August 2023 UK Spirits Duty Increase; what’s in the price of a bottle?
The airwaves have been somewhat quiet of late on the increase in Alcohol Duty which will come into force next week on Tuesday 1st August 2023. With gin, vodka, whisky and rum, Spirits Duty is our concern and this has remained at £28.74 per litre of pure alcohol since before Yorkshire Dales Distillery starting trading in 2017. In line with inflation, this will go up to £31.64.
What does this mean for a typical bottle? In the UK, the standard currency is a 700ml or 70cl bottle on which you were paying £8.05 in Spirits Duty on a product at 40% abv. This will go up to £8.86! Once you add the associated VAT in, this in an increase from £9.66 to £10.63 tax paid directly to the Treasury on every single bottle.
And that’s before we’ve thought about the cost of packaging, distribution and a margin for the Retailer. Margins for producers are and always will be extremely tight. With some notable and current emerging innovation in whisky, rum and vodka production, there is a thriving craft spirits industry in the UK of which Yorkshire Dales Distillery is proud to be a part. We do whatever we can to ensure that we create some fantastic spirits for you to enjoy whilst keeping the cost down so that they are as accessible as possible.
So, when you’re browsing the aisles looking for something to enjoy or to give to your nearest and dearest remember what’s gone in to genuine craft spirits from British producers. We really value your support.
#excellence #opportunity #sustainability #innovation