Futures and Bond
Folks,
I have finally exceeded the (limited) space I have in my racks. I've got
about 100 bottles on rack in the dining room, I keep the central heating off
unless we have a dinner party and the few £100ish wines (Grange, Silver
Oak). I'm wanting to achieve two things, firstly temperature controlled
storage.
So I'm looking at doing two things I wouldn't mind some advice on...
1) Futures
I'm wanting to buy some futures, I'm based in London - what's the best way
to go about this? Very nebulous, I know!
2) Bond
There was a question about wine under bond a few weeks ago, but I can't seem
to find it on google. My understanding of this is, say I buy a case of GAM
under bond. I don't pay any duty tax on the wine and it is kept in some
cellar somewhere. The question I have is, when I want to get the wine, how
does the tax work? Do I pay the duty based on the original price of the wine
or will the new value of the wine be estimated for taxation? Is bond
worthwhile or would I be better off buying it now and sending it off to
profressional cellaring services?
Cheers
MB
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