Bonded Storage Space - 28th November 2011

If you own a business that imports a large quantity of goods you will know that the burden to pay any taxes and import duties in a lump sum can be a crippling expense, one that can greatly affect the businesses cash flow.

In a bid to benefit from economies of scale many businesses import large quantities of goods, whilst this does mean they may get better prices or terms from their suppliers, it can also mean large quantities of cash locked up and unavailable to spend. It can also mean potentially large bills for duties and taxes payable immediately for the whole shipment. One way businesses get around this cash flow issue is with the use of bonded storage space.

Bonded storage space is space in a building or other secured area where dutiable goods can be stored, manipulated, or undergo manufacturing operations without payment of duty. While the goods are stored in the warehouse ("in bond") the owner may be allowed to subject them to various processes necessary to prepare them for on sale, the relevant taxes and duties are only paid when the products are released from the warehouse, and are paid at the rate applicable at the time of completion.

Any business that is looking to enjoy the benefits of bonded storage would be wise to contact a specialist company such as Web Warehouse. They are storage experts, and will be able to help find the perfect solution to your businesses storage or warehousing needs. Whatever your individual requirements Web Warehouse will be able to provide a suitable storage solution.

For more information on how Web Warehouse can help with bonded storage space for your business, or for queries about any other type of storage needs call the team on 0845 603 883.