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.
Whisky cask investments may, in certain circumstances, be treated as exempt from UK Capital Gains Tax (CGT), depending on how the asset is classified and the individual investor’s tax position.
Tax treatment is not guaranteed and will vary based on personal circumstances and prevailing legislation. Investors should seek independent professional tax advice to determine how any potential tax liabilities may apply to them.
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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 Port Ellen Distillery on 19 March 2024 marked an important moment for Scotch whisky and has generated considerable interest across the industry.
Port Ellen, located on the island of Islay, was originally established in 1825 and became particularly well known for its distinctive peated whisky. The distillery ceased production in 1983, but its reputation continued to grow among whisky enthusiasts and collectors, with whisky from the original distillery becoming highly sought after.
Following its reopening, production at Port Ellen has resumed, bringing the distillery into a new chapter while retaining its connection with Islay’s long-standing whisky-making heritage.
The reopening is significant not only because production has returned, but also because it provides an opportunity to observe how the new distillery’s spirit develops over time. As with any newly produced spirit, its eventual character, maturation profile and demand will become clearer as stocks mature and future releases emerge.
For those interested in Scotch whisky, Port Ellen provides an interesting example of how distillery history, production and consumer interest can evolve over time.
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.
We currently have a selection of whisky casks available from £2,695, subject to availability and the individual characteristics of each cask.
Our sourcing team regularly reviews opportunities across the Scotch whisky market, with a focus on identifying casks from a range of distilleries, maturation types and barrel specifications.
Recent parcels have included casks matured in different types of wood, including first-fill Brandy and first-fill Château Margaux wine casks. The type and previous contents of a cask can influence the maturation characteristics of the whisky, making each cask an individual asset with its own specifications and history.
About VAT
The VAT treatment of a whisky cask can depend on the circumstances of the transaction and how the cask is held and supplied. Where a particular cask is advertised as “no VAT”, the applicable VAT treatment will be explained before purchase and should not be interpreted as a statement that all whisky cask transactions are exempt from VAT.
Important information
Whisky casks are an unregulated tangible asset and are not a regulated investment product. They do not benefit from the protections that apply to regulated financial products, including Financial Services Compensation Scheme (FSCS) protection.
The value of whisky casks can go down as well as up. There is no guarantee of future value or profit. You may not be able to sell your cask when you want to or for the price you expect. Past performance is not necessarily a guide to future performance.
This article is provided for general information and should not be regarded as personal financial advice or a recommendation to purchase any particular whisky cask. Prospective purchasers should make their own assessment and consider obtaining independent professional advice where appropriate.
What should you consider when purchasing a whisky cask?
Whisky casks are a tangible asset, but their value is not guaranteed and can go down as well as up.
The future value of an individual cask can be affected by a range of factors, including the distillery, age, spirit characteristics, cask type and condition, maturation, prevailing market demand and the costs associated with storage, insurance, regauging and eventual sale or bottling.
There is also no guarantee that a cask will increase in value, achieve a particular future valuation or be sold at a profit. A buyer may not be able to sell a cask when they want to or for the price they expect.
Past performance or historical market demand is not a reliable indicator of future performance.
Anyone considering purchasing a whisky cask should carefully consider the potential risks, costs and their own circumstances before proceeding. Whisky casks should not be viewed as a guaranteed-return product or as a substitute for regulated financial products.
