14/06/18 WOWGR Application Successful

Thursday, June 14th, 2018

M&R Tax are pleased to announce that they have been successful with assisting a client with their request to be approved by HMRC under the Warehousekeepers and Owners of Warehoused Goods Regulations 1999 (‘WOWGR’).  The approval by HMRC can often be a difficult, painful and drawn out process since HMRC expect directors to demonstrate they are ‘fit and proper’ persons and to have a rigorous due diligence policy in place in accordance with HM Public Notice 196 section 10.  HMRC will always visit a company once an application has been submitted to test a company’s business plan.  In this particular case the application was approved within 2 months of it being submitted.

HMRC do expect the company to undertake due diligence checks on both suppliers and customers prior to any transactions being made.  Furthermore HMRC will review a company’s WOWGR approval within 6 months of the issue of the certificate.