CH155518 - Penalties for failure to pay on time: rules for specific taxes: Plastic Packaging Tax (PPT): penalties � example
Example of initial and further penalties on an amount of Plastic Packaging Tax
Plastic-Co Ltd delivers a return showing it is due to pay £60,000 of PPT on 30 July 2024, but it fails to make the payment. »Ê¹ÚÌåÓýapp company makes some payments at later dates, as shown in the table below.
»Ê¹ÚÌåÓýapp due date is 30 July 2024. »Ê¹ÚÌåÓýapp penalty date is 1 August 2024. »Ê¹ÚÌåÓýapp penalties are as follows.
| - | Payment | Unpaid PPT | Penalty |
|---|---|---|---|
| Amount due at 30 July 2024 | - | £60,000 | - |
| Initial penalty of 5% on £60,000 at 1 August 2024 | - | - | £3,000 |
| Payment 1 October 2024 | £40,000 | £20,000 | - |
| 5 month further penalty of 5% on £20,000 at 1 January 2025 | - | - | £1,000 |
| Payment 1 February 2025 | £10,000 | £10,000 | - |
| 11 month further penalty of 5% on £10,000 at 1 July 2025 | - | - | £500 |
| Total penalty | - | - | £4,500 |