Buying wines In Bond is a popular and necessary way to secure some of the world’s leading fine wines, especially when they are first released to the market En Primeur.
Wines listed for sale In Bond simply refers to the fact that they have not yet had Duty and VAT paid on them. For this reason, they must be stored in a bonded warehouse that is approved by H.M. Customs & Excise.
When a wine is purchased for immediate delivery and drinking enjoyment in the UK, both Duty and VAT are included within the quoted price. If a wine is purchased In Bond, then Duty and VAT are chargeable once the wines are delivered away from a bonded warehouse, to a destination which is not bonded.
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).
To 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, in future, you will not have to pay Duty and VAT.
Fine wine is almost exclusively traded In Bond, 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 price of the wine, regardless if it has had Duty and VAT paid.
VAT is payable on the original sale price, not the wines current market value. So 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 not man bonded warehouses. This is particularly important if you choose to sell our wine in future.
Buying Wines In Bond
In Bond priced wines can be found on our website by switching the price type from retail (prices include Duty and VAT) to In Bond. Purchasing the wine thereafter follows exactly the same process as if you were purchasing wines in retail price type, including Duty and VAT.
Wine Duty and VAT
Wine Duty is a fixed charge set by Government annually during the budget. The prevailing rate of Duty remains the same, regardless of the cost of the wine. Current rates are:
- £2.16 per 75cl bottle of still wine.
- £2.77 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 ServiceFind out more about our wine storage options, and our wine broking and listing service.