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HMRC internal manual

Oils Technical Manual

Relevant Law: Excise duties (deferred payment) Regulations 1992

Instead of paying duty as it is due on the day, approved persons can put in a ‘deferment’ return - this is in effect the same principle as putting in a VAT return.

Section Section title Summary and comments
3 Application …is that the Regulations apply to biofuels and hydrocarbon oils on which duty would be due immediately but for deferment.
4 Approved persons …have to be approved by us for deferment.
5 Deferment payment days Instead of paying as you go along you can ‘defer’ until a payment day - a range of conditions for different goods - oils and biofuels specifically mentioned
6 Set-offs Allowing rebates due on oils including biofuels to be off-set against duty due - Acts listed on form HO10.
7 Adjustments Allowing us to adjust for over and under declarations.
8 Security Financial security.
9 Conditions We can set them.
10 Change of circumstances We have to be told immediately
11 Purposes for which excise duty is treated as paid Lists all the sections of all the acts that require duty to be paid that can be deferred.
12 Savings for requirement of other regulations these Regulations cannot be construed as removing any obligations in any other Act or Regulations