Duties

Tobacco duty

The duty rates for all tobacco products will be increased by 2% above the rate of inflation (based on RPI) from 6pm on 20 March 2013.

Alcohol duty

The duty rates for spirits, wine and made-wine, cider and perry will increase by 2% above the rate of inflation (based on RPI) with effect from 25 March 2013. This will add 2p to the price of a litre of cider, 10p to the price of a bottle of wine and 38p to the price of a bottle of spirits.

The duty rates on beer will decrease with effect from 25 March 2013. This will reduce the price of an average strength pint of beer by 1p.

Stamp duty on junior shares

In Finance Bill 2014 the Government will bring forward legislation that abolishes stamp duty and Stamp Duty Reserve Tax on share transactions in UK companies quoted on Small Company Growth Markets. This is effective from April 2014.