Vape tax comes into effect - but prices won't rise yet
Key Takeaways
New £2.20 tax per 10ml of e-liquid introduced.
Six-month grace period for retailers to sell old stock.
Goal is to reduce vaping appeal among youth.
Tobacco taxes also increased to maintain switching incentives.
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A new 'Vaping Product Duty' has officially come into force, imposing a tax of £2.20 per 10ml of e-liquid. The government's primary objective is to curb the appeal of vaping among children and young people by increasing costs.
Despite the new legislation, consumers will not see immediate price hikes. Retailers have been granted a six-month grace period to clear existing stock at pre-duty prices. Meanwhile, tobacco taxes have also been increased to maintain the incentive for smokers to switch to vaping.
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