Section 6 바카라 사이트� changes in ownership

Information on what you need to do when you transfer your alcoholic products production business to a new owner.

6.1 Changes in Ownership听听

Your alcoholic products producer approval (APPA) will not transfer to the new owner of a business where both of these apply:听听

  • the existing business with an alcoholic products producer approval (APPA) is to be sold or transferred as a going concern (including all assets, liabilities and obligations)听
  • the sale is from one legal entity, to be carried on as a business in the name of another legal entity听听

For example, a sole proprietor might sell to another sole proprietor, a partnership or a limited company.听听

The new owner must:听听

  • make sure that an alcoholic products producer approval (APPA) is in place before the sale or transfer takes place听听
  • where required, apply for an alcoholic products producer approval (APPA)听
  • be able to demonstrate that they meet the 바카라 사이트榝it and proper바카라 사이트� test听

The new owner should apply at least 45 days before the date they need an alcoholic products producer approval (APPA). This is the date the business changes ownership, unless HMRC otherwise allows.听听

They should apply:听听

Once the original owner is aware of who the buyer will be, they should notify HMRC that they intend to sell their business. You should follow the process outlined in section 4.25 to notify HMRC of changes to your approval.听听

HMRC reserves the right to ask for a different application arrangement to the one described in this guide. This may occur where HMRC is satisfied that the new owner has already passed the necessary checks for approval. An example could be the transfer of an existing approved premises (or whole business) between two different approved producers. In such cases HMRC will discuss any revised arrangements directly with the new owner.听

At the point that the new approval applies, we will cancel those granted to the original owner before the transfer. We바카라 사이트檒l co-ordinate with the new and original owners make sure this happens at the point that ownership changes.听

6.2 New owner obligations听听

As a new owner, you must be approved to produce alcoholic products and(or) hold alcoholic products without payment of duty as set out in this guide. If you are not:听听

  • any alcoholic products in your possession could be liable to forfeiture听听
  • we will assess you for any excise duty due on alcoholic products which you produced or held whilst not approved听听
  • we may also issue you with a financial penalty for breaching approval requirements听听

6.3 Changes in an approved limited company바카라 사이트檚 ownership听听

A limited company바카라 사이트檚 existing approval and (or) holding approvals will remain in force if the actual approved legal entity remains the same after a change of ownership. For example, this could occur following a complete transfer of company shares.听

If we have concerns that the new owner would not meet the usual background checks we would carry out on a new approved premises and there is insufficient assurance around the approval we will consider either:听

  • cancelling the existing approval of the limited company
  • adding conditions and restrictions to the approval to limit any new risk identified听听

We advise new owners to contact HMRC for advice before the change of ownership. We ask you to be ready to share existing approval information held by that company.听听

If you are unsure whether you need to make a new application, contact excise and gambling duties enquiries in advance of any sale or transfer听听

6.4 Changes to persons with significant control and other key persons in a limited company听听

In this guide, a person with significant control is someone who holds:听听

  • more than 25% of shares in the company听听
  • more than 25% of voting rights in the company听听
  • the right to appoint or remove persons from the board of directors听听

You must tell HMRC where there is:听听

  • a significant partial sale in shares, creating a new person with significant control听听
  • any change to directors and company officials听听

If we have concern following any such change, we will consider either:听听

  • cancelling the existing approval of the limited company
  • adding conditions and restrictions to the approval to limit any new risk identified听听

If you are unsure whether you need to make a new application, contact excise and gambling duties enquiries바카라 사이트痠n advance of any sale or transfer.听

6.5 Financial security required by HMRC听听

HMRC will have informed the previous legal entity if financial security is required. The new legal entity must make sure that any financial securities required remain in place when they take over the business.听听

If you are unsure about whether you need to arrange financial securities, contact excise and gambling duties enquiries.