A WOWGR, also know as The Warehousekeepers and Owners of Warehoused Goods Regulations is a certificate that is licensed by His Majesty's Revenue and Customs 'HMRC' (The UK Tax Authority). This licence is required for businesses in the United Kingdom to store, distribute, and trade duty-suspended excise goods, such as alcohol, tobacco, and certain fuels. It also allows businesses, such as ours, to operate within the excise warehousing regime, allowing us to handle goods on which excise duty has not yet been paid. This in our case is Whiskey Casks.
Purpose: The WOWGR Licence ensures that only authorised individuals/businesses can store and trade excise goods under duty suspension. This helps prevent fraud, smuggling, and ensures compliance with tax regulations. Compliance: Licensed businesses must comply with strict record-keeping and reporting requirements. HMRC conducts regular audits to ensure ongoing compliance with the regulations.
Penalties: Non-compliance with WOWGR regulations can result in severe penalties, including fines, revocation of the license, and criminal prosecution.