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HMRC internal manual

Holding and Movements - Financial Securities Assurance

HM Revenue & Customs
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Background: Defining a revenue trader

The definition of a revenue trader is given in the Customs and Excise Management Act(CEMA) 1979 section 1:

“revenue trader” means

[(a)] any person carrying on a trade or business subject to any of the revenue trade provisions of the customs and excise Acts [or which consists of or includes-

(i) the buying, selling, importation, exportation, dealing in or handling of any goods of a class or description which is subject to a duty of excise (whether or not duty is chargeable on the goods); . . .

whether or not that trade or business is an excise licence trade [; and includes a registered club]; 

(b) any person who is a wholesaler or an occupier of an excise warehouse (so far as not included in paragraph (a) above),’

The traders listed in HMFSA1050 can normally be defined asrevenue traders and are subject to all revenue trader conditions and requirements,including record keeping, assurance and sanctions.