The Revenue Traders (Accounts and Records) Regulations 1992
These Regulations require revenue traders to keep and preserve records containing information about their businesses and about their dealings in excise and other goods and services. The Regulations are designed to assist HM Customs and Excise, when carrying out periodic audits of a revenue trader’s business, to collect and protect the revenues derived from excise duties. In particular the Regulations are intended to facilitate the audits carried out by HM Customs and Excise for protection of the excise duties arising in the Single Market of the European Communities, which comes into existence on 1st January 1993.