Businesses have been reminded that the first Soft Drinks Industry Levy return is due in July.
The levy was introduced in April this year for manufacturers of soft drinks which exceed a predetermined quantity of sugar.
The returns will be for fixed reporting periods ending June, September, December and March.
Returns, filed quarterly, must be submitted and levies should be paid within 30 days of the end of each reporting period.
If you are registered for the levy and have nothing to report for a period, you can submit a “nil return”, unless you are only registered as a small producer.
You may also need to register, report and pay the Soft Drinks Industry Levy if you are involved in bringing eligible drinks into the UK and selling them.
If you don’t file your return on time, HM Revenue & Customs can charge you an estimate of what you owe and you may be liable for other penalties.
Certain small businesses normally liable to pay the levy but are exempt are known as ‘small producers’. These are businesses which produce less than one million litres of liable drinks over a one-year period.
For more information, please get in touch.