Declining Sales for Shaving Products Could see the Introduction of Beard Tax as Early as 2022
Recent years have seen a boom in men sporting the ‘ZZ-Top’ style beards and to keep up with the growing trend there has been a significant increase in products on the market to keep the beard in ‘tip-top’ condition with a vast range of conditioners and oils, according to studies.
However, it has not gone unnoticed with the steady increase in price for all beard products. Many men are still willing to pay for the privilege of keeping the face-fuzz, but will also have to pay a new ‘luxury tax’ on top and could see a massive 34% VAT rate slapped on all products with the words ‘beard’ and ‘beards’ on the packaging.
With the facial hirsute population on the increase the proposed new tax will see many men reaching for their razor once again to avoid the steep rise in price, for owning and growing hair on the face.
It seems the men with the longest, bushiest beard will be affected by the new ‘luxury tax’ that will be introduced throughout the UK to cover the cost the VAT lost on shaving products.
The proposed ‘Pay as You Grow Tax’ and what it means for those boycotting shaving products from 2022:
- Beard shampoo
- Conditioner for beards
- Beard oil
- Beard Comb
- Beard Deodorant
- Beard net
- Beard glitter
All items listed above will carry a much higher VAT rate under the new proposed post- Brexit. Some would argue this is an unfair tax targeting the fashion-conscious male.