New figures from HM Revenue and Customs reveal the Treasury has lost close to £300m in tax revenue from Scotch whisky and other spirits following Jeremy Hunt’s significant tax increase last August.
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The government dashed hopes of a cut to alcohol duty following the announcement of the Spring Budget today (6 March) by chancellor Jeremy Hunt.
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The Wine and Spirit Trade Association (WSTA) along with over 100 UK wine and spirit producers, retailers and hospitality businesses have called on the government to cut duty in a ‘last-ditch plea’ ahead of the Budget announcement on 6 March.
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The Scottish Budget for 2024-25 was passed unchanged at Holyrood yesterday (27 February), with hospitality businesses north of the border hanging in the balance.
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The UK Spirits Alliance (UKSA), representing hundreds of small businesses across the UK, has called on the government to back hospitality and distilleries by freezing duty on spirits at the Autumn Statement.
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Wine and spirit businesses continue to urge the chancellor to freeze alcohol duty at the Autumn Statement.
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Ahead of the Autumn Statement on 22 November, senior figures in the wine industry are voicing their concerns amidst fears of a second alcohol duty rise in the space of four months.
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Britain’s leading hospitality groups saw year-on-year growth slow to 3.2% in October amid widespread poor weather, the new CGA RSM Hospitality Business Tracker reveals.
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Wine and spirit businesses are calling on the chancellor to freeze alcohol duty until the end of parliament, when Jeremy Hunt delivers his Autumn Statement on 22 November.
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Representatives of more than 400 businesses have written to the chancellor demanding an alcohol duty freeze in the Autumn Statement.
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The freeze on UK alcohol duty rates has been extended six months to 1 August 2023, the government announced yesterday (19 December 2022).
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In today’s Autumn Statement (17 November 2022), Chancellor Jeremy Hunt made a few announcements regarding business taxes, but there was no mention of alcohol duty, much to the frustration of the drinks trade.
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Over 100 business executives from across the alcohol industry have signed a letter written to the Times calling on the Chancellor to bring back the freeze on alcohol duty.
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