With the end of duty easement now nigh-on a certainty, in the second of our two-parter the WSTA’s Miles Beale swings the focus on to other major issues that lie ahead.
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The changes to employer national insurance contributions (NICs) will see more than 774,000 workers newly eligible for the contributions. This figure represents almost 63% of workers who were previously ineligible. UKHospitality predicts this could cost the hospitality sector up to £1bn.
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The introduction of 40% business rates relief for hospitality venues in Scotland with a rateable value of up to £51,000 will be a welcome introduction for many but could see more than 2,500 businesses ineligible for the scheme.
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Barring a near-miracle, it is now highly unlikely that the current UK government will make permanent the temporary duty easement that is ending this coming 1 February. Speaking with Andrew Catchpole for the first of a two-part Soapbox, Miles Beale of the Wine & Spirit Trade Association (WSTA) – who campaigned tirelessly on that matter and helped galvanise the trade – says it’s time to learn the lessons from this “incredibly disappointing” outcome and look ahead to the key bumps coming down the road in 2025. The trade can, he argues, force through more positive and desirable outcomes in the near future, if it pulls together in a similarly galvanised way.
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With the aim of providing clarity for the trade, James Bayley once again highlights what’s coming down the line.
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A shifting picture of diversification amid a challenging global landscape emerged from an interesting discussion in London yesterday (26 November), where Rodolphe Lameyse, CEO of Wine Paris owner Vinexposium, and Miles Beale, chief executive of the WSTA, gathered members of the press to discuss the potential ways of returning businesses in the UK and elsewhere to much-needed growth.
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The government of South Africa has published a policy review on the taxation of alcoholic beverages, with plans to increase excise tax in the forthcoming 2025 Budget.
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The UK spirits market, to many global producers, is one they want to be part of. It’s not the biggest by any means, nor is it the most fruitful – but there is an air of prestige about it. And yet many independent producers trying to break into the UK market, will struggle or worse, fail miserably. It’s a tough nut to crack but by understanding the nuances of the market, you’ll be better equipped to tackle the challenge – and hopefully reap a bit of great British success.
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Restaurant closures surged to the highest-ever quarterly figure in Q4 2023, according to accountancy firm Price Bailey.
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A group of award-winning small distillers have penned an open letter to Jeremy Hunt calling for a cut to alcohol duty in the Spring Budget.
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Tax revenues from so-called ‘sin taxes’ levied on alcohol, tobacco, gambling and sugary drinks have fallen to 3.1% of total UK tax receipts, according to HMRC figures for 2022-2023.
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Bordeaux winemaker and British expat Gavin Quinney says UK duty is ‘even crazier’ than we first thought.
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Harpers wants to hear from indie retailers as to how the 1 August duty rises – and associated costs – are impacting business.
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Independent merchants, long considered the backbone of the quality drinks trade in the UK, were woefully underrepresented among those consulted by government over the duty changes now hitting businesses.
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It doesn’t seem to matter what flavour of government you have at the moment – when it comes to the spirits and hospitality industries, there’s a stench of incompetence. In Scotland we have the incredibly public failure of the DRS scheme, which, as a result, has wasted millions of pounds of taxpayers’ money. But don’t be fooled – it really is no better, south of the border. Westminster will raise you a cock up, in the form of the increased duty rates.
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Faced with a significant duty rise from 1 August, many in the business of selling wine are bracing themselves for a new round of pain. Unwilling to pass on price rises to cash-strapped customers, but needing to protect already thin margins, this unpopular hike in tax is understandably the talk of the trade. And all of this is to happen at a time when implementation will impact on hospitality outlets, forcing a reorganisation of wine lists during the crucial summer trading period.
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Confirmation that the UK has signed up to the Asia-Pacific trade pact will open new markets down the line for some in the drinks trade, but will offer little sustenance in the short term.
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The trade is facing what has been dubbed a ‘double-pronged tax hike’ following the UK’s Spring Budget earlier this week (15 March), with the freeze on alcohol duty increases to end on 1 August 2023.
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Industry heads are warning that wine drinkers could face rocketing prices if the chancellor goes ahead with a double-pronged tax hike, likely to be announced at tomorrow’s Spring Budget.
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Planned increases in alcohol duty have been ditched by new Chancellor Kwasi Kwarteng in his mini-budget, as unveiled on 23 September.
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