Full-fat Coke contains 10.6g of sugar per 100ml - but instead of changing the recipe, Coca-Cola plan to increase prices and shrink sizes. The changes to the drink are set to happen in March - but Coca-Cola Zero Sugar and Diet Coke, and the brand's other no-sugar colas will remain the same.
The sugar tax will mean that fizzy drinks manufacturers will be taxed at 18p per litre on drinks containing 5g of sugar or more per 100ml.
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Beverages with 8g of sugar or more per 100ml will see a 24p tax per litre.
Last week it was announced that the recipe for Irn-Bru, Scotland's most popular soft drink, would be changed in the coming weeks to reduce the amount of sugar by 50%.
Here's how you reacted to the news of Coca-Cola's plans on social media:
Chris Parry: "Any excuse. Is that why Snickers, Mars Bars etc have been getting smaller and more expensive. Looking after OUR health?"
Deb Pulling: "Stopped drinking it ages ago, it tastes disgusting!"
Mark Bain: "Put a penny in a load of the stuff ... does the same to your insides ... daunting."
Paul Orr: "More interference from the government and the consumer suffers."
Amy Louize: "Wont stop people from drinking it."
Piers Storey: "Or drink in moderation and exercise just a thought."
Tscott Kevin: "They could just cut the amount of sugar."
Karl Laundon: "Why should one global company start making changes for something that has worked for the sake of one government? The UK government thinks it can dictate to us what we should eat and drink ... surely that’s against our human rights!"
Tom Kelly: "They previously shrunk the 2l bottle to 1.75 and kept the price similar if not higher. So another piece of shrinkflation."
Adam Rollinson: "Nanny state in action, people need to take responsibility for their own actions."
Simon Watson: "What about the millions of takeaways on every street corner? But you wanna tax my pop? Pathetic this government, in fact, laughable."