WHAT IS A BONDED WAREHOUSE?

What is a bonded warehouse and why do you need to know when you are buying a cask of whisky?

What is a Bonded Warehouse?

Video Guide 10 of 10

As HMRC is owed billions of pounds worth of tax on the millions of barrels of whisky currently maturing in Scotland, they like to keep close tabs on where they all are. A cask must therefore be stored in a bonded warehouse with the proper licences in order for it to be exempt from duty. When you come to buy or sell that cask you must know where that warehouse is and what access they allow.

When you are looking a buying a cask you need to ask where it will be stored, and if you are able to visit and draw samples and bottles. If the answer is yes (hopefully, but not always) you should also check to see if there are any limits to how many bottles or samples you can draw.

At Mark Littler LTD we believe owning a cask should be an experience, and we have an exclusive relationship with our bonded warehouse to allow you to go and visit your cask by appointment. You can take pictures, draw bottles and samples (admin fees apply, and you have to pay duty on any bottles drawn) so that you can enjoy your cask as it matures. We also supply you with an exclusive cask passport, photos of your cask and the option to personalise your cask head and create a replica for your home or office.

When it comes to selling your cask you also need to know where that bonded warehouse is as the potential buyer will want to know – either to move it to their own warehouse or just simply for the proper licenses to be drawn up.

If you want to know more about buying a cask of whisky, please explore the other videos in our guide. Alternatively sign up to receive our free, 50-page magazine on buying a cask of whisky. The guide covers everything you need to know about investing in whisky, and also about your options when it comes time to sell your cask.

What is a bonded warehouse and why do you need to know when you are buying a cask of whisky?

What is a Bonded Warehouse?

Video Guide 10 of 10

As HMRC is owed billions of pounds worth of tax on the millions of barrels of whisky currently maturing in Scotland, they like to keep close tabs on where they all are. A cask must therefore be stored in a bonded warehouse with the proper licences in order for it to be exempt from duty. When you come to buy or sell that cask you must know where that warehouse is and what access they allow.

When you are looking a buying a cask you need to ask where it will be stored, and if you are able to visit and draw samples and bottles. If the answer is yes (hopefully, but not always) you should also check to see if there are any limits to how many bottles or samples you can draw.

At Mark Littler LTD we believe owning a cask should be an experience, and we have an exclusive relationship with our bonded warehouse to allow you to go and visit your cask by appointment. You can take pictures, draw bottles and samples (admin fees apply, and you have to pay duty on any bottles drawn) so that you can enjoy your cask as it matures. We also supply you with an exclusive cask passport, photos of your cask and the option to personalise your cask head and create a replica for your home or office.

When it comes to selling your cask you also need to know where that bonded warehouse is as the potential buyer will want to know – either to move it to their own warehouse or just simply for the proper licenses to be drawn up.

If you want to know more about buying a cask of whisky, please explore the other videos in our guide. Alternatively sign up to receive our free, 30-page magazine on buying a cask of whisky. The guide covers everything you need to know about investing in whisky, and also about your options when it comes time to sell your cask.