Fiscal warehouses: Responsibilities of the warehousekeeper
Warehousekeepers are required to keep a record of all goods that are entered to their warehouse, whether or not they are the depositor. They are also responsible for the physical security of the goods and may be held liable for VAT on any unexplained stock discrepancies. Before goods can be removed from the regime, warehousekeepers are required to obtain sufficient evidence to be satisfied that the remover is the owner of the goods and either
- is VAT registered or
- has paid any VAT due on removal using form VAT 150.
Entry of goods to the regime
The warehousekeeper must satisfy himself that the goods are eligible to be warehoused, that is to say:
- they are included in the list in VWRHS5400;
- they are in free circulation within the EC;
- any import VAT payable in respect of the goods has been accounted for.
Goods should be entered into the fiscal warehousekeeper’s stock records in order to secure fiscal warehouse status.