The AWRS has three main elements: That you are a fit and proper person to hold registration; That you comply with record keeping requirements; That you exercise due diligence controls. This note summarises the record keeping requirements for wholesalers and trade buyers, whether they are themselves wholesalers or retailers.
As part of the Due Diligence requirement in the various excise regimes, it is necessary to carry out due diligence checks on existing and proposed customers, suppliers and contractors. This is also important from anti-money laundering and normal commercial perspectives.
This guidance is of immediate concern to members who hold HMRC excise authorisations, such as registered consignee, commercial importer, tax representative, WOWGR, distilling, compounding, rectifying and excise warehousing and wholesaler registration.
Advice found in the public domain in relation to Inheritance Tax and Capital Gains Tax as far as fine wine is concerned varies, greatly and leads to confusion for businesses and consumers. The document is provided as guidance and aims to clarify the situation.
Distance sellers may be targeted by fraudsters, who seek to obtain the seller’s products without paying for them. This document suggests possible risk factors and prevention strategies. Effective due diligence processes are now a legal requirement for registered excise traders and make good commercial sense for all traders.
Distance Selling: Counter-fraud guidelines
Last Updated:29Aug | 2019
Distance Selling: Guidance on age verification procedures
The WSTA produced a guide aimed at consumers wishing to invest in En primeur wines to advise of the checks they should make before investing in wine. The checklist is designed to protect buyers from the risk of wine fraud. Members are advised to reproduce this advice on their websites and/or use a link to the WSTA website.
WSTA Guide to the En Primeur Wine Market
Anti-Money Laundering Guidance for High Value Dealers
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