Bonded Storage Space - 23rd May 2011

Any company importing a large quantity of goods knows that having to pay the taxes and import duties in one lump sum on arrival can be a crippling expense they could do without.

In many cases businesses import large quantities of goods to benefit from the economies of scale, but this can mean as well as the purchase costs, large amounts of revenue end up being paid in duties and taxes. One way many businesses get around this cashflow issue is with the use of bonded storage space.

Bonded storage space is space in a building or other secured area in which dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty.

While the goods are stored in the warehouse ("in bond") the owner may subject them to various processes necessary to fit them for the market, the duty and taxes are paid when the products come out of the warehouse, and are paid at the rate applicable at completion.

Any company looking to benefit from bonded storage space, should consult a specialist company such as Web Warehouse, they can find the perfect solution to any commercial storage or warehousing needs.

Whether you require short to long term pallet storage, additional warehouse space or your own standalone warehouse Web Warehouse will have the perfect storage solution.

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