Excise Duties Consultant at Alan Powell Associates; Founder and Co-ordinator of the British Distillers Alliance
Happy to give update on HMRC's (and my) preferred option to repeal registration of owners/duty reps from the WOWGR provisions. It never had any purpose for casks (if it had any purpose at all) and repeal will mean no (need for) intermediaries between warehousekeepers and the "real" owners (investors) and it won't matter whether the investment constitutes being a "revenue trader" or not. Just like it was before 1999 for all warehoused excise goods - and just like it has always been for wine, other fermented products and the biggest revenue earner of all - hydrocarbon oil (fuels). It WILL mean the owner will have obligations under the Excise Warehousing (Etc) Regulations 1988 as a "proprietor" of warehoused goods to keep records and notify the warehousekeeper of purchases or sales of their goods in warehouse but the record of ownership will be clear. WOWGR is diabolical! #cask #scotchwhisky #bondedwarehouse #WOWGR #Blair Bowman #Vikki bruce #
🥃 Exciting News! The Scottish Distillers Conference is just ONE WEEK away! 🗓️ Join us for an enlightening morning session on "Protecting the Trade of Scotch Whisky Casks," featuring a stellar panel hosted by Rosalind Erskine, The Scotsman : 🎤 Vikki Bruce 🎤 Blair Bowman 🎤 ALAN Powell Get ready to dive deep into the world of Scotch whisky casks, trade protection, and expert insights that'll leave you thirsting for more knowledge. 🔗 Register now and secure your spot: https://bit.ly/3QbFOKy Don't miss this golden opportunity to learn from the best in the industry. See you at the #ScottishDistillersConference! #CaskProtection #ExpertInsights #WhiskyIndustry Paula Dickson Kirsten Speirs Stephanie Newlands Sarah B. Courtney Cummings
Co-Founder at Proofworks/Metacask | Technical Advisor | Blockchain Enthusiast | Technologist
12moAmazing, and that's exactly where blockchain will help. Warehousekeeprs actually can see the transactions on the blockchain as they are traded, no need to even notify!