The UK government has published draft statutory regulations in February 2023 as part of the Alcohol Duty Review, aimed at simplifying the existing system. The regulations cover changes to rates and reliefs taking place on August 1, 2023, and will eventually replace all existing product-specific regulations.

The government is welcoming feedback from stakeholders on the changes during this review period. Now would be the best time to voice your opinion.

After new regulations takes effect from 1st August 2023:

For major reform like this, importers and exporters of alcoholic products may need to adjust their pricing models based on the new tax bands. The easement for wine producers and importers will help manage the transition to the new method of calculating duty owed on their products. The reduction in duty on draught products sold in the on-trade venues, such as pubs, will benefit domestic producers, importers and exporters of these products. The introduction of the new Small Producer Relief may also encourage smaller businesses to enter the market and increase competition. The overall simplification of the duty structure may also make it easier for businesses to comply with excise requirements, potentially reducing costs and improving efficiency.

More information on the government website:

Based right next to London Heathrow airport, NG Terminal is a neutral customs and logistics service provider operating from a 15,000 SQF facility. We take pride in our excise bonded warehousing service, which offers our clients a secure and cost-effective solution for storing and managing their excisable goods. 

Our excise bonded warehouse is authorized by the relevant authorities and allows for the import/storage/transhipment of a variety of excisable goods, including alcohol, tobacco, and fuel. Our team of experts is well-versed in the regulations surrounding these types of goods, and we work closely with our clients to suspend duty, ensure compliance and minimize risk.

In addition to our secure storage facilities, we also offer value-added services such as order fulfillment, labeling, and repackaging, allowing our clients to streamline their operations and focus on their core business activities.

At NG-Terminal, we are committed to providing our clients with the best possible service and technology to help them succeed in today’s global marketplace. Sign up for free here.

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