Wines in bond

Wines in bond

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.Cite web|last= Kissack |first= Chris, thewinedoctor.com|title=Wine Glossary: I |url= http://www.thewinedoctor.com/glossary/i.shtml ]

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. Under UK law, they must be stored in a bonded warehouse approved by HM Customs & Excise.

References

External links

* [http://www.bbr.com/US/shopping/in-bond.lml Berry Bros & Rudd - About In Bond Wines]
* [http://www.thisismoney.co.uk/help-and-advice/advice-banks/article.html?in_advicepage_id=114&in_article_id=394253&in_page_id=90 This is Money - Investing in Wine]


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