Vape prices to rise as new tax takes effect
Vaping is about to becoming more expensive due to a new tax on products.
The price of vapes is set to rise as a new tax comes into effect, with the aim of making vaping less attractive to children and young people.
The Vaping Product Duty will be imposed at a rate of £2.20 per 10ml of e-liquid. However, many customers will not see a jump in prices immediately, as sellers have six months to sell old stock at the pre-duty price.
The government wants to reduce the appeal of vapes by making them more expensive, as more evidence of its adverse effect on health comes out, particularly on children and young people.
The vaping industry has lobbied against the new tax, saying that affordable vapes help people to quit smoking.
The duty will apply to all vaping products regardless of whether they contain nicotine.
Tobacco rates were also raised on Thursday, by £2.20 per 100 cigarettes or 50g of tobacco. HMRC said this maintains the financial incentive for smokers to switch to vaping.
