Customs Bonded Warehouse in the UK

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Bonded warehouse rates
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Customs Bonded Warehousing

What is a Customs Bonded Warehouse?

A customs bonded warehouse is a secure space which allows you to store goods imported from outside of the UK before they reach their final destination. Importing and exporting from foreign trade zones can become costly, so a bonded warehousing is an advantageous way to manage the expenses as import duty. In which, you can defer VAT charges until the goods are sold (i.e. withdrawn for consumption) or removed from the bonded warehouse.

HMRC regulates UK Customs Bonded Warehouses with strict import and export rules and regulations which are regularly checked to ensure they are conforming with foreign trade zones. A bonded warehouse storage facility where imported merchandise can be processed and sold must be approved by HMRC (import and export) to allow for customs entry.

Why are customs bonded warehouses used?

Businesses may use customs bonded specific warehouses to store their imported goods if they’re unsure of their final destination or as temporary storage if they plan to re-export goods outside of the UK. If you’re waiting for full UK customs clearance and duty payment, you can use a bonded warehouse as a warehouse facility. If the bonded storage offers an order fulfilment service with an option to pick and pack, you can arrange to sell merchandise directly for home consumption.

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Customs bonded warehouse located by Port of Tyne

Customs bonded warehouse types

There are two types of customs bonded warehouse facilities in the UK that correspond to a specific bond for customs entry:

Wet bonded warehouses

mainly hold alcohol & tobacco products (not provided by TSP)

Dry bonded warehouses

which hold all other types of products
Customs bonded warehouse
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What are the benefits of Customs Bonded Warehousing?

As well as ensuring that goods are stored safely and legally at customs territory by an HMRC approved facility, there are also other benefits of using a customs bonded warehouse. These include:

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Boost cash flow

With a customs bonded warehouse, import duty and VAT charges can be deferred until your products are sold or leave the warehouse. This can considerably improve cash flow as no initial payment is required, and duties and taxes can be paid once the goods have been pick and pack for home consumption or left the warehouse.
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Supply on demand

You can use customs bonded specific warehouses to work on importing merchandise well in advance of any seasonal sales peaks, so they are available for customer demand and can be immediately withdrawn for consumption. Meaning you can supply and sell merchandise based on customer demand and at the same time, improve your customer service.
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Save costs

Fluctuating demand may mean that goods sell slowly, therefor with bonded storage the payment of duty can follow the demand and sales pattern. If goods are re-exported for international trade, the customs clearance will not be payable in the UK, but instead, it will be paid in the country of destination, avoiding double payment of duty.
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Get help with customs control

Bonded warehouses can often help with the necessary customs and tax documentation, customs valuation, approving a certificate of origin or provide necessary knowledge on global shipping and customs law. Try to look for a customs bonded facility where imported merchandise can be processed, pick and pack, and shipped for home consumption.

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UK’s Customs Charges, Customs Valuation & Warehouse Fees

Payment of customs duties in the UK

HMRC and Customs logo

Costs for importing goods into the UK will depend on what it is that you’re importing; therefore, costs can vary. More information, including customs law in a special economic zone, can be found on HMRC website.

The following list outlines some of the UK customs duties and taxes, as well as import costs to keep in mind:

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VAT

The standard VAT rate for most goods is 20% and is charged on imports from foreign customs: the EU and the rest of the world.

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Customs Duty

Duty is a charge on imports from outside of the UK, and a customs brokerage assigns to pay duty rates with accordance to the commodity type and specific bond (for example, alcohol and tobacco products will abide by different duty payment rates).

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Warehousing costs

Costs are calculated based on the type of import resources and the amount of warehouse space used.

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Bonded Warehouse + Order Fulfillment

Call us to discuss how both can improve your China cargo import, goods pick-pack and distribution

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Customs Bonded Warehousing FAQ’s
What is a customs bonded warehouse?

Our customs bonded warehouse, approved by HM Revenue & Customs, enables us to store goods imported from outside of the UK whilst deferring the charges of Duty and VAT until the goods have been shipped from our facility, improving your cash flow by up to 25%. 

What is the eligibility for customs bonded warehousing?
To be eligible for customs bonded warehousing, your goods must be imported from foreign customs territory (outside of the European Union (EU)), remain under customs control and be liable to customs duties and/or import VAT.
What type of bonded warehouse does The Storage Place operate?

The Storage Place operates a dry-bonded facility, fully approved and audited by HM Revenue & Customs.

Can I monitor my goods in the warehouse?
Monitor all of your imported goods anytime, anywhere, using our cloud-based warehouse management system while our team of expert staff oversee the movements for you.

The Storage Place is one of the very few independent storage companies in the North East of England with a dry bonded warehouse license, approved by HM Revenue and Customs.

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