New figures from HM Revenue and Customs reveal the Treasury has lost close to £300m in tax revenue from Scotch whisky and other spirits following Jeremy Hunt’s significant tax increase last August.
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Following rumours of a second duty hike in line with inflation, the government quelled fears by announcing a freeze on alcohol duty in the Autumn Statement last week.
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Britain’s leading hospitality groups saw year-on-year growth slow to 3.2% in October amid widespread poor weather, the new CGA RSM Hospitality Business Tracker reveals.
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In today’s Autumn Statement (17 November 2022), Chancellor Jeremy Hunt made a few announcements regarding business taxes, but there was no mention of alcohol duty, much to the frustration of the drinks trade.
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Over 100 business executives from across the alcohol industry have signed a letter written to the Times calling on the Chancellor to bring back the freeze on alcohol duty.
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