Plastic Packaging Tax receipts drop in UK
Posted on September 4, 2024 by DrRossH in Plastic Limiting RegulationsA bulletin releasen by the UK’s Department for Environment, Food & Rural Affairs earlier this month revealed that PPT receipts collected by HM Revenue and Customs in the financial year 2023 to 2024 totalled £268 million.
Source: Plastic Packaging Tax receipts drop in UK | Sustainable Plastics
This represents a decrease of 6% compared to 2022/2023. In this period, 42% of the total tonnage of plastic packaging manufactured in and imported into the UK was declared as taxable.
The tax applies to manufacturers and importers of plastic packaging components which contain less than 30% recycled plastic.
“While the decrease in tax receipts to £268 million reflects some positive shifts towards more circular practices, the fact that 42% of plastic packaging remains taxable highlights the ongoing challenge businesses face in meeting the 30% recycled content threshold.”
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