By Alphie Valentine

Cask whisky ownership is an unregulated market, and I won’t pretend otherwise. It’s a part of the industry that has, frankly, attracted some bad actors over the years – and when buyers get hurt, it damages everyone, including the firms doing it properly.

So when Trading Standards set out guidance on what responsible cask whisky businesses should be doing to protect buyers, my reaction wasn’t defensiveness. It was: good – because almost every point on that list is something we already do, and in a few cases we go further. Rather than file it away, I wanted to go through it openly, point by point, so anyone considering us can see exactly where we stand.

Here’s each thing a careful buyer is told to check – and how we handle it.

Do you genuinely own the cask you’ve paid for?

This is the single most important question in this whole market, and the one the guidance rightly calls the priority. In too many cases, people think they’ve bought a cask when in reality it’s only been “assigned” to them – which means if the company they bought from goes under, their cask can end up in the hands of an insolvency practitioner rather than theirs.

That is not how we operate. Our clients’ casks are held in their own independent account at the bonded warehouse, in their name – not on the Hackstons balance sheet and not inside a Hackstons umbrella account. In plain terms: if Hackstons ever ceased trading, your stock is already held independently and remains yours. A liquidator would have no claim over it, because it’s not ours, it’s irrefutably yours. We provide a warehouse stamped Delivery Order confirming that ownership – the document that actually proves title, not just a certificate on our letterhead.

Can you check, independently, that the cask actually exists?

Yes – and you should. The guidance tells buyers to speak directly to the premises where the cask is stored, and to treat it as a red flag if a company won’t give those details. I completely agree.

Every cask we sell is held in an HMRC-bonded warehouse, and you can verify your cask directly with that warehouse yourself, without going through us. We’d encourage it.

Here’s where we made a deliberate choice that I think sets us apart: we chose not to run our own warehouse. We found an incredible warehouse in Edinburgh, began the application with HMRC , and decided against it – because if we both sold you the cask and held it ourselves, we’d be marking our own homework. By using independent, HMRC-approved warehouses, there’s always a third party you can check with. We didn’t want to be judge, jury and executioner.

We also go one step beyond the guidance on fraud. We don’t release specific cask identification numbers until a purchase is complete, at which point you receive your Delivery Order. We introduced that deliberately, because we’d seen unscrupulous operators obtain cask details they didn’t own and use them to scam people. It’s a small thing, but it protects buyers.

Is cask whisky ownership regulated?

No – and we tell every client that, clearly and up front. Cask whisky is not regulated by the Financial Conduct Authority, which means buyers are not covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service. You’ll find that stated plainly in our materials, not buried. It’s exactly the kind of thing the guidance says should never be hidden, and we don’t.

What about returns – can you promise what I’ll make?

No, and anyone who does is telling you something they can’t know. The guidance specifically warns against firms suggesting or guaranteeing returns, and it’s right to. We never guarantee a return. Cask values can go down as well as up, resale depends on the market, and this is a long-term commitment – we ask clients to think in terms of a minimum ten-year horizon, not a quick flip. If anyone in this industry promises you a fixed percentage, walk away.

How do I know I’m paying a fair price?

The guidance is honest that, without doing your homework, it’s hard to know you’re paying a fair price for any cask, from anyone – because stock often passes through several hands, each taking a margin. That’s true, and I won’t pretend we’re the cheapest. We aren’t.

What we will do is be straight about it. We’re transparent about the fact that we operate on a margin, and clients are free to shop around and compare. What you’re paying for with us is a genuine service – curation, documentation, independent storage, ongoing management and a plan to build large scale future exit options – rather than the lowest possible headline price. If price is the only thing that matters to you, there may be cheaper options; if trust, service and doing it properly matter, that’s where we earn our keep.

Will I get a proper receipt and contract?

Yes. The guidance tells buyers to insist on a full receipt and a copy of the contract of sale, and to consider independent legal advice before parting with significant money. We agree entirely. Our terms are thorough, and your documentation sets out the full description of the whisky – distillery, year, cask type, unique cask number, volume – along with the storage and ongoing cost details. We’d never ask anyone to pay against a one-line invoice, and if a client wants their own solicitor to review before committing, we welcome it.

Can I pay by card for the extra protection?

Yes. Trading Standards guidance highlights that paying at least £101 by credit card can provide statutory protection under Section 75 of the Consumer Credit Act.

While this wasn’t something we had previously considered in this context, we took the guidance seriously, sought advice from our legal team and acted immediately to ensure clients have the option to benefit from this additional protection.

We don’t claim to know everything, but we do believe in continually reviewing our practices, listening to expert advice and taking meaningful action to protect our clients. That’s why we now accept credit card payments.

What about those news logos and awards you see everywhere?

The guidance warns – rightly – that some firms display news-organisation logos and award references to borrow credibility they haven’t earned, and that in some cases those logos are used unlawfully. We only ever reference coverage that is real and that we can point you to, and any award we mention is one we’ve genuinely won. If we say it, you can check it.

Where this leaves us

I’d rather have this conversation openly than hope nobody asks. No business is perfect, and like anyone we keep learning and improving how we do things. But on the fundamentals the guidance sets out – real ownership in your name, independent verification, honest disclosure, no false promises – we’re confident we’re already doing the right things, and in a few places doing more than we’re asked to.

If you’re considering a cask with us, or with anyone, use that checklist. Ask the hard questions. The good operators will welcome them. We certainly do.

Frequently asked questions