C1PART 2Plastic packaging tax

Annotations:
Modifications etc. (not altering text)

Deferrals, exemptions and credits

I1I2C153C1Tax credits

1

The Commissioners may by regulations make provision in relation to cases where after a person has become liable to pay plastic packaging tax in respect of a prescribed plastic packaging component (the “charged component”), that component is—

a

exported from the United Kingdom;

b

converted into a different packaging component.

2

The provision that may be made is provision—

a

for the person to be entitled to a tax credit in respect of any plastic packaging tax charged on the charged component;

b

for the tax credit to be brought into account when the person is accounting for plastic packaging tax due from the person for the prescribed accounting period or periods;

c

for the person to be entitled to a repayment of plastic packaging tax (instead of a tax credit) in prescribed cases.

3

Regulations under this section may (among other things) make provision—

a

for any entitlement to a tax credit to be conditional on the making of a claim by the person, and specifying the period within which and the manner in which a claim may be made;

b

for any entitlement to a tax credit or to bring a tax credit into account to be—

i

conditional on compliance with prescribed requirements;

ii

subject to prescribed minimum or maximum amounts;

c

specifying circumstances in which, and criteria for determining the period for which, the person is or is not entitled to a tax credit;

d

requiring a claim for a tax credit to be evidenced and quantified by reference to prescribed records and other documents;

e

requiring a person claiming any entitlement to a tax credit to keep, for the prescribed period and in the prescribed form and manner, those records and documents and a record of prescribed information relating to the claim;

f

for the withdrawal of a tax credit where any requirement of the regulations is not complied with;

g

about adjustments of liability for plastic packaging tax in connection with entitlement or withdrawal of an entitlement to a tax credit in prescribed circumstances;

h

about the treatment of a tax credit where the person ceases to carry on a business or otherwise is no longer liable to plastic packaging tax;

i

for anything falling to be determined in accordance with the regulations to be determined by reference to a direction given in accordance with the regulations by the Commissioners;

j

about the meaning of “converted” for the purposes of subsection (1)(b).

4

In this section, “prescribed” means specified in or under, or determined in accordance with provision made in or under, regulations under this section.