The term In Bond means that the wines are currently stored our a bonded warehouse (approved by HM Customs & Excise) and that they have not yet been subject to Duty and VAT payments or delivery/transfer charges coming out of Bond.
You can tell whether a wine is In Bond as it has IB in the right hand side of the wines listed in our wine list.
Purchasing wines In Bond from BCFW
We hold a number of wines In Bond some of which are available to buy on our website. For a full list of In Bond wines on the website. For a complete list of In Bond wines available please contact the office. If you wish to release your wine from In Bond you need to contact the office as Duty and VAT payments, as well as delivery and/or transfers charges will be applied.
Releasing Wines from In Bond
Please allow at least ten days to allow us to arrange for the wines to be released from In Bond and delivery to be made. Payment for the wine and the Duty/VAT/Delivery/Transfers will need to be made before the wine is released from Bond. Please note delivery charges from bond are charged at cost depending upon your postcode and the number of cases being delivered. Contact the office for a quote.
Why buy wines In Bond?
There are a number of advantages to buying wines in Bond, here is our take on the key points –
- The Duty and VAT payments are deferred, should you choose to sell the wine In Bond at a later date these payments will not be incurred. So saving 20% VAT and the current Duty payments.
- Usually wines are bought and remain In Bond for investment purposes. They have been kept in a bonded warehouse and stored in favourable conditions. If you intend to hopefully sell the wine in the future, the wine will be more attractive to prospective purchasers as the wine's storage history is traceable and can be verified by a third party.
- Alternatively if you choose to release the wines from In Bond to drink at home you will pay the Duty and VAT on the original price of the wine not what it is worth at the time of release.
- On a negative note you do have to pay In Bond storage charges.
BCFW In Bond and Duty Paid Storage Costs
We store wines both In Bond and Duty Paid (out of Bond). Please click here for full details of our BCFW Storage Services.
In Bond Payments
The price of wine bought In Bond is exclusive of Duty and VAT. These payments are deferred until delivery into the UK or the EU. Current rates for Duty and VAT are:-
- Still Wine (5.5 to 15% alcohol)
£2.00 per 75cl bottle / £24.00 per standard case or volume (12 x 75cl or 9 litres)
- Sparkling Wine / Champagne (up to 15% alcohol)
£2.56 per 75cl bottle / £30.74 per standard case or volume (12 x 75cl or 9 litres)
- Port/Fortified Wine (15 to 22% alcohol)
£2.66 per 75cl bottle / £32.00 per standard case or volume (12 x 75cl or 9 litres)
Currently stands at 20%. VAT is charged on the current UK Duty rate. Duty and VAT rates are subject to change by the UK government.
*All charges are subject to change by the government at any time, above charges as of Monday 25th March 2013.