Search News


 

News

Lloyd & Co
Chartered Accountants

103-105 Brighton Road
Coulsdon
Surrey, CR5 2NG
020 8668 0500
This email address is being protected from spambots. You need JavaScript enabled to view it.

Source: HM Revenue & Customs | | 30/10/2018

As part of the Budget measures the Chancellor announced that the duty rates on beers, spirits and most ciders will be frozen at the current rates. These measures mean that a bottle of whisky will be £1.54 less and a pint of beer 14p less than if the rates had increased as expected based on the duty escalator.

However, the Chancellor did announce an RPI inflationary increase in the duty band for high strength sparkling cider known as 'white ciders' with alcohol levels above 5.5% from 1 February 2019. The price of wine will also increase by RPI inflation from the same date.

The duty rates on tobacco products were increased by 2% above the rate of inflation (based on RPI) effective from 6pm on 2 October 2018. The Chancellor also announced that the duty for hand-rolling tobacco will increase by an additional 1% (i.e. 3% above RPI) at the same time.



Latest News

Don’t overclaim for equipment purchases
15/01/2019 - More...
You can use the Annual Investment Allowance (AIA) to claim a very generous 100% first year tax relief for qualifying

Reducing payments on account
15/01/2019 - More...
Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two

Could you claim the Marriage Allowance?
15/01/2019 - More...
If you or your partner are a low earner or not working, then you may be eligible for the marriage allowance. The