HCOTEG132290 - Central accounting points: Details of those functions carried out by the trader at the CAP: Netting
Traders approved for duty deferment may also be approved to set-off drawback and certain other repayments of excise duty against the duty due from them under the deferment arrangements.
This procedure is known as 鈥渘etting鈥� and is intended to allow oil companies to make supplies from duty paid storage locations at duty exclusive prices.
Deliveries under the netting procedures may only be made from duty-paid sites nominated for the purpose for a specific authorised use.
Further details may be found in Notice 179 section 12 and HCODA (X-99: Oils Duty Assurance) Guidance.
You should ensure that trader鈥檚 commercial records are adequate to support the schedules and claims in the HO65 series as required by Notice 179.