Speyside Bonded Warehousing – Secure Cask Storage

01 - WHAT WE DO?

Speyside Bonded Warehousing Ltd

Speyside Bonded Warehousing Limited (SBWL) represents the realisation of a visionary initiative by its directors, who are deeply entrenched in the realm of fortified wines and spirits.

They harbour a specific passion for rare whisky casks and new-fill Scotch whisky, which will be meticulously aged within the confines of our secure facility under professional management.

In a strategic joint venture, spirits expert and whisky wholesaler Darren Hughes. will assume oversight of the sister company, Whisky Investment UK (WIUK). The latter manages a diverse portfolio of stock, currently valued at over £1 million, and incorporates a substantial portion of our clients’ £5 million cask stock portfolio. The joint venture will focus exclusively on the incorporation of exceedingly rare casks, adding a unique dimension to our collective endeavours.

Warehousing

Specialist Warehousing

Our warehouse is designated to house older and more delicate casks that require additional care. These casks will undergo regular turning and meticulous inspections to address any potential leaks or signs of cask fatigue.

Specialised Insurers

All stocked inventory is comprehensively insured through specialised insurers, and our experienced staff is dedicated to its meticulous care.

Successful Sister Company

Whisky Investment UK (WIUK). Our sister company manages a diverse portfolio of stock, currently valued at over £5 million.

02 - Warehousing

Warehousing

A whisky HMRC bonded warehouse in Scotland stands as a cornerstone of the country’s esteemed whisky industry, renowned worldwide for its quality and heritage. Situated amidst the scenic landscapes of Scotland, these bonded warehouses serve as guardians of the nation’s liquid gold, housing vast quantities of whisky barrels maturing to perfection.

Nestled in regions like Speyside, Islay, the Highlands, and beyond, these warehouses dot the Scottish countryside, each exuding its own unique charm and character. From traditional stone buildings to modern facilities, these warehouses embody the rich history and tradition of Scotch whisky production.

But as whisky cask ownership has grown in popularity over the past few years, one problem many non-revenue traders have come up against is the unwillingness of the warehouse to open a private account for just a handful of casks and would prefer to only work with traders that hold a WOWGR licence.

Speyside Bonded Warehousing Ltd was created to help bridge this gap by working with a carefully select number of HMRC bonded warehouse across both Speyside and other regions and assisting both non-traders and traders to be able to securely hold their casks for maturing with the peace of mind that the cask(s) are in their own private accounts, without the need to have a WOWGR licence.

How do I know if I am a revenue trader?

You are a revenue trader if you are involved in any way with goods or services liable to Excise Duty, whether the duty has been paid.

The following list gives the most common types of revenue trader, but it is not exhaustive:

Producers of wine, made-wine, cider, perry.
Manufacturers of tobacco products
Hydrocarbon oil refiners, bonded users and distributors and oil launderers
Hydrocarbon oil relief and reimbursement claimants
Distillers, methylators, compounders, duty free spirits users
Brewers
Excise warehouse keepers.
Alcohol ingredients relief and drawback claimants
Importers and exporters of revenue goods
Registered excise dealers and shippers (REDS)
Bookmakers, pools promoters, bingo promoters, casino operators, amusement machine operators
Wholesalers, retailers, and distributors of excisable
Anyone producing, handling, processing, packaging, transporting, or dealing in goods.
Chargeable with Excise Duty
Other service industries financing or facilitating revenue traders’ activities such as
Guarantors, sureties, agents, insurers, brokers, financiers and financial institutions, analysts,
Makers of scientific instruments, gaugers, computer consultants

Storage Costs

03 - Storage

Storage Costs

Whisky casks must be held in HMRC (His Majesty’s Revenue and Customs) bonded warehouses due to several regulatory and taxation reasons.

Depending on the size of the cask and its value, the cost of storage and insuring a cask is between £1 to £2 per week.

Insurance coverage for whisky casks typically includes protection against various risks and perils that could result in financial loss or damage to the casks. Here are some common aspects covered by insurance for whisky casks:

Physical Damage

Insurance typically covers physical damage to the whisky casks caused by events such as fire, explosion, flood, or accidental impacts during transportation or storage. This coverage ensures that the casks are repaired or replaced if they are damaged or destroyed.

Theft and Burglary

Insurance provides coverage for theft or burglary of whisky casks, whether they are stored in warehouses, distilleries, or during transit. This includes theft of entire casks or parts of the casks, such as staves or hoops.

Transit Risks

Insurance may cover risks associated with transporting whisky casks from one location to another, whether by road, rail, sea, or air. This includes coverage for damage or loss during loading, unloading, and transit, as well as protection against accidents or theft while in transit.

Storage Risks

Insurance typically covers risks associated with storing whisky casks in warehouses, including damage from leaks, temperature fluctuations, pests, or structural failures. Coverage may also extend to risks such as vandalism or malicious damage to the casks while in storage.

HMRC bonded warehouses play a crucial role in the whisky industry by providing a secure and regulated environment for storing casks during the maturation process. From taxation control to quality assurance and export facilitation, the use of bonded warehouses ensures compliance with regulations while safeguarding the integrity and value of whisky as it matures to perfection.

Taxation Control

The primary reason for storing whisky casks in bonded warehouses is taxation control. Whisky production and maturation are subject to various taxes, including excise duty. By storing casks in bonded warehouses, distillers can delay paying these taxes until the whisky is ready for bottling and sale. Until then, the whisky remains under bond, meaning the taxes are deferred until the product leaves the warehouse for consumption.

Regulatory Compliance

Distillers and producers must comply with strict regulations governing the production, storage, and sale of alcoholic beverages. Bonded warehouses are regulated and supervised by HMRC, ensuring that the whisky remains under secure conditions and meets all legal requirements.

Quality Control

Whisky matures over time, gaining character and flavour from the cask it’s stored in. Bonded warehouses provide controlled environments conducive to proper maturation, such as stable temperatures and humidity levels. By storing whisky in bonded warehouses, distillers can maintain quality and consistency in their products, which is essential for consumer satisfaction and brand reputation.

Security

HMRC bonded warehouses are highly secure facilities equipped with surveillance systems, access controls, and other security measures. This ensures the safety and integrity of the whisky casks stored within, protecting them from theft, tampering, or damage.

Traceability: Bonded warehouses maintain detailed records of all whisky casks stored within their premises, including information about their origin, age, and ownership. This level of traceability is crucial for accountability and regulatory compliance, as it allows authorities to track the movement of whisky throughout the production and distribution process.

Export Requirements: For whisky destined for export, storing casks in bonded warehouses can facilitate the export process by streamlining documentation and customs procedures. Bonded warehouses serve as authorized locations for storing goods intended for export, ensuring compliance with international trade regulations.

03 - Creative Approach

As EX Logistik, we focus on finding more efficient, fast and cost-effective solutions by re-evaluating existing methods. We optimize logistics processes with creative ideas.

Innovation and Creativity

Approaches challenges from a new perspective, seeking creative solutions to complex problems. It encourages employees to think critically and discover new ideas.

Our Solutions