Autumn Budget 2024 – Food & Drink Businesses

1. How is the alcohol duty changing for draught products?

The Autumn 2024 Budget introduces a reduction in duty on qualifying draught products sold in pubs. This reduction applies to approximately 60% of alcoholic beverages sold in these establishments.

2. What support is being offered to small brewers?

The Government will launch a consultation exploring ways to provide further support to small brewers.

3. Are there any changes to duty stamps for spirits?

Yes, the mandatory use of duty stamps for spirits will be discontinued.

4. What is the Spirit Drinks Verification Scheme, and how is it being impacted?

The Spirit Drinks Verification Scheme enables spirit producers to verify the geographical origin of their products. A consultation will be conducted to determine how best to support the implementation and effectiveness of this scheme.

5. How is the soft drinks industry levy changing?

The soft drinks industry levy will be increased to further incentivise manufacturers to reduce the sugar content in their products.

6. Are there any planned changes to the sugar thresholds or exemptions within the soft drinks industry levy?

The Government will review the current sugar thresholds and the exemption for milk-based drinks within the framework of the soft drinks industry levy.

7. What business rate relief is available for hospitality businesses?

Hospitality businesses, along with retail and leisure businesses, will benefit from a 40% relief on business rates in 2025/26. This relief is subject to a cap of £110,000 per business.

8. Where can I get more advice?

Speak to us!… Old Mill have dedicated Food & Drink specialists to help with your accounts and financial planning.