At Cult Wines our core values are honesty and transparency and we ask that all our established and potential clients take appropriate tax advice before considering any new form of investment and to see how to make the most of fine wine as an asset.
GST and Import Duties
Cult Wines recommend that all fine wine investments are held in bond at one of the UKs leading bonded warehouses. Whilst portfolios are held in bond they are free of any excise duty including import taxation and GST.
Clients are welcome to take delivery of all or part of their fine wine investments but import taxes and GST are the sole responsibility of the client.
Capital Gains Tax
There are potential capital gains tax advantages when investing in Fine Wine. The rules depend on the size of the investment and how the wine is categorised for tax purposes. As with all taxation every clients tax situation is different so please consult a tax adviser to discuss your fine wine investment.