The illicit wine market could have cost the UK up to £700 million in revenue losses last year, according to the first ever estimates on this category to be released by HM Revenue & Customs.
The UK chancellor George Osborne is facing a £100 million shortfall in the duty he collects from alcohol, according to new figures released by the Wilson Drinks Report.
The Wine and Spirit Trade Association (WSTA) has claimed that the government’s wine and spirits duty escalator is to blame for the UK’s high alcohol prices.
The amount of beer confiscated by HM Revenue & Customs (HMRC) has more than doubled over the last three years.
Two brothers from the UK midlands have been jailed after they were discovered trying to avoid paying more than £4.7 million in alcohol duty.
Research by Barclaycard has found that spending in pubs on credit and debit cards following the cut has been boosted by 4% since March.
Analysis from the WSTA has found women to bear the financial brunt as the beer tax cut is wiped out by wine and spirit increases.
The beer industry has reacted positively to George Osborne’s Budget announcement that he will scrap the beer duty escalator and cut beer duty by 1p.
George Osborne has announced the government will scrap the beer duty escalator that saw beer duty increased at 2% above inflation.
5.5% abv wine-based drinks are booming in the UK due to low prices, not, it seems, their low alcohol content.
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