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I didn't realise that you had to re calculate your SPR every February.
Duty increase.
- Thread starter Donegal john
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Yep. It’s because your relief for the forward year is based on your alph from the previous 12 months.
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I appreciate that but surprised that there was no reminder about it, as it is only referred to minimally on the site or from what I have found.
And Feb 1 to Jan 31 seems a random choice of dates? (as opposed to jan 1 to dec 31 or financial year)
And Feb 1 to Jan 31 seems a random choice of dates? (as opposed to jan 1 to dec 31 or financial year)
Yep, also surprised there was no reminder but I do remember they told us it was Jan 31 when the new rules started.
Fortunately not a big increase for us this time round.
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Yes, but it says nothing about doing it each year, just refers to specific year?
I didn't read it that way.
I agree its not that clear though, like the rest of notice 226! You have to assemble the full picture from a few paragraphs
"For the transition year 1 February 2023 up to and including 31 January 2024..."
"A production year is from 1 February up to and including 31 January."
"You must recalculate the Small Producer Relief rate before the start of each new production year."
I agree its not that clear though, like the rest of notice 226! You have to assemble the full picture from a few paragraphs
"For the transition year 1 February 2023 up to and including 31 January 2024..."
"A production year is from 1 February up to and including 31 January."
"You must recalculate the Small Producer Relief rate before the start of each new production year."
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Its absolutely appalling the way it is written. The 'you must recalculate...' comes under examples! And I've just read 8.2 Alcohol Production Account, thats a new thing as well, most info already kept but
- previous production year’s actual production (to be recorded each month)
makes little to no sense as the production year is 01/02-31/01?!?!?
I'm glad I have Breww.com. I'll let them work it all out for me. Worth every penny.
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