Latest Industry News
21 Nov 2018
Data has revealed that the Soft Drinks Industry Levy generated £153.8 million for HMRC in the year-to-date, up to the end of October.
First announced in the 2016 Budget, the Levy came into effect from April 2018. It was introduced as part of a package of measures designed to combat childhood obesity.
The Soft Drinks Industry Levy applies to the packaging and importation of soft drinks containing added sugar.
According to HMRC, there are currently 457 traders registered for the Levy. Traders pay one of two rates: either the ‘standard rate’ of 18p per litre, which applies to drinks with sugar content between five grams and up to (but not including) eight grams per 100ml, or the ‘higher rate’ of 24p per litre, which applies to drinks with sugar content equal to or greater than eight grams per 100ml.
Commenting on the data, Robert Jenrick, Exchequer Secretary to the Treasury, said: ‘[The] figures show the positive impact the soft drinks levy is having by raising millions of pounds for sports facilities and healthier eating in schools, as well as encouraging manufacturers to cut sugar in over half the drinks found in UK stores.’
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