Spirits Duty Stamps abolished thanks to BDA campaign – The Gin Guide
The British Distillers Association (BDA) has announced that the Spirits Duty Stamps have been abolished, a move that is expected to benefit the gin industry. The stamps, which were introduced in 2019, required distilleries to affix a duty stamp to each bottle of spirits before it could be sold. However, the BDA has been campaigning against the stamps, arguing that they were unnecessary and added to the cost of production.
What are Spirits Duty Stamps?
Spirits Duty Stamps were introduced by HM Revenue & Customs (HMRC) in 2019 as a way to track and tax spirits production. The stamps were required to be affixed to each bottle of spirits before it could be sold, and the duty was paid by the distillery. However, the BDA argued that the stamps were unnecessary and added to the cost of production, making it harder for small distilleries to compete with larger ones.
Why were the stamps abolished?
The BDA has been campaigning against the stamps for some time, arguing that they were unnecessary and added to the cost of production. The association has been working with HMRC to find an alternative solution, and it appears that the stamps have now been abolished. The move is expected to benefit the gin industry, as it will reduce the cost of production and make it easier for small distilleries to compete with larger ones.
What does this mean for the gin industry?
The abolition of the Spirits Duty Stamps is a major win for the gin industry. It will reduce the cost of production and make it easier for small distilleries to compete with larger ones. The move is also expected to benefit consumers, as it will lead to a wider range of gins being available at a lower price. The BDA has been working to promote the gin industry and make it more accessible to consumers, and the abolition of the stamps is a major step in the right direction.
Conclusion
The abolition of the Spirits Duty Stamps is a major win for the gin industry. It will reduce the cost of production and make it easier for small distilleries to compete with larger ones. The move is also expected to benefit consumers, as it will lead to a wider range of gins being available at a lower price. The BDA has been working to promote the gin industry and make it more accessible to consumers, and the abolition of the stamps is a major step in the right direction.
