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HMRC internal manual

Tobacco Products Duty

From
HM Revenue & Customs
Updated
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Accounting procedures: Special Accounting periods

If the trader is approved for duty deferment he may apply for his duty returns and stockaccounts to be based on accounting periods of four and five weeks, instead of the strictcalendar month, providing the following conditions are satisfied.

  • The trader must agree with you in advance a programme of twelve accounting periods per year. This must be a mixture of four and five week periods which are so arranged that, on average, the deferment period is not increased. If the trader proposes accounting periods, which he already uses for his own purposes, he should indicate how these are determined, so that you can consider the pattern in the future.
  • These accounting periods must end on dates that will enable the accumulated duty liability figure to be presented to you not later than the morning of the fifth working day of each calendar month.
  • The trader must, if required, be prepared to provide additional security if the accumulated duty liability in the five week periods is likely to exceed the existing security limit.

You can approve satisfactory applications locally, but you should advise the TobaccoTeam and the Central Deferment Office (CDO) of the details. You should also consult withthe Tobacco Control Forum (TCF) to ensure equity of treatment with other tobaccomanufacturers.