VB Distribution secures approval ahead of scheme
NICOTINE products distributor VB Distribution has secured HMRC approval under the Vaping Products Duty and Vaping Duty Stamps scheme ahead of the rules coming into force in October.
This move has placed VB Distribution among the first UK distributors to be qualified to supply stamped and duty-accounted products from day one under the new legislation.
From 1 October vaping products will become an excise category and will be governed under similar rules to tobacco and alcohol options including a tax duty along with traceable stamps across products to ensure they are safe for use and not sourced through illicit channels.
With the approval now secured by VB, the firm can purchase stamps inside the transitional window, which closes on 31 August, to then build up stamped stock ahead of 1 October.
Natalia Gosciniak, chief executive officer at VB Distribution, said: “Approval is no longer an administrative step in this category, it is permission to trade.
“This milestone strengthens our readiness our readiness for the introduction of the duty and reflects months of work across our operations, compliance and supply chain teams.
“Our retail, wholesale and brand partners will trade through the transition with the availability and continuity they have always had from us.”
