A highly tax efficient investment*.
The wines we buy do not attract duty or VAT. And there is no capital gains charge on the Fund either. If you are a UK investor there is also no capital gains charge on your investment returns. This is because wine in the UK is classified as a wasting asset. The way in which the investment is sold in the UK is in accordance with the Financial Services and Markets Act 2000. International investors are subject to the rules governing their own jurisdictions and fiscal regimes.
* based on current tax legislation which is subject to change at any time, possibly with retrospective effect