Money News
| Typical APR Variable | Max Int Free | ||
|---|---|---|---|
|
14.9% | 56 days |  |
|
|
14.9% | 56 days | |
|
14.9% | 56 days | |
|
14.9% | 56 days | |
|
15.9% | 56 days | |
| * Based on Lowest Standard Rates and is not a full search of the whole market | |||
The usual round of excise duty increases on booze and tobacco came with the, now, usual news that duty on spirits is frozen - for the seventh year running. Less cheer for bubbly, the increase in duty on sparkling wine acts to increase the duty differential between fizz and ordinary plonk.
Smokers were hit again (as usual) but Gordon Brown was also trying a bit of social engineering. As well as hiking up tax payable on cigarettes by 11 pence a box in Budget 2007, he has provided further incentives for smokers to kick the habit by reducing the VAT payable on 'smoking cessation' products such as nicotine patches and smoking pens.
The reduced rate of 5% will apply for one year and will take effect alongside the introduction of the ban on smoking in public places scheduled for 1 July this year. Smoking cessation products that are dispensed on a prescription remain zero-rated.
15 July 2008 © Moneyextra.com
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