Finance Act 2026
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Change 1
126 Loss and misuse of duty stamps
(1) An approved stamp holder to whom a duty stamp is issued and delivered is liable to a penalty if— (a) the stamp is lost, or (b) at the end of the period of 12 months beginning with the day on which the stamp was issued, the stamp has not been— (i) affixed to, and activated in respect of, a vaping product, (ii) returned to a stamp issuer, or (iii) destroyed. (2) Subsection (1) does not apply if the stamp was lost in circumstances where the approved stamp holder— (a) did not cause the loss, and (b) took all reasonable steps to protect against the loss. (3) The penalty under subsection (1) is an amount equal to five times the monetary amount specified in section 115 (excise duty: charge). (4) The following is conduct which attracts a penalty under section 9 of FA 1994— (a) altering a duty stamp after it has been issued; (b) affixing an invalid duty stamp to a vaping product. (5) In this section, an “invalid duty stamp” means— (a) a duty stamp which has been altered after it has been issued; (b) a document which purports to be (but is not) a duty stamp; (c) a voided duty stamp.
126 Loss and misuse of duty stamps
(1) An approved stamp holder to whom a duty stamp is issued and delivered is liable to a penalty if— (a) the stamp is lost, or (b) at the end of the period of 12 months beginning with the day on which the stamp was issued, the stamp has not been— (i) affixed to, and activated in respect of, a vaping product, (ii) returned to a stamp issuer, or (iii) destroyed. (2) Subsection (1) does not apply if the stamp was lost in circumstances where the approved stamp holder— (a) did not cause the loss, and (b) took all reasonable steps to protect against the loss. (3) The penalty under subsection (1) is an amount equal to five times the monetary amount specified in section 115 (excise duty: charge). (4) The following is conduct which attracts a penalty under section 9 of FA 1994— (a) altering a duty stamp after it has been issued; (b) affixing an invalid duty stamp to a vaping product. (5) In this section, an “invalid duty stamp” means— (a) a duty stamp which has been altered after it has been issued; (b) a document which purports to be (but is not) a duty stamp; (c) a voided duty stamp.
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