20 October 2014 | Taxation
As of today, a 5p charge is levieed by the retailer on every single-use carrier bag sold in Scotland. Similar schemes have already been introduced in Northern Ireland and Wales.
The legislation is provided by HMRC at Business Brief 38 (2014), but this can be boiled down to four basic facts you need to know:
Put simply, the 5p is incldued as part of your standard rated sales, and the ex-vat amount is extra taxable income/profit.
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