UK government collects GBP 276 million in plastic packaging tax in scheme’s first year | Sustainable Plastics

Posted on July 9, 2024 by DrRossH in Plastic Recycling

The figure is GBP 41 million more than the Treasury predicted after it forecast receipts of GBP 235 million from an estimated 20,000 manufacturers and importers for 2022 to 2023.

Source: UK government collects GBP 276 million in plastic packaging tax in scheme’s first year | Sustainable Plastics

The United Kingdom’s HM Revenue and Customs (HMRC) announced this Thursday that it collected GBP 276 million (€323 million) in plastic packaging tax (PPT) receipts in the financial year 2022 to 2023.

The PPT was introduced on April 1, 2022, with the aim of providing an economic incentive to use recycled plastic in packaging, thereby stimulating an uptake in recycling and collection of plastic waste.