Companies that manufacture or import 10 or more tonnes of plastic packaging from April 1 must register for the tax through the HMRC website and submit their records on or before July 29.
Failure to do so may result in charged penalties, such as late payment interest on outstanding tax from the date the amount was due.
The new PPT legislation will charge businesses that manufacture or import plastic packaging that consists of less than 30% recycled plastic content at a rate of £200 per metric tonne.
Businesses must do their due diligence checks by capturing and keeping records of all weight details of each plastic packaging component to the nearest kg.
This, said Josh Remi, commercial manager of Ecoveritas, places heightened pressure on companies to capture quality packaging data during a time where supply chains are increasingly vulnerable to rising material costs.
“The PPT deadline is looming – and businesses must ensure they are ready to submit their returns on time. Ecoveritas recognises that this is a challenging time for UK businesses, particularly amidst the supply chain crisis and limited availability of recycled substrates. But now is not the time to drag one’s heels.
“To submit your PPT return you must have registered on the HMRC website and report weight details of each plastic packaging component, including those exported, and detail evidence of recycled content. This includes how you’ve calculated the percentage of plastic, its source and what product lines the content is used in.”
To support UK businesses through the first reporting quarter, Ecoveritas recently launched a data collection vehicle (DCV), separated into primary, secondary and tertiary packaging to make data collection easier.