We would like to remind members that if you are liable for the plastics packaging tax (PPT), your first quarterly PPT return should have been submitted from 1st July and any tax must be paid no later than 29 July 2022.
Your PPT return needs to cover plastic packaging your business manufactured or imported into the UK from when you became liable to 30 June 2022.
- You must keep accounts and records to support the information provided when you complete your quarterly PPT return.
- Your accounts must show how you have worked out the figures you submit on your PPT return, and your records must show the evidence to support these figures.
- You must keep your accounts and records for at least 6 years from the end of the accounting period, and record weight in tonnes, kilograms, and grams.
- You will need to pay any tax due through your online PPT account. You can pay via Direct Debit, BACS, CHAPS, Debit/Corporate credit card or Faster Payments.
- You will need to submit a PPT return to HMRC and pay any tax due every quarter. Your PPT return must cover an accounting period. For 2022-23, the accounting periods and deadlines for returns and payment are:
- 1 April to 30 June 2022 accounting period. Deadline for return and payment is 29 July 2022
- 1 July to 30 September 2022 accounting period. Deadline for return and payment is 31 October 2022
- 1 October to 31 December 2022 accounting period. Deadline for return and payment is 31 January 2023
- 1 January to 31 March 2023 accounting period. Deadline for return and payment is 28 April 2023
Members may also find this HMRC toolkit useful. It contains a range of information and guidance on the tax as well as a Q&A section.