Buying In Bond
What does 'In Bond' Mean?
Buying 'in bond' means that you will be invoiced for your wine net of duty and VAT. Wines can be cellared in Lay & Wheeler's customer reserves cellar at Vinothèque in Burton-upon-Trent, where they will be stored in optimum conditions until you wish to withdraw them. Your wines will be cared for under the Portfolio Service.
Why buy in bond?
Buying in bond allows you to defer the payment of duty and VAT until such time as you wish to withdraw the wines. We also recommend that, should you wish to broker these wines at a later date, they be cellared in bond.
How much will I pay?
Purchasing in bond is to purchase excluding duty and VAT. Each year, you will receive a statement of your wine portolio or you can view the status of your reserves in real-time on our website.
When you decide to take delivery of the wines you are required to pay the prevailing rate of UK duty and VAT. As an illustration current rates* for selected styles and formats are:
| 75cl Bottle still wine |
£1.33 |
| 75cl Bottle sparkling wine |
£1.71 |
| 75cl Bottle port |
£1.78 |
UK VAT is 17.5% and is levied on both the purchase price and the appropriate duty.
Wine cellared with Lay & Wheeler are subject to modest cellarage and portfolio charges.
How to order In Bond?
You may add in bond wines to your shopping basket just like other wines; they will automatically be placed into a reserves account for you. In bond purchases must be for a full unsplit case. This is normally 12 bottles but varies by wine and bottle size.
Terms & Conditions
Please see Lay & Wheeler's standard terms & conditions of cellarage.
*Correct as at 18/06/2007