The Wine and Spirit Trade Association (WSTA) has found that pubs around the UK are to face a tax raid of £1b over the next five years.
According to figures from the Office of Budget Responsibility, the government plans to increase alcohol duty by over 3% a year for each year of Parliament – a cumulative rise of 18% up to 2022 which could see pub landlords hit with an additional duty bill of £4,374 each.
The increase would push pubs’ duty bill for wine and spirits up by an additional £110m a year by 2022. This means that pubs will have to find an additional £333m a year in duty payments by the end of the Parliament, on top of the nearly £2b a year that already goes to the Treasury.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.