Bryony Balmforth, Director at BAND, accountants and business advisors to the entertainment industry, explains this year’s changes to alcohol duty and how festivals need to keep an eye out for the changes in consumer behaviour they might accelerate.
From 1st August this year the UK saw an increase in the rate of alcohol duty following six years of freezes. The new system is hailed as a simplification, with fewer categories and rates set proportionally to ABV as opposed to by product type.
Critically, rates are now set irrespective of whether they are applied to wines, spirits, champagnes, ciders or beer.
In contrast to the old approach, duty is now payable per litre of alcohol contained in the product rather than per litre of product.
You may remember Rishi Sunak and Jeremy Hunt claiming that the impact on hospitality businesses and their customers would be negligible to the…
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