How to manage a bonded warehouse

Not all warehouses are the same. You might think that they conform to the same pattern and are much of a muchness but this is not true. For example there is a bonded warehouse. A bonded warehouse contains goods that are subject to tax and excise. In other words they have alcohol and cigarettes in them. This means that they are subject to higher security than other warehouses that already have a significant amount anyway, due to the rather expensive contents. It’s not just tobacco and drink, there are also jewellery and other goods subject to tax and duty.  There are other things like Steel, Nuclear materals, torture devices (for Museums!) and Diamonds. Quite a mixed bag all things considered but it is mainly cigarettes and alcohol.

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Bonded Warehouse Management is quite the skill. You have to be aware of a number of factors to run the place successfully. Here are a few factors that need to be taken into account.

  • Handling the goods – You must make sure that they are kept in a presentable and marketable condition. They must also be ready for sale at any time.
  • Processing and repairing the goods. You need to have a slew of forms to take them out to the warehouse to put them back in again.
  • If you are having prospective buyers come in they must be accompanied by a member of staff at all times.
  • The items in the warehouse can only be removed on a temporary basis.
  • There are many rules about not removing the goods so that they can be bought in any way. This is a very big no no from the HMRC and can have serious consequences.

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These are just a few. There are many more.

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