One of Scotland’s oldest working distilleries, Glenturret has announced plans to phase out the use of peat in its whisky production, with a target to complete this transition as early as 2025.
As we approach Octobers Budget, the announcement most investors will fear on Wednesday maybe the speculation about changes to CGT, Capital Gains Tax.
There has been a flurry (and in a slump period) of secondary investor properties to the market in recent weeks, no doubt to avoid the anticipated increase that Starmer suggests could be present in this year’s ‘painful’ budget.
We know the Government have already mentioned a £22 Billion hole and this could be one way it’s seen as easy pickings to plug.
Capital gains tax is charged on the profit made from the sale of increasing assets, such as second homes or business shares or investments. This is usually fine in a business environment but what if your average retiree has invested his pension or hard-earned cash into a retirement second property or similar investment?
Years ago, Whisky investment was only available to those connected to the industry, distillery workers, bottlers and suppliers and re-sellers. Some distilleries operated an in-house whisky investment programme aimed at people within their own circles. At Whisky investment UK we have specialist brokers that now have access to some of Scotland’s best cask whisky through years of connections and know how.
Savvy investors already buying whisky will know that there is no Capital gains tax to be paid on whisky when left in Cask, and this is most certainly a very tax efficient investment in today’s market. The cask whisky whilst kept in a bonded warehouse and inspected regularly by HMRC remains VAT exempt or ‘duty free’
If you would like to discuss cask investment further, be added to our weekly mailer and cask list then please do not hesitate to get in touch:
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The Energy Centre, Basildon, Essex,
SS14 3BE (Head Office)
The Speyside Business Centre,
8 West St, Fochabers, Scotland IV32 7D
Head Office: 01268 204 142
Speyside: 01343 610 224
WOWGR: GBOG119867200
The reopening of The Port Ellen distillery on the 19th of March 2024 has caused quite a stir here at Whisky Investment UK, having been spruced up and opened after almost forty years since the distillery, located on the South coast closed.
Port Ellen was originally opened around 1825 and concentrated on blended and peated Scotch. For reasons unknown the distillery which had part fallen into disrepair became obsolete around 1983.15 or so years later, Diageo announced plans to bring the distillery back to life as part of an investment of £180 million into the Scotch category.
The re opened Port Ellen has been fully refurbished with its two giant Phoenix stills being exact replicas of the distillery’s original early still, alongside a further two experimental stills. The master distiller on site Alexander McDonald and his team have included methods to explore multiple smoky flavours in the onsite lab. Also, a six-part roller mill and are among the investments in equipment. But where this really excites us here at Whisky investment is that the distillery is also carbon neutral. That element is what brought our partner group into wholesale sales and storage of cask whisky and what drives us forward with our background firmly in the ethical production of whisky and the energy management work the distilleries undertake. This also shows the work that the distillery and its management are environmental conscious and secures the ongoing future of Islay.
The Port Ellen Distillery is now officially open for business on Islay, breathing new life back into an old legacy building. This content has been created by WIUK for the purposes of information only. The Port Ellen distillery, Diego and its products which may be trademarked are not connected to WIUK and we make no inference or connection to them.
Following the hugely successful run of 1st fill Brandy and the excellent 1st fill Château Margaux, our sourcing team here at Whisky Investment UK have been hard at it again and just obtained an excellent selection of casks now available from just £2695 with of course no vat.
It’s STRICTLY first come first served on this stock and an allocation of only one cask per client in order that our regular clients don’t miss out as is often when our larger investors move in.
At Whisky Investment UK we operate a small team of knowledgeable whisky brokers that offer expert advice. Importantly we do not operate a hard sell operation and if it’s not for you then there’s no obligation to purchase. methods, prioritizing quality over quantity.
