Whiting tax tip stirs up Pink Gin craze

Office of Tax Simplification policy director confesses to a bit of alcohol-related tax planning advice.

As the tax/policy director at both the CIOT and the OTS and a regular commentator on the BBC, John Whiting is the public face of tax simplification.

And with tax avoidance rating very high on the political Richter scale, it’s very unusual to hear him offering tax planning tips. But he did just that in an aside during his speech at the recent IRIS World event in Twickenham.

It’s one that will appeal in particular to those with a taste for Pink Gin, as it relates to Angostura bitters, the piquant Trindadian flavouring that gives the cocktail its characteristic colour.

For those who don’t know, it’s quite alcoholic - 30-degree proof, Whiting expxlained.

But since Angostura bitters is currently classified as a food additive, it doesn’t carry excise duty. This is one of the 80 or so reliefs and exemptions that will be abolished as part of an OTS-inspired purge in the Finance Act 2012.

“In terms of simplification, there isn’t much argument for it carrying on that exemption. Sadly we had to abolish abolish it from next April,” Whiting told the audience.

“Anybody who has a liking for Pink Gin, you’ve got about six months to lay in a good supply. I’ve probably done more for Angostura sales than most have done for few years,” he added. 

Comments
carnmores's picture

i like 5 & 7 , its in orange now as well!

carnmores | | Permalink
  • Unique flavour enhancer (seasoning) for the preparation of alcoholic and non-alcoholic beverages, as well as, any savoury or sweet food dishes

  • Sodium and Gluten-Free

  • Exported to 150 countries worldwide

  • Kosher Certified

  • Tempers the acidity of citrus ingredients for individuals who are acidsensitive (also explains why Angostura® aromatic bitters can settle the stomach)

  • Classified as a food ingredient in many countries

  •  Although the product contains 44.7% alcohol by volume, each dash contains an insignificant amount of alcohol and therefore remains non-alcoholic !! yea right

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