Yesterday, 12 November HM Revenue & Customs published a new policy paper: Introduction of a new plastic packaging tax.
All plastic packaging produced in, or imported into the UK, with less than 30% recycled plastic will be affected by the new tax.
Legislation will be introduced to establish a Plastic Packaging Tax, The government has published a draft of the legislation for technical consultation which sets out the key features of the tax, including:
- the £200 per tonne tax rate for packaging with less than 30% recycled plastic
- the registration threshold of 10 tonnes of plastic packaging produced in or imported into the UK per annum
- the scope of the tax by definition of the type of taxable product and recycled content
- the exemption for producers and importers of small quantities of plastic packaging
- who will be liable to pay the tax and need to register with HMRC
- how the tax will be collected, recovered and enforced
- how the tax will be relieved on exports
The new tax will take effect from April 2022. Read full article here.