Bespoke Tax Accountants

Specialist tax advice, accountancy and tax returns

01242 505970
info@bespoketax.com

  • Home
  • About Us
    • Meet The Team
    • Careers
    • Statutory Information
    • Privacy Policy
  • Who We Help
    • Personal and Family
    • Business
    • Our Clients
  • News
    • Making Tax Digital
  • Giving Back
  • Contact
  • Cloud Accounting
    • Xero

Sugar tax takes the sweetness out of soft drinks

11th April 2018 By bespoketax

Sugar tax takes the sweetness out of soft drinks

The new Soft Drinks Industry Levy came into effect with the start of the new tax year on 6 April 2018. The Levy commonly known as the ‘sugar tax’, has been put into effect to help combat the excess use of sugar especially by children.

Since the introduction of the sugar tax, many soft drink manufacturers have already reformulated their recipes to reduce the amount of sugar in soft drinks. Over 50% of manufacturers have already reduced the equivalent of 45 million kg of sugar per year from drinks.

However, soft drinks manufacturers who don’t reformulate will pay the levy, which is expected to raise £240 million each year. The money raised will be used to help schools upgrade their sports facilities and to provide healthy school breakfast clubs. The government has promised that even if revenue from the levy declines, funding for schools and children will stay the same.

Commenting on the launch the Public Health Minister, Steve Brine MP said:

‘Our teenagers consume nearly a bathtub of sugary drinks each year on average, fuelling a worrying obesity trend in this country. The Soft Drinks Industry Levy is ground-breaking policy that will help to reduce sugar intake, whilst funding sports programmes and nutritious breakfast clubs for children.’

Filed Under: General

Recent News

  • CGT during divorce or separation
  • Taxpayers who return to the UK
  • Corporation Tax – marginal relief from 1 April 2023
  • Claiming Child Trust Fund cash

News Categories

  • Budget Summary
  • Business
  • Business Support
  • Capital allowances
  • Capital Gains Tax
  • Company Secretarial
  • Construction Industry Scheme
  • Corporate Governance & Regulation
  • Corporation Tax
  • Customs Duties
  • Duties
  • Employee Benefits
  • Employment & Payroll
  • Employment Law
  • European Union
  • Family Tax Credits
  • General
  • HMRC notices
  • Income Tax
  • Inheritance Tax
  • National Insurance
  • NIC & Pensions
  • Other duties
  • Overseas personal tax issues
  • Overseas tax issues
  • Payroll
  • Pension
  • Personal
  • Practice News
  • Stamp duty
  • Stamp Duty Land Tax
  • Tax credits
  • Tax Diary
  • Value Added Tax
  • VAT & Duties

About Us

Bespoke has a reputation for helping our clients make the most of their financial situations and in turn we have become a trusted extension of their business or family.

Bespoke assist with compliance requirements, providing specialist tax advice, and planning for now and the future.

Keep informed.
Sign up for our Topical Newsletter

Our FREE monthly newsletter will keep you up to date with the latest news related to the world of accountancy.

Register Here

Contact

Delta Place,
27 Bath Road, Cheltenham,
Gloucestershire, GL53 7TH
01242 505970
info@bespoketax.com

ICAEW Chartered AccountantsXERO Gold PartnerChartered Institute of TaxationMember of EISA

Copyright © 2022 · Bespoke Tax Accountants · Website by Culpepper & Co

.