John K Philips
Bonded Warehouse Storage Facility
WHAT IS A BONDED WAREHOUSE?
Here at John K. Phillips, we see many companies that are looking to import stock but want to spread the cost of HMRC payment make use of bonded warehouses. This is because VAT and duty are only paid on items that are shipped for delivery, helping improve your cash flow. This is because HMRC expenses are linked to actual sales, and therefor do not need to be paid in advance.
When your goods are collected from the port of entry and are stored in our dedicated bonded warehouse, and the duty is only payable once the stock leaves the premises. Our experienced staff will take care of all the paperwork and provide HMRC with the requisite details whenever part of your stock is shipped out. This means that you don’t have to worry about taking care of the finer details and can focus your priorities elsewhere, leaving it in the capable hands of the team at John K. Phillips!
We also have a fully automated system in place, using modern technology to our advantage. This allows us to keep track of incoming and outgoing stock from our bonded storage facility, allowing us to give you up to the minute information, whenever you require it.
BONDED WAREHOUSING IN ST. HELENS
We have a strategically located 250,000 sq. ft warehouse, based in St Helens. This ensures that our bonded storage location is very close to the ports of Liverpool, and all of the major airports that are accessible in the North West.
Once your imported cargo lands in the UK, it can be moved directly to our bonded warehouse, and will only be eligible for VAT and import duty when it is shipped for delivery. This means that your business can operate in a way that is a lot more adaptable and agile than before, as you will only be paying tax on imports after they have been successfully sold.
You will be glad to know that our expert staff have years of experience in dealing with imports, and can handle all the paperwork that is required to help notify HMRC at the necessary times and ensure that there is no mix-up, while our experienced warehousing teams take care of your consignments and track them in real time, for your convenience.
REAL-TIME CONSIGNMENT TRACKING
Thanks to our cutting-edge administration and logistical software, alongside a barcode tracking system that allows us to track consignments in real time, John K. Phillips can provide information that is constantly updating the status of your consignments and stock levels for seamless management and accurate planning. Get in touch with us today to see what we can do for you!
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Frequently Asked Questions
What does a bonded warehouse do?
A bonded warehouse essentially acts as a storage place for your dutiable goods in between having them shipped over and selling them on to your customers. An ideal solution for those who receive goods from overseas, but don’t have optimal storage or are looking to spread out the cost of HMRC payments, bonded storage warehouses provide a duty-free storage place until the point your stock leaves the premises.
How bonded warehousing reduces costs?
There are a wide range of gains available to your business when you opt for bonded warehousing. Amongst these are the financial benefits it can offer to business owners looking to streamline their finances.
Bonded storage can reduce business costs significantly simply by delaying duty payments until they are absolutely necessary. For businesses who deal heavily in importing and/or exporting, delaying costs such as VAT, as well as other custom duties, can really help to improve business.
Why companies choose bonded warehousing?
There are a range of commercial benefits which include the following:
- Affordability – Arguably the main selling point for businesses who choose to opt for bonded warehousing is affordability. Facilities can be used to store goods both VAT and duty tax-free up until the point of removal. Depending on the nature of your business, this can make for a huge saving.
- Convenience – Any business owner who deals with the shipment of goods will be familiar with the difficulties of storage. A bonded warehouse serves as a convenient option for those dealing with goods shipped from overseas, as a secure, affordable external storage space.
- Security – Of course, you want to feel confident that your goods are being stored safely, securely and appropriately. Depending on the facilities you have available, this could prove difficult if you are working with large volumes. A bonded warehouse can offer a secure option, with facilities like ours being fully equipped with security measures for added peace of mind.
- Streamlined – a huge benefit to with companies like ours is that you are provided with an all-in-one solution for many of your business needs. Along with our bonded warehousing service, we’re also experts in logistics and haulage, meaning we can take care of a huge part of your business, leaving you to focus on what you do best!
How much does bonded warehousing cost?
There’s no denying that opting to use a bonded warehouse can save your business huge amounts of money, however it is important to factor in the cost before making any decisions. Here at John K Philips, we pride ourselves on offering competitive prices for our services across the board, so if you’re considering using bonded warehousing – we encourage you to get in touch with our team today.
Is bonded warehousing right for you?
Bonded storage will not be the right storage solution for every type of business, however if you fall under any of the following categories, then you may wish to enquire for more information about bonded warehousing for you:
- If you import dutiable goods as part of your business
- If you handle huge volumes of goods
- If you’re looking for a highly secure storage solution for your goods
If you are still unsure on what is right for you – why not contact our logistics team who can help answer any of your questions and find the best storage solution for you and your business?