The introduction of the UK Plastic Packaging Tax (PPT) last year has caused significant issues for businesses importing or manufacturing plastic packaging or making a ‘significant modification’ (as defined by HMRC) to plastic packaging within the UK part of the supply chain. As a relatively new tax, businesses have faced difficultly in identifying whether they are liable to PPT; managing PPT exposure and complying with the requirements. Under the PPT provisions, businesses can also potentially have joint liability for non-compliance with other businesses in the supply chain.
Our team can review your business’ PPT position, including analysing whether a requirement to register for PPT exists. We can also work with you to review the best methods for calculating your business’ PPT liability, with the aim of putting in place a methodology and processes for reducing the administrative burden of PPT filings as well as minimising the PPT exposure.
Other jurisdictions internationally such as Spain and Italy have also recently introduced local plastic taxes, and it is anticipated other countries will do so in the coming years. Working in conjunction with the PKF Global network, we are able to advise on any overseas plastic tax obligations and undertake the necessary returns on your behalf.