Pistonheads whisky cask
Discussion
Mighty Flex said:
Where are we with the previous years? Is it time for a storage fee soon?
WhiskyBroker bill by the calendar year, so I paid the 2023 warehouse fee in Jan 2024. Once the 2024 fee has been paid (Jan 2025) I'll be in touch for the odd few pounds it will cost everyone (and to maintain / update contact details etc). No point asking you all for £2 or so at the moment.I’ll take the last spot if still available…
Edit: fixed the table
Edit: fixed the table
| PH name |
| S6PNJ |
| S6PNJ |
| podie |
| david a |
| ClubSmed |
| FunkyGibbon |
| Mr E |
| Coneyhurst Blue |
| Mighty Flex |
| Slowcoach III |
| Total of 10 spaces |
Edited by SlowcoachIII on Wednesday 3rd July 14:55
Edited by SlowcoachIII on Wednesday 3rd July 14:56
aaaaaaaand we are full!!
Thank you ladies and gents, boys and girls, have's and have nots, them and they, etc etc.
I'll shortly be sending out an email with details etc. If I've not messaged you in the past, please make it easier for me and send me a PM so I can capture your email address.
Cheers!
And, no it isn't ready yet!
Thank you ladies and gents, boys and girls, have's and have nots, them and they, etc etc.
I'll shortly be sending out an email with details etc. If I've not messaged you in the past, please make it easier for me and send me a PM so I can capture your email address.
Cheers!
And, no it isn't ready yet!
S6PNJ said:
I've done a very rough cost calc which assumes the full RLA and the current ABV and no loss of volume. With today's prices (duty, bottles, warehouse (no insurance cost yet) and level of VAT, it comes out at £20 per bottle assuming my maths are correct! Now over a 10 year period, RLA will go down, ABV will go down, volume will go down but storage, insurance, bottles will all go up and who knows what will happen to VAT.......
It seems my maths was a little out - Reading back a few pages (well looking for other info actually) I found this from 2020 when I asked a question of Whisky Broker:S6PNJ said:
When I am being charged excise duty, why do I need to pay VAT on the litres of alcohol when I am already paying VAT on the excise duty?
Whisky Broker said:
Because the whisky increases in value over time, we place a monetary value on the whisky. This is currently £2.50 per year aged per litre of pure alcohol. This is not a value set by HMRC – who offer little guidance on this subject – but allows us to easily calculate a standard value of a product. When you purchased the cask/bottles under bond, this was exempt from any VAT and so this must be paid upon leaving the warehouse (being duty paid for UK consumption or upon entry into another country where they will charge taxes and duties applicable to that country).
So if you bottled your whisky and got 200 x 70cl @ 55.0%, this would be a total of 77 litres of pure alcohol (200 x 0.7 x 0.55 = 77). Excise duty is currently £28.74+VAT per pure litre and so would be £2212.98+VAT = £2655.57. The VAT on the value of the whisky has never been paid and so this is payable at the time of taking out of bond. If you were buying a bottle from a supermarket, you’d pay 20% VAT on top of the overall cost (liquid, duty, bottle, profit margin etc) and for -for example, a 12yo Tullibardine we would value this at £2.50 x 12 (age) x L/alc (77) /0.2 = £462.00 so the total VAT payable on the alcohol would be £462.00 but this increases with the cask age.
So if you bottled your whisky and got 200 x 70cl @ 55.0%, this would be a total of 77 litres of pure alcohol (200 x 0.7 x 0.55 = 77). Excise duty is currently £28.74+VAT per pure litre and so would be £2212.98+VAT = £2655.57. The VAT on the value of the whisky has never been paid and so this is payable at the time of taking out of bond. If you were buying a bottle from a supermarket, you’d pay 20% VAT on top of the overall cost (liquid, duty, bottle, profit margin etc) and for -for example, a 12yo Tullibardine we would value this at £2.50 x 12 (age) x L/alc (77) /0.2 = £462.00 so the total VAT payable on the alcohol would be £462.00 but this increases with the cask age.
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