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Wines In Bond
Wines in bond are purchased wines held in a bonded warehouse, which have not passed through customs, with no Duty and VAT paid on them. Wine brokers and merchants will often buy wine in bond because it saves having to pay VAT and Duty on the wines if they are most likely going to be resold. Under UK law, they must be stored in a bonded warehouse approved by HM Revenue and Customs. See also * Bonded warehouse * Investment wine Investment wine, like gold bullion, rare coins, fine art, and tulip bulbs, is seen by some as an alternative investment other than the more traditional investment holdings of stocks, bonds, cash, or real estate. While most wine is purchased w ... References External linksThe London Wine Cellar - Wine Bonds Guide Customs duties {{Wine-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bonded Warehouse
A bonded warehouse, or bond, is a building or other secured area in which imported but dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. They may then be again exported without payment of duty. It may be managed by the state or by private enterprise. In the latter case a customs bond must be posted with the government. This system is widely used in developed countries throughout the world. Overview Upon entry of goods into the warehouse, the importer and warehouse proprietor incur liability under a bond. This liability is generally cancelled when the goods are: *exported; or deemed exported; *withdrawn for supplies to a vessel or aircraft in international traffic; *destroyed under Customs supervision; or *withdrawn for consumption domestically after payment of duty. While the goods are in the bonded warehouse, they may, under supervision by the customs authority, be manipulated by cleaning, sorting, repacking, or otherwis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The UK includes the island of Great Britain, the north-eastern part of the island of Ireland, and most of List of islands of the United Kingdom, the smaller islands within the British Isles, covering . Northern Ireland shares Republic of Ireland–United Kingdom border, a land border with the Republic of Ireland; otherwise, the UK is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. It maintains sovereignty over the British Overseas Territories, which are located across various oceans and seas globally. The UK had an estimated population of over 68.2 million people in 2023. The capital and largest city of both England and the UK is London. The cities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Revenue And Customs
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC, and formerly Her Majesty's Revenue and Customs) is a department of the UK government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers. HMRC was formed by the merger of the Inland Revenue and HM Customs and Excise, which took effect on 18 April 2005. The department's logo is the Tudor Crown enclosed within a circle. Departmental responsibilities The department is responsible for the administration and collection of direct taxes including Income Tax, Corporation Tax, Capital Gains Tax (CGT) and Inheritance Tax (IHT), indirect taxes including Value Added Tax (VAT), excise duties and Stamp Duty Land Tax (SDLT), and environmental taxes such as Air Passenger Duty and the Climate Change Levy. Other aspects of the departmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bonded Warehouse
A bonded warehouse, or bond, is a building or other secured area in which imported but dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. They may then be again exported without payment of duty. It may be managed by the state or by private enterprise. In the latter case a customs bond must be posted with the government. This system is widely used in developed countries throughout the world. Overview Upon entry of goods into the warehouse, the importer and warehouse proprietor incur liability under a bond. This liability is generally cancelled when the goods are: *exported; or deemed exported; *withdrawn for supplies to a vessel or aircraft in international traffic; *destroyed under Customs supervision; or *withdrawn for consumption domestically after payment of duty. While the goods are in the bonded warehouse, they may, under supervision by the customs authority, be manipulated by cleaning, sorting, repacking, or otherwis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Wine
Investment wine, like gold bullion, rare coins, fine art, and tulip bulbs, is seen by some as an alternative investment other than the more traditional investment holdings of stocks, bonds, cash, or real estate. While most wine is purchased with the intent of consuming it, some wines are purchased with the intention to resell them at a higher price in the future. A wine's value often goes up as time passes and consumption increases as the market becomes tighter and access to ''good wine'' is more elusive. Background Wine investment is usually conducted through one of two main methods. The first involves purchasing and reselling individual bottles or cases of particular wines (wine for investment tends to be sold in sets of 3, 6, 9, 12, or 13). The other option is purchasing shares in an investment wine fund that pools the investors' capital. In the former instance (directly buying specific cases of wine), it is recommended that inexperienced investors work with a broke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
