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March 17, 2023
UK increases Plastic Packaging Tax rate
The HMRC Guidance issued on 15 March 2023, reminds businesses that they must register for the UK PPT if they:
Effective 31 March 2023, the retrospective test will apply on the last day of every month i.e., businesses must register for the PPT if they have imported into the UK or manufactured in the UK 10 tonnes or more of finished plastic packaging components in the previous12 months.
Businesses need to pay the PPT if they have manufactured or imported plastic packaging components which contain less than 30% recycled plastic.
PPT rate increase
The tax came into force on 1 April 2022 and is charged at a rate of:
For additional information with respect to this Alert, please contact the following:
Ernst & Young LLP (United Kingdom), London