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On 1 August 2023, the Alcohol Duty system will change, taxing all alcoholic drinks based on their alcohol by volume (ABV).
This replaces the current Alcohol Duty system, which consists of four separate taxes covering beer, cider, spirits, wine and made-wine.
Small businesses as well as pubs and restaurants could benefit from reduced rates on qualifying products, such as draught beer and cider.
See: One month to go until Alcohol Duty system changes - GOV.UK (www.gov.uk)
08 Jul 2024
The UK's business groups have pledged to work in partnership with the new Labour government to revitalise the nation's economy.
The UK's tax gap estimate rose to a record to £39.8 billion in 2022/23 as small businesses accounted for almost two thirds of unpaid tax, according to HMRC's data.
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