Reasonable progress was made in August overall, but with only 3 out of 7 grades meeting their monthly target we will need to see consistent uplift in production rates to meet the yearly targets.
3rd October 2022Learn More
It has been revealed that just 992 obligated UK businesses signed up to pay the plastic packaging tax (PPT) in the first month of registrations.
Introduced on the 1st of April 2022 the Plastic Packaging tax is designed to encourage the use of more recycled plastic and applies to plastic packaging produced in, or imported into, the UK and that does not contain at least 30% recycled plastic.
HM Revenue & Customs (HMRC) estimated that 20,000 businesses would be affected by the new tax, and a revenue forecast of £235m from the first year of PPT. With a 5% registration rate, the estimated revenue is unlikely to come to fruition for 2022/23.
Many businesses remain unaware of the tax or unsure of its scope however, these businesses are responsible for the due diligence on their products and supply chain. Businesses can be held jointly liable with customers or suppliers who fail to pay the tax.
At Clarity we ensure that our members are completely tuned into all policy changes and our expert Account Managers are there to support on said changes, how they may affect your specific business and ensure complete compliance at the lowest possible cost.
"It is crucial to the fulfilment of the governments Circular Economy Plan that liable businesses register and meet the data requirements of the plastic tax."
Sam went on to say:
“It is crucial to the fulfilment of the governments Circular Economy Plan that liable businesses register and meet the data requirements of the plastic tax. This tax encourages the use of recycled materials in plastic packaging and although it may be difficult for businesses to navigate, it is very important that they seek support to ensure their compliance.”
“Many businesses are still unaware that they are liable for PPT; this tax requires more detailed data reporting and a compliance scheme with a proactive approach to new legislative changes. HMRC are not immune to knowing that PPT may be a challenge for businesses but they could begin to investigate underpayments and persecute businesses who are non- compliant.”
July was a weak month across most grades which points to some issues in Europe however it’s important to keep in mind that whilst the Environment Agency (EA) have released an obligation for 2022, we are working with a projected obligation as we are aware that there are still several large producers that haven’t submitted their data for this year.
1st September 2022Learn More
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