Institute of Certified Bookkeepers
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November 2017 Question of the Month – Distillers and Excise Tax

  • 123 posts
  • # 115984

Recently took on a new client that is a boutique Gin distiller and is unclear on how to treat this with regard to excise tax. This is not WET, so how is this done?

  • 123 posts
  • # 116041

There have been several questions coming up about this area and as this is not WET, it can be confusing on how to this should be treated and even entered correctly.

This is compounded by the type of software being used as there are several variables to consider in covering the stages of recording the litres of duty. Most boutique distillers in this situation keep a relevant spreadsheet, and then transfer that information to the Excise return.

The Journal Entry is as follows:

  • After the amount payable has been calculated for the period:
    • DR   C.O.S. ACCOUNT (N-T or BAS excluded)
    • CR   Liability A/c – Excise Duty Payable. (N-T or BAS Excluded)
  • Then allocate the payment to the “Excise Duty” payable account.

For more information, the following links will provide additional support:



Edited at 15 Dec 2017 04:45 AM GMT

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