If you are interested in buying a cask of whisky, there are some topics which might be useful to you. Here you can get to know some interesting and important aspects regarding the ownership of a cask of new make or Scotch whisky.
Storage in Scotland
Spirit straight from the stills of a distillery is called new make. Only after maturing in Scotland for three years, the former spirit can be called Scotch whisky. By law it is not allowed to ship filled casks out of the country – they have to be bottled first, and the labels on the bottles have to comply with the guidelines of the Scotch Whisky Association.
Angels’ Share / Losing volume due to maturation
During maturation, the spirit interacts with the wood of the cask and the air inside and outside the cask. This is how Scotch whisky gets its unique taste. In the process of maturation, both the volume and the specific alcohol content in the cask are changing. This evaporation of the liquid is called Angels’ Share. When buying a cask and keeping it in storage, you should expect a loss of 1 – 2% of the total volume per year. Though the cask’s taxable value is decreasing, its monetary value still increases due to the age of the whisky.
Export, Duty and Taxes
All our casks are maturing in bonded warehouses in Scotland, so no VAT or alcohol duties need to be paid when purchasing a cask. If you sell a cask while it is still under bond, no VAT must be paid either.
Exporting whisky is only possible once the spirit has been bottled. If you are living in Great Britain, you have to pay duties and taxes to the bottler, and only then they can ship the whisky to you. If you want to export the whisky to other countries, the regulations differ and you should ask the local authorities in advance. Normally you have to calculate the amount of pure alcohol based on an actual re-gauging of your cask and pay the respective alcohol duties in advance. Afterwards, you will receive documents that allow the bottler to ship the whisky. If you would like to consume the Scotch by yourself, you have to check if you have to pay VAT in your country, too. Generally, you only have to pay VAT depending on the original price of the cask. If you want to sell the bottles after receiving them, you will have to pay VAT in nearly all countries depending on the price your customers pay.
Transporting bottles to a bonded warehouse in another country is the easiest way of exporting.