Plastic Packaging Tax – Budget 2020
19 Mar 2020
UK Budget sets out details of plastic packaging tax.
The Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020 In this series, we focus on the tax measures which may affect you, your family and your business. To help you decipher what was said we have included our own comments. If you have any questions please contact us for advice.
In this edition of our Budget 2020 series, we focus on plastic packaging tax.
This will be a new tax that applies to plastic packaging produced in or imported into the UK that does not contain at least 30 per cent recycled plastic. The tax rate will be £200 per tonne of non-compliant plastic packaging. A consultation on the design and implementation of the tax has been issued and the tax is to take effect from April 2022.
Our experts at Beavis Morgan take the hassle of dealing with HMRC away from you, so you don’t need to deal directly with them. We are also able to advise on all aspects of tax whether compliance or planning.
If you have any concerns about your personal or business financial situation, our experts at Beavis Morgan group business, BM Advisory, are able to assist. We specialise in finding innovative solutions for businesses and individuals in distress. Contact Andy Pear or Mike Solomons of BM Advisory for more information and an initial free consultation.
Other articles in our Beavis Morgan Budget 2020 series include:
For Rates and Allowances 2020/21, view the full Beavis Morgan Budget 2020 Summary Report.
You can also follow our Beavis Morgan LinkedIn page to keep up with key developments in tax and the impact these changes might have on you and your business.