Plastic Manufacturers Only Have Until 29th June To Benefit From Climate Change Levy Tax ReliefMember News
Whilst a number of trade bodies operate Climate Change Agreements (CCA's) the British Plastics Federation (BPF) is closing the door to new entrants as of 29th June 2018.
Therefore if you are in the plastics sector and you have yet to check your eligibility for the scheme it is now time critical that you do so.
Providing you qualify and after completing the appropriate paperwork the benefit to the business is a 90% reduction in Climate Change Levy (CCL) charges. Given the majority of plastics manufacturers are heavy electricity users this amounts to substantial potential reduction.
As CCL is a tax the rate at which it is charged continues to increase. April 2019's published rates are close to 50% higher than current costs. The ongoing benefit of seeking advice and implementing the CCA is significant and may help manufacturers with recent contract price increases.
If you would like further information or help in understanding the opportunity please do get in touch. [email protected] / 07501221728