Stratford-upon-Avon
13 The Courtyard
Timothy's Bridge Road
Stratford-Upon-Avon
Warwickshire CV37 9NP
A new excise duty on vaping products came into force on 1 October 2026. Vaping Products Duty (VPD) applies to vaping liquids manufactured in, or imported into, the UK, whether or not they contain nicotine.
The duty is charged at £2.20 per 10ml of vaping liquid. It is paid by manufacturers, importers and certain wholesalers, although businesses may choose to pass the cost on to retailers and consumers. Vaping products kept in approved warehouses can be held without paying the duty until they are released for sale.
The introduction of VPD is accompanied by a new Vaping Duty Stamps Scheme. Vaping products manufactured or imported from 1 October 2026 must carry a duty stamp on their retail packaging. Transitional stamps without digital functionality can be used until 31 December 2026, with digitally enabled stamps becoming mandatory for new products from 1 January 2027. The stamps are intended to improve traceability and help HMRC and other enforcement agencies tackle illicit sales.
A six-month transitional grace period applies to existing eligible stock. Wholesalers and retailers can continue to sell unstamped, non-duty-liable stock until 31 March 2027. From 1 April 2027, all vaping products sold in the UK must carry a valid vaping duty stamp.
New personal allowance rules also apply to travellers. Those arriving in Great Britain can bring up to 50ml of vaping liquid for personal use without paying duty or tax. Amounts above this must be declared, with duty and tax payable on the full quantity.
The government expects VPD to raise more than £550 million a year by 2030-31. The new duty was first announced at Spring Budget 2024 and then confirmed at Autumn Budget 2024.
Grenfell James Technology Adoption Index
How does your business perform against others adopting financial tech? Find out with our interactive diagnostic:
1.
How does your business receive invoices?
A)
Invoices are mainly received in paper form
B)
Invoices are mainly received by email
C)
Invoices are emailed then automatically forwarded to a designated mailbox
2.
How are purchase invoices processed?
A)
Invoices are entered manually
B)
Invoices are attached to manually raised invoices
C)
Automated software (e.g. ReceiptBank, 1Tap, HubDoc etc) collates invoices
3.
How are accounts processed?
A)
Using Excel/paper-based
B)
Using Computer-based, offline software
C)
Using cloud-based accountancy software
4.
How often is business data revised?
A)
Data is updated annually
B)
Data is updated quarterly
C)
Data is updated monthly or more often
5.
How is banking updated for your business?
A)
Banking is updated manually
B)
Banking is updated by imports
C)
Banking is updated via a live feed
6.
How are bank payments made?
A)
Bank payments are manual
B)
Bank payments are made using bulk imports
C)
Bank payments are made directly via accounting software
7.
How are bank receipts reconciled?
A)
Receipts are chased and reconciled manually
B)
Receipts are chased and reconciled automatically
C)
A third-party platform is used to chase debts and collect fees
8.
How often are management reports produced?
A)
No reports are provided
B)
Reports are provided but often too late to be valuable
C)
Reports are automated with real-time information
Score 8-12:
Curious Exploration
Your financial technology phase is Curious Exploration
% of respondent businesses are in this phase too.
Switching accountancy systems may seem like an upheaval, but can be much more straightforward than most businesses imagine. From talking to our clients, they have found moving from paper invoicing and desktop-based accounting software to the cloud and apps quickly makes the transition process a worthwhile investment of time. Digital accounting solutions bring in streamlined processes, up-to-date business data and greater confidence in the accuracy of information when making financial decisions.
Grenfell James works with your team to fully assess the needs of your business and minimise the impact of any transitions for solutions we recommend.
Score 13-19:
Measured Discovery
Your financial technology phase is Measured Discovery
% of respondent businesses are in this phase too.
Once cloud accountancy software is in place, there’s still plenty of scope to improve your accountancy processes and make sure your business is maximising the benefits of adopting a digital accounting solution. Grenfell James assesses each business to understand how any implemented solutions are being used, identify areas for improvement and the needs of the business overall to support your business goals and achieve success.
Our team of experts can discuss a range of time-saving automation and get different apps and cloud-based solutions talking to create and manage a digital accountancy eco-system to help your business grow.
Score 20-24:
Bold Innovation
Your financial technology phase is Bold Innovation
% of respondent businesses are in this phase too.
You know the benefits of accounting technology and the impact it can have on your business goals. If you want to take it a step further, our team can conduct a systematic review of your processes, apps and business goals to ensure your digital accountancy ecosystem is keeping pace with the changing needs of a growing business.