VPDS171100 - Vaping Products Duty and Vaping Duty Stamps: Record keeping: General
UK vaping product manufacturers and UK Duty Representatives are bound by the requirements of the Revenue Trader (Accounts and Records) Regulations 1992 (‘RTAR 92’) and the provisions of notice 206 revenue traders’ records.
The general records that must be kept are:
- a duty account which details how VPD has been accrued in the accounting period. This should include any adjustments made for under or over declarations and details of any repayment claims
- stock records showing receipts, goods held and put into operations
- details of vaping products despatched as duty paid. This should include dates, quantities (liquid volume), and delivery locations
- details of vaping products despatched under duty suspension
- copies of returns and evidence of payment of vaping products duty, as well as details of how the duty has been calculated
- an audit trail showing details of production figures, purchases of raw and finished materials, details of any imports made (including an audit trail of any customs procedures that have been followed). This should be linked to sales, exports and destructions
The audit trail and evidence held by the trader should allow you to follow the raw materials through to production and the route by which they came to leave the traders premises, whether that be under duty suspense, duty payment or destruction.
There are additional record keeping requirements as detailed below for each type of approved trader.