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VAT to be Charged on Protein Shakes
Announced in the recent budget, VAT is now to be charged on all protein shakes, with this new law coming into place in October later this year.
There is a legal loophole which has prevented VAT (value added tax) being levied on sports drinks such protein shakes, however this is all set to change. At the moment these drinks are VAT exempt as they are seen as a food rather than a drink due to their ingredients. A spokesperson from the Treasury who have seen fit to tax these drinks has said “It’s the more shake style drinks that are being targeted. It’s around the edges really.”
The drinks that are set to be taxed include work out recovery drinks, creatine drinks, protein shakes and carbohydrate shakes, many of which can be seen on http://www.highproteinshakes.co.uk
These are used by many people who exercise to replace fluids lost through working out, they are also useful for people who want to consume more protein to build muscle without having to increase their intake of food. The market for these drinks is huge and the new VAT that will be imposed on them will bring the Government more money. Hurricane XS is currently one of the leading protein shake drinks - http://www.highproteinshakes.co.uk/
A document that was released by the Treasury stated that “This measure will tax sports nutrition drinks at the standard rate, ensuring that all sports drinks receive the same treatment whether or not they are consumed for nutritional purposes.” A consultation about implementing this law will be undertaken before the tax on sports drinks will go ahead, this will ensure that the new prices will be fair and across the board. The new prices with VAT added for sports drinks will happen in October 2012.
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HighProteinShakes.co.uk is a guide to the many different protein shakes that you can buy today, from the most popular protein shakes to those suitable for vegans and those who are looking to lose weight.