📢 NG-Terminal Updates from the BWA Meeting with HMRC 📢
📢 NG-Terminal Updates from the BWA Meeting with HMRC 📢
We are proud to share insights from a recent The Bonded Warehousekeepers Association (BWA) meeting where HM Revenue & Customs discussed the forthcoming changes to the Alcohol Duty Stamps Scheme as announced in the Spring Budget 2024. As longstanding members of the BWA, NG Terminal Ltd is committed to staying at the forefront of industry updates to serve you better.
🔍 Here’s what you need to know:
HMRC reviewed the current Alcohol Duty Stamps Scheme and decided it’s time for a change. The scheme was originally designed to combat fraud in the spirits market, but it’s now evolving to better suit our modern supply chains and environmental goals.
The government plans to end the scheme and will be rolling out draft legislation later this year to outline how this will be done. There won’t be any sudden moves; everything is planned to ensure minimal disruption.
The changes aim to reduce the regulatory burden on businesses like ours and ensure that innovations aren’t held back by outdated rules. HMRC is also inviting feedback from BWA members to help shape this transition, so there’s a real opportunity for us to influence the outcome.
🚀 What’s next?
We’ll keep you posted on developments as they happen. At NG Terminal Ltd, we support you with the following matters, and if you’re in the business of handling excise goods and could use some guidance, we’re here to help ngtbd@ng-terminal.com.
📢 NG-Terminal Updates from the BWA Meeting with HMRC 📢
We are proud to share insights from a recent The Bonded Warehousekeepers Association (BWA) meeting where HM Revenue & Customs discussed the forthcoming changes to the Alcohol Duty Stamps Scheme as announced in the Spring Budget 2024. As longstanding members of the BWA, NG Terminal Ltd is committed to staying at the forefront of industry updates to serve you better.
🔍 Here’s what you need to know:
HMRC reviewed the current Alcohol Duty Stamps Scheme and decided it’s time for a change. The scheme was originally designed to combat fraud in the spirits market, but it’s now evolving to better suit our modern supply chains and environmental goals.
The government plans to end the scheme and will be rolling out draft legislation later this year to outline how this will be done. There won’t be any sudden moves; everything is planned to ensure minimal disruption.
Overview of tax legislation and rate around Spring Budget 2024:Â https://lnkd.in/duf-V3pV.
đź‘Ą Why this matters:
The changes aim to reduce the regulatory burden on businesses like ours and ensure that innovations aren’t held back by outdated rules. HMRC is also inviting feedback from BWA members to help shape this transition, so there’s a real opportunity for us to influence the outcome.
🚀 What’s next?
We’ll keep you posted on developments as they happen. At NG Terminal Ltd, we support you with the following matters, and if you’re in the business of handling excise goods and could use some guidance, we’re here to help ngtbd@ng-terminal.com.
·Permitted Excise GoodsÂ
·Excise Duty SuspendedÂ
·Hassle-free ForwardingÂ
·Secure Storage and TransportÂ
For full services at NG Terminal:Â https://lnkd.in/dEQ_wyJDÂ Â
#NGTerminal #NGT #CustomsBrokerage #ExciseGoods #BWA #HMRC #UKBusiness #Logistics #SupplyChainManagement #AlcoholDutyReform #SpringBudgetÂ