Bonded Warehousing UK

Who can benefit from taking the bonded warehouse initiative and what can Dolphin Movers solution do to support organisations keen to put cost to the back of the supply chain?

Q: What types of organisations could benefit from using bonded warehouses?

A: Most types of business can benefit from using a bonded warehouse-from varied users such as pharmaceuticals, international staff relocating, drinks industry, retailers, automotive and other 3rd party logistics companies.

Q: What are the tax/customs & excise incentives, deferred payment, etc?

A: Most companies do not sell their goods within four weeks of receiving stock into their warehouse. This means that they will have paid the Duty and VAT up front on all of their stock, which is now classed as "Duty Paid". This is the money that they could have legally avoided paying for a considerably longer period of time.

Through bonded warehousing all of the stock in our warehouse can be classed as "Duty suspended", thus avoiding this advance Duty Payment on goods which may not have been sold yet and will reside in stock for months.

For example:

·         300 cases of spirits at 40% by volume

·         The Excise Duty at £25.52 per litre of alcohol would be £27,560

·         The VAT would be approximately £8600

·         Total duty cost of £36,000

Therefore, 5 monthly orders of this quantity results in over £180,000 of duties per month.

Two month average stock turnaround would save you over £360,000 tied up in stock holding.

Q: How does Dolphin Movers help automate the process?

A: Dolphin Movers simplifies and automates the day to day complexities of handling bonded goods, ensuring efficient compliance with HM Revenue & Customs legislation, with a full suite of automatic daily and monthly reports relevant to a bonded operation. Stock accounts (rotations) are held for all bonded stock and are managed according to the strict regulations of HMRC. Rotation history is fully maintained, reflecting all movement of stock.

Dolphin Movers maintains master files for all significant Customs & Excise detail. Internal validation rules ensure that sensitive data is checked before use. A master file audit log records all changes to this data. Every change is time stamped and identifies the operator. Our audit reporting facility gives users a high level of flexibility in analysing this data and movements can be traced easily from any source.