Less than a year to go until UK Businesses will have to start paying tax on importing plastic products.
At this current moment, the UK Government is pushing through its latest Finance Bill. Part of this includes the proposed Plastic Packaging Tax. Plastic packaging components that do not contain at least 30% recycled material will have a £200 levy imposed. With an overall aim of driving businesses to increase the use of recycled content in packaging.
Expected to come into force in April 2022 businesses that will be affected include:
- UK manufacturers of plastic packaging,
- importers of plastic packaging,
- business customers of manufacturers and importers of plastic packaging
In addition, consumers who buy plastic packaging or goods in plastic packaging are also expected to be affected as businesses will pass down the levy via a price increases.
The UK government has updated its website to help support businesses that may be affected by the new tax. Further information and support documentation in order to ensure that businesses are ready can be found on the government website link here.