Over the pond here in Canada test equipment must be sent once per year for cal and testing by labs that have the NIST designation. www.nist.gov/index.html.
I do not like the idea of a reference unit being held in a closet. My experience has been that cals can and will drift even if the unit is not being used.
It depends on the piece of equipment. A hemodialysis machine for example would definately drift.

Does NIST exist in the UK? If not is there a similar type organization?