Charlotte Sallabank and Ugo Onwumelu (Katten Muchin Rosenman) explain key features of the new tax and how it will apply to businesses.
A new tax on plastic packaging containing less than 30% recycled plastic content that is manufactured in or imported into the UK will be introduced in the UK from 1 April 2022 (‘the tax’). Recycled plastic packaging is currently more expensive to produce. The stated aim of the tax is to encourage businesses to use more recycled material in the production of plastic packaging and in turn not only ensure that more packaging is recycled but also drive down the cost of production of recycled plastic. It is estimated that the tax could lead to an increase in the use of recycled plastic in packaging by approximately 40% which is equivalent to 200 000 tonnes of carbon savings in 2022/23.
Key features of...
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Charlotte Sallabank and Ugo Onwumelu (Katten Muchin Rosenman) explain key features of the new tax and how it will apply to businesses.
A new tax on plastic packaging containing less than 30% recycled plastic content that is manufactured in or imported into the UK will be introduced in the UK from 1 April 2022 (‘the tax’). Recycled plastic packaging is currently more expensive to produce. The stated aim of the tax is to encourage businesses to use more recycled material in the production of plastic packaging and in turn not only ensure that more packaging is recycled but also drive down the cost of production of recycled plastic. It is estimated that the tax could lead to an increase in the use of recycled plastic in packaging by approximately 40% which is equivalent to 200 000 tonnes of carbon savings in 2022/23.
Key features of...
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