Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

New regulation introduced in Wales has caused some confusion among traders and consumers, which could result in large penalties for some businesses. A charge on the use of carrier bags has been launched, and came into force on 1st October 2011.

The new legislation is the first of its kind, and Wales are the first UK nation to enforce the charge, at five pence per single use bag. Wales uses approximately 480 million carrier bags each year and hope the charge will help to reduce that number. The legislation applies to any bags used on or after the 1st October, reducing the amount of litter and waste and conserving resources which are limited. If any business doesn’t comply with the new legislation, a penalty of up to £5000 will be enforced, although the first three months of the scheme will see some lenience.

Although a large number of businesses and consumers are in agreement with the scheme, they don’t all understand the reasons behind it. According to a survey conducted by Cardiff University, a large number of respondents believed that the charge was purely to raise money for the government, although 70 percent of the 600 questioned were in support of the charge.

A number of traders didn’t realise that the term carrier bag applied to paper bags as well as plastic bags. It also remained unclear for some, that the funds raised were to be donated to environmental causes and charities. Business leaders remain concerned that a lack of understanding could lead to excessive penalties being received.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

More posts by this author
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.