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This week saw the tories announcement of major changes to the way alcohol taxation system will work from Feb ‘23. At first the hype created by the treasury’s PR department was like they has reinvented the wheel. What they had actually done was pull a major con on the public. 1/14
The proposal to reduce and remove sparkling wine super tax will cost the U.K. £119m PA approximately, however the new still wine taxes will yield an extra £4.5BN. But the system from an importation point of view will not be workable. 2/14
Currently their are three main tax codes for duty on wine, 411,413 & 415. These are the bands from 8.5% to 22% and sparkling wine in its own band. Most still wine is tax at £2.23 per 75cl bottle and £2.86 for sparkling. Above 15% still is £2.96. 3/14
