How To Find Bonded Storage Space - 5th December 2011

For any business that imports large quantities the burden to pay any taxes and import duties in a lump sum can be an enormous burden on company finances, one that can massively impact on a business’s cash flow, leaving it highly vulnerable, especially in uncertain times.

Businesses buy large quantities of goods to achieve economies of scale and often import large amounts of goods, and whilst this can mean that they get better prices or terms from their suppliers, it also locks up large quantities of cash which is not available to spend until the goods are eventually sold.

The double blow is that, it can also mean potentially large bills for duties and taxes payable immediately for the whole shipment, placing even more pressure on cash flow. There is one way that businesses can get around the cash flow issue, buy using bonded storage space.

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

If you are a business who is looking to benefit from bonded storage you would be well advised to contact an experienced and professional bonded storage company such as Web Warehouse.

Web Warehouse are bonded storage experts, they have significant experience and be able to help your business find the perfect solution to your businesses storage or warehousing needs. Whatever your individual business requires Web Warehouse will be able to tailor a suitable storage solution for you.

If you would like more information on how Web Warehouse can help your business deal with bonded storage space, or storage space in general why not give them a call on 0845 603 883.