Category Taxation in UK

UK Sugar Tax is Already Working

April 9, 2018 Taxation in UK

sugar tax in the UKLONDON – The UK’s sugar tax has already forced drinks manufacturers to reduce their sugar, and will lead to young people consuming less sugar, while older consumers are showing very little sign of wanting to change.

New research conducted by experts at the UK Institute of Fiscal Studies has suggested that the country’s newly-enacted sugar tax will lead to a reduction in sugar consumption among only a select group of people in the country.

Under the new rules enacted on the 6th of April, drinks manufacturers will need to pay a tax of GBP 0.18 per litre on drinks with a sugar content exceeding 5 grams per 100 ml, and a higher tax of GBP 0.24 per litre on drinks with more than 8 grams per 100 ml.

The researchers believe that most consumers will see some reduction in their sugar consumptio...

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Taxes Are Killing the UK Pub

March 19, 2018 Taxation in UK

Pubs in the UKLONDON – Pubs are a bastion of British culture and need to be considered when forming tax systems, according to campaigners.

Too many British pubs are closing, and a tax change is needed to put an end to the closures, according to a statement by the Campaign for Real Ale (Camra).

Over the second half of 2017 an average of 18 pubs closed each week in the UK, and between 2008 and 2013 a total of 7 000 pubs closed, taking with them approximately 58 000 jobs.

Camra claims that the closures can be attributed largely to the tax burden faced by pubs.

They stated that pubs in the UK face one of the highest rates of beer duty in Europe, along with rising rates of VAT and business tax.

The experts at Carn claimed that the departure of the UK from the EU represents a perfect opportunity for the cou...

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UK Mulls the Idea of Gum Tax

March 13, 2018 Taxation in UK

cleaning chewing gumLONDON – Chewing gum costs so much to clean up each year, that the UK government may start taxing it to recoup their losses.

On March 13th the Chancellor of the Exchequer of the UK Philip Hammond is expected to announce the launch of a new public consultation of potential tax measures aimed at eliminating or reducing the spread of single-use plastics.

Taxes on single-use plastic items are an increasingly popular measure around the world, and the UK looks set to join the ranks of countries with similar taxes.

The Exchequer indicated that the consultation will also include discussions on whether any such tax should be levied on chewing gum, which is made up of compounds similar to those seen in plastic products.

Currently, chewing gum is the second most common type of rubbish found on the ...

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750k Brits Missed Their Tax Deadline

February 2, 2018 Taxation in UK

HMRC deadlineLONDON – The HM Revenue and Customs have revealed that nearly three-quarters of a million taxpayers did not file their mandatory tax self-assessment forms this week.

The deadline for filing tax self-assessment forms for UK taxpayers was January 31st.

However, a total of 745 588 failed to meet their obligation.

Overall, 10.7 million returns were filed, and 30 348 of those were filed in the last allowable hour.

Despite the significant number of missed fillings, the compliance rate has actually improved.

In 2017 the compliance rate was 7 percent, while in 2016 the rate was 8 percent, and now the rate has dropped to 6.5 percent.

Those who file their return late face a penalty of at least GBP 100, although further penalties may be incurred if no effort is made to comply with their requiremen...

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Sugar Taxes Make You Drink More Beer

January 24, 2018 Taxation in UK

sugar taxesLONDON – Taxes will reduce soda consumption, but it may only be replaced an even more harmful amount of lager.

New research published in the Journal of Epidemiology & Community Health has suggested that a tax on sugary sweetened drinks may lead to a higher consumption of beer.

By analysing historic sales data of beverages in the UK, researchers were able to determine that a relationship exists between the cost of sugar-sweetened drinks and substitute purchases of other alcoholic drinks.

The researchers found an indication that a tax on sodas and other sweetened drinks would lead to a higher level of consumption of larger.

However, while the consumption of larger would rise, the consumption of cider, spirits, and some wines would drop.

The exact nature of how spending patterns change vari...

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