Massive thanks to the Bonded Warehousekeepers Association (BWA) for sharing this game-changing update!
From 1st August 2023, the UK Alcohol Duty system is getting a significant overhaul:
🔹 Simplified Taxation 🔄: No longer separate taxes for beer, cider, spirits, wine and made-wine; alcohol will now be taxed based on its @Alcohol by Volume (ABV).
🔹 Fairer System ⚖️: This reform aligns the system better with evolving consumer tastes and encourages product innovation.
🔹 Support for Small Businesses 💼: Qualifying products such as draught beer and cider will enjoy reduced rates, giving a leg-up to small businesses, pubs, and restaurants.
Cracking News for Small Brewers and Distillers 🍺
🔹 Extended Relief 📈: The new Small Producer Relief is taking over and expanding the current Small Brewers Relief. If you’re producing any alcoholic product with an ABV of less than 8.5% and less than 4,500 hectolitres per year, you’ll benefit from reduced rates.
🔹 Boost for Hospitality 🍽️: The new Draught Relief will knock down Alcohol Duty on qualifying draught products sold in pubs and restaurants. Every little helps!
How @NGT is Ready to Lend a Hand 👍
🔹 Ready and Equipped 📦: Our Bonded Warehouse is prepared to expertly handle your excise goods, including a broad range of alcohol and tobacco products.
🔹 Staying on Top : We’re committed to staying abreast of industry changes and ensuring your goods are handled with maximum efficiency and care.
Get in Touch 📞
Want to learn more about our bonded warehouse services? Don’t hesitate, drop the NGT team a line at ngtbd@ng-terminal.com. We’re always here to help!
#NGTServices #BondedWarehouse #ExciseGoodsHandling #AlcoholDutyReform #BWAUpdate #IndustryNews
