Wines in bond
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Wines in bond, or simply 'in bond', are purchased wines held in a bonded warehouse, which have not passed through customs, with no Duty and VAT paid on them.[1]
Often, wine brokers and merchants will buy wine in bond because it saves having to pay VAT and Duty on the wines if they are most likely going to be resold.[2] Under UK law, they must be stored in a bonded warehouse approved by HM Revenue and Customs.
See also
References
- ^ "Wine In Bond | Wine Bonds Guide | The London Wine Cellar". The London Wine Cellar. Retrieved 2015-12-17.
- ^ "A corking investment or a risky punt? How to invest in wine and avoid the pitfalls of plonk". This is Money. Retrieved 2015-12-17.
External links
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