Value Added Tax Act 1994 section 18A

Fiscal warehousing

Section 18A sets out the framework for HMRC to approve VAT-registered persons as fiscal warehousekeepers, defining what constitutes a fiscal warehouse and the conditions under which approval may be granted, maintained or withdrawn.

• HMRC may approve any VAT-registered person as a fiscal warehousekeeper, subject to conditions, entitling them to operate a fiscal warehouse at a notified UK premises (excluding retail premises)
• When assessing applications, HMRC may consider the applicant's compliance record with VAT and customs legislation, and — for company applicants — the compliance records of directors, connected persons, managing officers and shadow directors
• A fiscal warehousekeeper retains that status until they cease to be VAT-registered or notify HMRC in writing that they wish to stop; HMRC may also impose additional conditions, vary or revoke existing conditions, withdraw approval, or remove fiscal warehouse status from any premises
• All applications, approvals, withdrawals and changes to conditions must be made in writing, with HMRC actions taking effect on notification or on any later date specified in the notice