Wines in bond

Wine + dinner = Winner! Yes, this is what most people believe in!

Wine lovers all across the globe are very passionate about their wines. They likely have a curated collection of rare wines from Saint Clair that they like to brag about. Being a wine lover, you may also love collecting the oldest wines. Plus, you are likely to be very attentive when purchasing wine. However, when buying wines, you will have to bear Duty and VAT, which can increase the overall price of the wine. That is why you can buy wines ‘in bond'. Do you know what that means? No? Worry not!

Below, we have discussed 'what in bond' means when buying wine from Bolney wine estate

What does 'in bond' mean?

Before the winemakers deliver the wines in the UK, they are stored/bonded in warehouses. At this point, they attract no Duty and VAT. However, you must store the wine in a bonded warehouse approved by the Customs and Excise Department.

Several Fine Wines are available for purchase under bond as they need more time to mature. Therefore, you can choose to store them in a bonded warehouse under your personal account and pay the tax when you want to get the wine delivered.

What do you pay for?

The 'in bond' price of the wines from Simpsons Wine Estate is exclusive of Duty and VAT. You have to bear these costs only when the wines leave the bonded warehouse and are shipped to the UK. You can also set up your own storage for wines until you want to pay for them.

Once you get the wines in the UK, VAT and Duty can be deferred if you store them 'in bond' in a bonded warehouse. If you plan to re-sell your wines, you should keep them under bond only. Your vendor may add a small charge for shipping and delivering your wines to you 'in bond' to your own bonded account. It will cover all the administrative and transport fees.

What are the advantages of buying wine in bond?

Some advantages of buying wine in bond include:

  • When the Château Batailley wine is stored 'in transit', you do not have to pay VAT and UK excise duty.
  • You can pass on the wines from one vendor to another within a bonded warehouse without paying any VAT or duty.
  • Additionally, if the winemaker has a movement guarantee, they can move it from bond to bond.
  • If you want to store the wine in bond and get it delivered later, you will have to pay the VAT on the original selling price, not the current market value.