Plastic Packaging Tax Collections 6% Down Year-On-Year.

Featured post image

In the 2023-2024 financial year, £268 million was collected from the Plastic Packaging Tax (PPT), down from £285 million in the previous year, 2022-2023.

During this period, 42% of the total plastic packaging produced or imported into the UK was subject to the tax. Of the remaining 58%, 11% was either exported, intended for export, or converted, while less than 1% was exempt due to its use in immediate packaging for human medicines. The majority, 46%, was exempt because it contained 30% or more recycled plastic.

New data provided HMRC in their latest statistics release details the current state of the Plastic Packaging Tax (PPT) since its launch in 2022

The reduction in tax revenue could indicate a shift towards more sustainable practices although it may be a further indication of reduced demand for both consumables and packaging. However with 42% of plastic packaging still taxable under the PPT it highlights the ongoing challenge for businesses in meeting the 30% recycled content requirement.

With the value of Packaging Recovery Notes continuing to fall since October 2022 it is difficult to square the fact that producers are meeting their obligations when more than 40% of the plastic packaging reaching the market continues a high majority of virgin material.

A further indication of an immature market yet to find its equilibrium despite significant market intervention by the UK government?

You can read the full commentary on the .Gov website here

Related Articles

Clearpoint Recycling Shortlisted for Independent Business of the Year award
Clearpoint Recycling Shortlisted for Independent Business of the Year at the 2025 Awards for Excellence in Recycling and Waste Management We are thrilled to announce that Clearpoint Recycling has been shortlisted for the Independent Business of the Year award at the 2025 Awards for Excellence in Recycling and Waste Management! This prestigious recognition underscores our...
Waste Export Crime Linked to Money Laundering
The Environment Agency (EA) has reported a significant increase in money laundering networks exploiting the packaging export recycling note (PERN) system, prompting the agency to quadruple the size of its investigation team. The EA noted that the past three years have seen a rise in the “scale and complexity” of fraud within the sector. Criminals...
Spring Statement: Call to Address Rising Costs, Strikes, and Waste Challenges
Spring Statement: Urgent Action Needed on Rising Recycling Costs and Waste Management Ahead of the Spring Statement, Clearpoint Recycling has called on Chancellor Rachel Reeves to tackle the rising costs impacting the recycling and waste management sector. With spending cuts expected and tax increases ruled out, Managing Director Mark Garrett warned that increasing wages, higher...
Pre-Informed Consent: A Cornerstone of Legal and Ethical Material Export
Pre-Informed Consent: A Cornerstone of Legal & Ethical Material Export Often, terms like “Notification,” “TFS,” and “Pre-informed Consent” are used interchangeably when discussing waste exports. However, Pre-Informed Consent (PIC) is the specific process required for exporting Amber List materials (learn more about Amber List here) and offers several advantages for fostering a circular economy. What...