HMNCT2030 - Background: Why have we introduced a requirement for traders to notify HMRC of cash transactions?

Payment in cash for excise goods and related services is known to be a feature of high risk transactions and fraud. Cash payments can introduce difficulties for officers wishing to establish who owns excise goods at a particular time and also in establishing whether supplies of excise goods are genuine transactions. Dealing in cash may make it easier to suppress sales from business records, which in turn can help traders hide diversion fraud.

Introducing this measure will help to better identify risk within the duty suspension system allowing us to focus our efforts towards our target to significantly reduce spirits fraud.