The Plastic Packaging Tax is here – will it affect your business?
ou manufacture or import 10 or more tonnes of plastic packaging within a 12 month period, you may need to register for the new plastic packaging tax (PPT). The tax will come into force on 1 April 2022 and will be charged at a rate of £200 per tonne.
Late tax payment penalties to change
The government is changing the penalties charged for late submission of returns and late payment of tax it has been announced. The changes will initially apply to VAT and Income Tax Self Assessment (ITSA). As part of this reform, interest charges and repayment interest will be harmonised to bring VAT in line with other tax regimes.
My initial thoughts on the October 2018 budget
Predictions were for a quiet budget from a tax point of view with the new hot topic “plastic tax” maybe taking the spotlight, but others were predicting changes on the tax relief attached to pension contributions whilst it was said elsewhere that Philip Hammond would use this budget to mark the end of austerity.
Sign up to receive our private content
straight to your inbox