The Wine and Spirit Trade Association (WSTA) has convened a meeting of MPs and Lords to hear first-hand from British businesses how the ‘punishing’ proposals for duty reform from three to 27 tax bands will negatively impact the drinks industry and consumers.
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While there was little to celebrate in 2020, Champagne was back with a bang last year, which seemed to take everyone – including the Champenois – by surprise.
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Virgin Wines, one of the UK’s largest direct to consumer online wine retailers, announced its interim results for the six months ended 31 December 2021.
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Britain’s managed restaurant, pub and bar groups raised sales above pre-pandemic levels in February, thanks mainly to the removal of Covid-19 restrictions. Still, high inflation continues to make real-terms growth challenging.
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As the cost of living increases, consumers are looking to reduce spending, and recreational drinking could bear the brunt.
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In April, the VAT on hospitality sector purchases will return to the pre-pandemic rate of 20%. The increase follows two years of reduced rates for the industry; in July 2020, rates were reduced to 5% before rising to 12.5% in October last year.
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Concha y Toro, the UK’s second-largest wine company by retail sales, will mark B Corp month with a wide-ranging social media campaign.
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Hospitality sectors in major British cities including Bristol and Manchester are recovering their vibrancy as Covid restrictions wind down, according to new research.
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The UK has signed a far-reaching trade deal with New Zealand to remove trade barriers on many UK goods and services and provide new opportunities for British businesses.
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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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