Barrels with untaxed liquor initially hidden inside cellars (6)

I believe the answer is:

vaults

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'cellars' is the definition.
(I've seen this before)

'barrels with untaxed liquor initially hidden' is the wordplay.
'barrels with' becomes 'vats' (I am not sure about the 'with' bit.).
'initially' indicates taking the first letters.
'hidden' is an insertion indicator.
The initial letters of 'untaxed liquor' is 'ul'.
'vats' going around 'ul' is 'VAULTS'.

'inside' is the link.

Can you help me to learn more?

(Other definitions for vaults that I've seen before include "Jumps, perhaps with aid of pole" , "Jumps over burial chambers?" , "Arched ceilings or underground chambers" , "Jumps using pole" , "Cellars" .)

I've seen this clue in The Guardian.

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