There must be some red faces at certain wine merchants, I would imagine, now that the UK government has done a U-turn on allowing tax relief on 'exotic' investments such as wine, as part of self invested pension plans, or SIPPS, from next April.
As you know, I have been sceptical about this all along, and was not looking forward to the widening of the gap between wines for investment and wines for drinking that would inevitably have resulted. (I do wonder whether it isn't rather galling for first growth winemakers to think of how few people will be able...
