Trade deals away, UK does free trade deal with Australia
The new free trade deal between Australia and the UK may not be earth shattering to the wine industry or the cost of wines, but will help improve the competitiveness of Australian wine.
Duty in the UK is made up of three taxes:
Excise duty, paid on all wines which is currently £2.23 for a 750ml of still wine.
VAT worth 20% of the value of the wine. This is unaffected by the trade deal.
Customs duty, this will be the saving. Depending upon the alcohol level it can range from 7.5p to 9p per bottle but of the three taxes it is the least significant.
