When a wine is purchased for immediate delivery and drinking enjoyment in the UK, both Duty and VAT are included within the quoted price. However, when buying wine In Bond, Duty and VAT are chargeable once the wines are delivered away from a wine bonded warehouse to a destination which is not bonded. For this reason, they wine purchased In Bond must be stored in a wine bonded warehouse that is approved by H.M. Customs & Excise.
The majority of wines listed for sale by Armit Wines can be purchased In Bond. However, they must be purchased as a full case (typically 6 or 12 bottles).
The Advantages of Bond WineTo defer payment of Duty and VAT as a means of spreading the cost of your purchase, or should you choose to sell the wine In Bond, you will not have to pay Duty and VAT in the future.
Fine wine is almost exclusively traded as In Bond wine, so if you wish to sell your wine in future, it will be much more attractive to prospective buyers or brokers. In fact, most merchants and brokers will only offer you the In Bond wine price of the bottle, regardless of whether it has had Duty and VAT paid.
VAT is payable on the original sale price, not the wine’s current market value. That means there is no need to make a payment up front if you plan to store your wine for a number of years.
You will benefit from having extra traceable history of your fine wine bought In Bond, its care and its provenance – partly due to the fact that there are bonded warehouses. This is particularly important if you choose to sell our wine In Bond in the future.
Buying Wine In BondIn Bond wine prices can be found on our website by switching the price type from retail (prices include Duty and VAT) to In Bond. Purchasing the bonded wine then follows the same process as purchasing wines in retail price type, including Duty and VAT.
Wine Duty and VAT
Wine Duty is a fixed charge set by Government annually. The prevailing rate of Duty remains the same, regardless of the cost of the wine. Current rates are:
• £2.23 per 75cl bottle of still wine.
• £2.86 per 75cl bottle of sparkling wine.
• £2.89 per 75cl bottle of fortified Port wine.
UK VAT = 20% (applied after duty)
Please note that these rates are subject to change by Government at any time.
Wine Storage and Armit Wines Broking and Listing Service
Find out more about our wine storage options, and our wine broking and listing service. Alternatively, browse for your own wine In Bond from our carefully curated selection today.