is less than expected.
- Many businesses lack awareness of the recycled plastic content in the packaging they handle.
- HMRC is now issuing a detailed questionnaire as part of the business risk review plus (BRR+) process to assess businesses’ PPT compliance. The questionnaire contains 29 questions, including inquiries about PPT reporting and the use of estimated figures.
- Businesses need to be prepared to answer these questions as part of the BRR+ process.
Source RSM
Latest Posts in "United Kingdom"
- Boehringer Ruling: Could £2.5bn VAT Reclaims Transform UK Pharma and Healthcare Forever?
- VAT Recovery Possible Without Fully Compliant Invoices if Alternative Evidence Provided, UK Tribunal Rules
- UK Tribunal Denies VAT Deductions for Construction Firm Linked to Payroll Fraud
- Restaurant Operator and Director Liable for £280,903 VAT Evasion After Tribunal Rejects Defense
- Upper Tribunal Rules Hair Loss System for Severe Baldness Qualifies for VAT Zero Rating
