Independent retailers in Northern Ireland have cautiously welcomed the announcement that non-domestic rates are to be frozen for the next financial year and that businesses will still receive a three-month rates holiday.
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The Wine and Spirit APPG has published its SME Inquiry Report on the government’s ‘illogical and unfair’ reform to alcohol duty.
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Multinational Pernod Ricard has posted record turnover from sales during the first half of the fiscal year (beginning July 2021), earning global revenues of €5,959m, with an organic growth of +17%.
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A member of the Amazon Prime series Three Drinkers has condemned Rishi Sunak’s proposed changes to the duty system as “punishing female consumers”, highlighting that wine is the most popular alcoholic drink among women in the UK.
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Accolade Wines is the latest major wine company to join calls urging the government to take stock of its alcohol duty review.
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Calls for the drinks trade to voice its concerns over the government’s alcohol duty review have ramped up as the consultation period nears its close on 30 January, potentially adding a £220 million additional tax burden on wine.
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With time fast ticking, Liberty Wines director of insights & business development, Alex Linsley, shares his company’s deep concerns around the government alcohol duty review, which is under consultation until 30 January 2022.
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The UK and Australia have reached an historic agreement on trade, in a move that has been welcomed by the WSTA.
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The ongoing dispute between Australia and its longstanding trade partner is creating unprecedented opportunities for competing nations to increase their market share, according to Rabobank’s Q4 Wine Quarterly report.
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Now the dust has settled and the Chancellor has published proposals to change the UK alcohol taxation system, Miles Beale, chief executive of the Wine & Spirit Trade Association, picks apart the pros and cons of the suggested model.
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Chancellor Rishi Sunak revealed plans to simplify the current alcohol duty regime during yesterday’s Budget, when it was revealed that the Treasury would be adopting a new principle of “the stronger the drink, the higher the rate”.
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Chancellor Rishi Sunak has announced the most radical simplification of alcohol duties for over a century by slashing the number of main duty rates from 15 to six, while also cutting the premium on sparkling wine.
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The Scottish Licensed Trade Association (SLTA) is calling on the Government to overhaul the alcohol excise duty system and introduce new measures that would create a differential between alcohol sold in pubs and supermarkets.
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The UK has been trading positively showing a “solid performance” with sales up 42.5% for the first nine months of 2021, Campari Group has revealed.
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Pernod Ricard has revealed it has seen a very ‘dynamic start’ in all regions for the first quarter of FY22, with robust demand and strong shipments ahead of the festive season.
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Reports from the national press suggest that the premium on sparkling wine duty could be scrapped by chancellor Rishi Sunak in the upcoming Autumn Budget in a move which could bring sparkling wine duty in line with still.
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Having contingency plans and not relying on the rest of the world in order to manage risk was one of the key messages from this morning’s WSTA Industry Summit briefing, Recalibrating the ‘Norm’, with Lorraine Copes, founder of Be Inclusive Hospitality and George Yip, Emeritus prof. marketing & strategy, Imperial College Business School.
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The Wine and Spirit Trade Association (WSTA) has unveiled an impressive line-up of speakers for its annual Industry Summit next week, due to take place virtually.
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UK Hospitality (UKH) and the British Institute of Innkeeping (BII) have called on government to introduce business rates reform after estimating that the sector overpays by £2.4bn each year.
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The Government is currently considering levying a 25% tariff on US wine imports reaching the UK. But there is another long-suffering category in American whiskey, which was left out of a recent revision and five-year suspension on tariffs for spirits travelling between the US and Britain. Greg Mefford, international sales director at spirits maker Luxco, looks at the implications for a popular category.
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