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PLASTIC PACKAGING TAX STATEMENT (PPT)
What is the Plastic Packaging Tax (PPT)?
The PPT came into force on the 1st April 2022. It applies to plastic packaging used in products imported into, or manufactured in the UK, that do not contain at least 30% recycled plastic for companies that produce in excess of 10 metric tonnes of plastic packaging per annum.
What is the purpose of the tax?
The aim of the PPT is to encourage businesses to increase the use of recycled material in the production of plastic packaging for products. Demand for recycled material is expected to increase the collection and recycling of waste plastic thus reducing the amount which is landfilled or incinerated.
Hague Fasteners and the Plastic Packaging Tax
The total amount of Plastic Packaging used by Hague Fasteners falls significantly below the PPT threshold.
From the 1st April 2022 Hague Fasteners Limited monitor in scope, out of scope, and exempt packaging on a continual basis to determine any PPT liability.
Hague Fasteners ensure that all Plastic Packaging used within our operation contains 30% recycled plastic, as an absolute minimum, and where possible seeks alternative materials to completely eliminate the use of plastics.
We recognise that we are all in challenging times in terms of global environmental impacts and we all have a part to play in addressing threats to our planet. Hague Fasteners is fully committed to assessing, understanding and improving its environmental impact and performance.
In the unlikely event that the threshold of 10 tonnes is reached, then as per our obligations, we will register with HMRC as liable to pay PPT on all applicable packaging used within our Company and will then :-.
- report and with best endeavours complete HMRC tax declarations accurately.
- Provide evidence for all exemptions and recycled content declarations.
- carry out due diligence checks to ensure product specifications are and remain accurate.
- identify, investigate and qualify alternative packaging methods for future targeted packaging improvements.
We monitor in scope, out of scope, and exempt packaging on a continual basis which easily helps us to determine any future PPT liability.
Declaration
Hague Fasteners are exempt from PPT as the total amount of Plastic Packaging used by us falls significantly below the 10 tonnes PPT threshold. Further as a commitment to improving our Environment we strive to eliminate the use of plastic completely from our packaging and where this is not possible commit to ensuring any products used contain at least 30% recycled plastic.
If it is determined that there is a PPT liability at any time in the future, then Hague Fasteners will assume all related PPT liabilities on all applicable packaging.
We confirm that Hague Fasteners customers shall not have any liabilities in respect of PPT on all applicable packaging used within Hague Fasteners products purchased from the company.
For more information on PLASTIC PACKAGING TAX STATEMENT (PPT) talk to Hague Special Fasteners Limited