Ease into the new alcohol duty system
The clock is ticking as the temporary easement period for the new ABV-based alcohol duty system is set to end on January 31st, 2025. Meanwhile, the WSTA tried their best to extend the deadline, but to no avail and many wine businesses are feeling the pressure of adapting to these complex tax calculations. But, did you know software solutions exist, like the Wine Hub, that can manage duty calculations for you?!
Wine Hub’s duty management feature eliminates the headache of alcohol duty management. Of course as a wine business you will need to upload ABV values into the Wine Hub system against every product, but the platform will then be able to perform tax auto-calculations instantly, regardless of whether duty rules are under current easement conditions, or post-February 1st, 2025.
In addition, a huge relief is provided for Liv-ex subscribers using the Wine Hub, owing to the advanced integration between the two platforms, enabling ABV values to be pulled from Liv-ex into the Hub for you. This removes a hefty workload of data entry for your team.
Duty management is becoming increasingly complex for wine and spirits businesses. Researching ABV values for a large inventory position, especially for back vintages, inevitably becomes a project. Let Wine Hub help you to calculate alcohol duty and streamline other administrative burdens, so you can focus on what matters most — your business.
Reach out to our team to find out more, email contact@wineowners.com
