KWARTENG SCRAPS ALCOHOL TAX HIKE SUDDENLY
Chancellor Kwasi Kwarteng cancelled tax hikes on beer, wine, spirits, and cider.
Alcohol duty is revalued annually to keep up with inflation, although it's been slashed or frozen in every budget since 2013.
Rishi Sunak, Mr. Kwarteng's predecessor, promiseda new alcohol taxation regime for 2023.
"We're also modernising alcohol duties," he stated in his mini-budget speech.
From February 2023, 5% tax cuts on draught beer and cider will be extended to 20-litre kegs to support bars devastated by epidemic closures.
He also promised an 18-month wine duty transition while the administration changes.
Further Discussion Reagarding that going on with Comapany at Year end and Tax will applicable in Feb23 only
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