What is In Bond?
'In Bond' is when wine is stored provisionally without payment of duty or VAT. Bonded warehouses are licensed by H.M. Customs & Excise to store wines on which duty and VAT has not been paid. To purchase in bond you need to have a private account with a bond which may incur a receiving charge when wines arrive. Storage is then charged at a rate per case per year. VAT (17.5%), duty ( £18 per 12) and a release charge are levied when wines are 'released'. Bonds may offer a range of other related services such as delivery, repackaging and supply of export documentation. You should allow up to 10 working days for in bond transfers to be completed. We recommend the following: www.octavianvaults.co.uk, www.vinotheque.co.uk, www.seckfordwines.co.uk and www.nexuswine.co.uk.