On 17 December 2021, HM Revenue & Customs (HMRC) published guidance for the new Plastic Packaging Tax (PPT). The new tax will apply from 1 April 2022. According to the new legislation, a business that manufactures or imports ten metric tonnes or more of plastic packaging will need to register for the tax. The tax will be levied at GBP 200 per metric tonne.
There are two sets of guidance outlined below.
The first concerns preparing a business for the PPT. This sets out the basic information on how the tax works and to whom it will apply, whereas the second concerns record keeping and accounts for PPT. Some businesses that manufacture or import plastic packaging into the United Kingdom (UK) will need to keep records so that they can determine when they need to register with HMRC.