THE British Plastics Federation (BPF) has released an online tool to help companies ascertain whether or not their products qualify for the upcoming Plastics Packaging Tax.
Built upon knowledge provided by the consultancy firm EY, the tool is available for free on the BPF website.
The new tax come into effect from 1 April and is intended to increase the amount of recycled material used in packaging products. A survey conducted by the BPF found less than a third of companies feel that they fully understand it.
Areas of uncertainty include the evidence companies are required to submit and when they are eligible for tax credits. Uncertainty also exists around calculating the amount of tax liable (if any), how VAT is to be applied, and the information required on invoices for tax-eligible products.
The BPF revealed it has worked with EY to produce a guide, which is available to members of the trade association. Out of this guide, the BPF produced an online ‘decision tree’ to help other companies understand the extent to which their products are liable for the upcoming tax.
BPF membership services director Stephen Hunt said, “As this is an unprecedented, comprehensive, first-of-its-kind tax for the industry, the BPF has been working tirelessly with members to ensure they are as prepared as possible for its implementation. We hope the industry and its varied supply chains will find this decision tree useful in navigating this tax.”
The BPF is also hosting an event about incorporating recycled content on 24 March, supported by Plastics Europe. For more information, visit www.bpf.co.uk To access the online plastics packaging tax tool, visit www.bpf.co.uk/PackagingTaxTool.
