HMRC’s Stakeholder Digest (23 March 2022) highlights the more eye-catching announcements from the Spring Statement, including the NICs thresholds changes, VAT zero-rating of energy-saving materials, the fuel duty cut and prospective basic rate income tax cut to 19%.
The update also highlights the introduction of plastic packaging tax on 1 April 2022, advising manufacturers and importers to review HMRC’s guidance Plastic packaging tax: steps to take, and to work through the eight steps to determine if they need to register and pay the tax. Businesses will have 30 days to register from the date they become liable and will need to start filing PPT returns from July 2022.
HMRC’s Stakeholder Digest (23 March 2022) highlights the more eye-catching announcements from the Spring Statement, including the NICs thresholds changes, VAT zero-rating of energy-saving materials, the fuel duty cut and prospective basic rate income tax cut to 19%.
The update also highlights the introduction of plastic packaging tax on 1 April 2022, advising manufacturers and importers to review HMRC’s guidance Plastic packaging tax: steps to take, and to work through the eight steps to determine if they need to register and pay the tax. Businesses will have 30 days to register from the date they become liable and will need to start filing PPT returns from July 2022.
