Those who know me know one of my favourite tipples is gin, and one of the perks of being a capital allowances surveyor is, now and again, we get to see around some of the many artisan distilleries and breweries in the UK. It’s also great that we can help these clients reduce their tax bills via capital allowances, revenue deductions, land remediation relief, along with research and development allowances.
It’s great to see the number of micro-breweries and distilleries on the increase, especially gin! The Scotch Whisky Association recently stated that there were 128 distilleries producing Scotland’s main spirit, which is more than at any time since the end of the Second World War. The number of distilleries in Scotland is on course to have doubled in a decade. – great news. However, England for the first time has more distilleries than here in bonnie Scotland – wow!
It is of course, the global appetite for whisky and gin behind much of the increase but consumers now expect pubs and restaurants to offer a wide variety of artisan spirits. However, that shelf space can only be finite and to sustain their growth and income, craft distilleries will need to continue to chip away at the market share of the big brands and not allow them to catch up with their position as the exciting innovators.
While the barriers to entry may not be high, as a significant period of product development is required the challenge to grow and keep customers will become difficult thanks to the growing numbers entering the sector, large and micro. That is why as part of our specialist building series we have included information on distilleries and breweries to ensure that those investing in this sector are aware and can take advantage of the incentives available to them.
To read our article click here.