PackTotal PPT Edition
With PackTotal PPT software, you can easily track your plastic packaging components, calculate your PPT liability, and generate accurate returns with just a few clicks.
PackTotal PPT software will help you collect the data on the packaging you supply or import, handle exemptions for specific components or products, calculate credits for exported products, and identify components missing the data required for a complete, accurate tax return.
PackTotal PPT builds upon the functionality of PackTotal Essentials by adding the following Advanced PPT features:
PackTotal PPT Edition Features
PPT Compliance
PackTotal software is designed to ensure compliance with the UK Plastic Tax regulations and provide businesses with the tools and resources to track and calculate their plastic packaging volumes and recycled content.
User Friendly database
Centralised packaging data management database to record all data for products manufactured in the UK, imported, and exported. Adding commercial activity is simple with PackTotal. You can enter the product information for your products imported, exported or manufactured in the UK as and when it happens or as a bulk load periodically, whatever suits your business.
Plastic Tax Calculator
Includes a built-in calculator to determine plastic tax liabilities. PackTotal will calculate the total weight of liable plastic components manufactured or imported, the weight of all exempt components and the weight of components exported or classified as due for export (expected to be exported within 12 months). By automating this calculation, PackTotal PPT eliminates the risk of human error and ensures precise compliance with the UK plastic Tax regulations.
Reporting to HMRC
Streamlines the process of generating and submitting required reports to HMRC. PackTotal PPT will provide a full calculation of values needed for inclusion in the quarterly plastic tax return submission.
Storage for PPT documentation
HMRC requires documentation to prove all exemptions. PackTotal allows you to keep a library of all such documentation referenced from the components or products themselves. Missing documentation can be highlighted in a report to enable you to easily see if there are any gaps to be filled in case of an audit.
Missing data reports
To identify components that do not have the necessary information. For PackTotal to calculate accurate values for the Plastic Packaging Tax Return, some data fields such as Base Material, weight and PCR content are essential for this calculation. This report will highlight any critical data that is missing.
Exemption Tracking
Helps track exemptions and credits to optimise tax liabilities. It will calculate any possible credits due and highlight any unexpectedly liable components, such as those that were Due For Export but not exported within the 12 months.
Weight Tracking
By tracking the weight of each plastic packaging component, the software calculates the total weight of plastic packaging material used to determine tax liability. As businesses are required to pay taxes on plastic packaging that does not contain at least 30% recycled content, the Weight Tracking feature of PackTotal PPT edition simplifies this process by providing businesses with a means to track and calculate their plastic packaging volumes and weight.
Additional Reports for the Tax Return
You will be able to print reports on all previous tax returns and report the breakdown of the weights of components contributing to the overall liable and exempt weights.
Addressing Plastic Packaging Tax Challenges with PackTotal
The difficulties companies face around the Plastic Packaging Tax centre on data collation, understanding exemptions, accurately calculating the total tax due, and handling the complexity around export credits.
Suppose you have spent hours wrestling with spreadsheets to calculate your Plastic Packaging Tax figures, determining which components are tax-exempt, or trying to balance imports and exports for tax credit or relief.
All this information might be scattered across multiple spreadsheets or systems, making the process even more complex.
In that case, you will appreciate just how simple PackTotal makes calculating the figures for your Plastic Packaging Tax return.
To discuss your requirements, request more information or arrange a free demo please contact us, we will be more than happy to help.