CRW Accountants

The Mews, Queen Street
Colyton, Devon, EX24 6JU
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 01297 553286

Search News


Alcohol duty freeze confirmed

Source: HM Treasury | | 05/02/2019

The Chancellor, Philip Hammond recently paid a visit to an independent brewery in Liverpool and confirmed that the duty rates on beers, spirits and most ciders will be frozen at the current rates for another year from 1 February 2019. These measures mean that the average price for a bottle of whisky will be £1.50 less and a pint of beer 14p less than if the rates had increased as expected based on the duty escalator.

The Chancellor hailed the duty freeze as offering much needed support to the pubs and drink industry as well as for beer lovers who can raise a toast as Dry January has finished. However, it was not all good news as an RPI inflationary increase in the duty band for high strength sparkling cider known as 'white ciders' with alcohol levels above 5.5% came into effect from 1 February 2019. The price of wine also increased by RPI inflation from the same date.

Philip Hammond, Chancellor of Exchequer, said:

'These duties would have otherwise come into effect today (1 February 2019) but instead we’re supporting an industry that employs 900,000 people across the UK. Whether it’s local pubs, craft cider mills or independent distillers, this government is helping these businesses to thrive and ensuring they remain at the heart of our economy.'

The government is also looking at the efficiency of the Small Brewers Relief to make sure the scheme continues to support the country’s smallest beer makers, helping them to grow and expand into new markets.

Latest News

  • OTS Business lifecycle review

    24/10/2018 - More...

    You may be aware the Chancellor asked the OTS to review the difficulties faced by small business and their advisers when interacting with the tax system, at the various pinch

  • New Stamp Duty surcharge announced

    19/02/2019 - More...

    A new consultation has been launched by HM Treasury together with HMRC seeking views on the design of a new 1% Stamp Duty Land Tax (SDLT) surcharge on non-UK residents purchasing

  • Edinburgh makes a case for UK’s first tourist tax

    19/02/2019 - More...

    The City of Edinburgh Council is seeking permission to introduce a tourist tax. After an extensive consultation, the members of Edinburgh Council have agreed to submit proposals to

 

 

           

Copyright © 2019 - CRW Accountants

designed by Zoe Adele Parsons MA

Cookie Policy