Plastic Packaging Tax (PPT) Updates
As any new tax beds in you can expect to find regular updates being issued and PPT is no exception. Changes in areas of:
have been recently published.
Non-Business Use interaction with PPT
One aspect that has arisen through discussions with the British University Finance Directors Group (BUFDG), involves the impact of the new tax on the Non-Business/Not for Profit sector. This is whether plastic packaging on items that they import and support their non-business activities, would need to be included in the 10 tonne threshold for registering for the tax.
HMRC have responded to BUFDG with re-assurance that plastic packaging imported on items used for a non-business activity will not count towards that threshold. Good news certainly and demonstrates the need not just to keep up to speed with written publications, but also with sector specialist networks.
This is the type of “informed” insight that Centurion covers in our Annual VAT Forums for the University; College and Housing Association sectors – the dates for these Annual Forums are now posted and are free to attend so do book on the relevant sector Forum. The impact of Environmental Taxes will be just one of the areas under discussion this year.
Higher Education VAT forum More information HERE
Housing Association VAT forum More information HERE
Further Education VAT forum More information HERE
For the avoidance of doubt, the content recorded in this news article does not constitute formal advice and we do not guarantee the accuracy of any information provided at the time of reading. It is always recommended that you seek professional advice before acting on any of the news articles or information included.