Fine wine continues to enjoy advantageous tax treatment

Financial Wine BottleThe Autumn 2013 Budget statement may have had implications for property owners and certain structures such as corporate partnerships, but for owners of fine wine it continues to be good news. 

HMRC’s classification of wine as a wasting asset generally means it is exempt from Capital Gains Tax, a definite plus for fine wine, which has enjoyed an average annualised growth of 12.1 per cent per annum over the last twenty years.

For those that sell their wine whilst it remains in bonded storage, VAT and Duty charges are not triggered either, so fine wine definitely appeals to those looking for tax efficient investments.

For more information consult your tax or financial advisor, speak to your Vin-X portfolio manager and see the Wine Investment TAX REPORT HERE.