What are bonded wines?

What does it mean when wines are in bond?


Wines 'in bond' have not yet had the Duty and VAT paid on them. They must be stored in a bonded warehouse approved by HM Customs & Excise.
 

What are the advantages of buying 'in Bond'?
• The Duty and VAT is deferred. Should you choose to sell the wine on (in bond) at a later date, you will never pay Duty and VAT.
• If you choose to have the wine delivered at a later date, the VAT and Duty is payable on the original sale price of the wine, NOT its current market value.
• Wines stored in bond are much more attractive to prospective buyers and brokers. Merchants or brokers will usually give you the same price whether or not the wine is duty and VAT paid. Therefore if you sell your wine in bond, you will save approximately 17.5%. 20% from Jan 2011
• Traceability and Provenance - wines stored in bond are much easier to trace (there are a limited number of bonded warehouses). Therefore, there is a better chance that wines have been stored correctly.

What wines can I buy in bond?


Some Vintage Seekers wine may be purchased in bond - keep an eye out for the ‘In bond’ option next to the product name.
In bond wine excludes Duty and VAT and is not available for delivery or consumption within the EU (Duty and VAT must be paid before delivery/or consumption can take place). If/when you choose to have the wines delivered (anywhere in the EU) these taxes become payable (at UK rates).
Vintage Seekers has an in bond storage facility to store wine until you wish to take it out of bond. Alternatively if you have your own bonded facility, Vintage Seekers can assist you with this arrangement.

Storage costs?


Storage cost will vary according to geographic location. Please contact us to enquire.

What exactly do I pay?


The price of the wine is exclusive of Duty and VAT. These are deferred until delivery within the EU. Current Rates for UK Duty and VAT are as follows
UK DUTY
£1.69 per 75cl bottle of still wine, £2.16 per 75cl bottle of sparkling wine.
£2.24 per 75cl of port/sherry
 

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