Ask the Collective
The questions independent drinks founders ask most — answered. Distilled from years of community knowledge so the good stuff never disappears in the feed again.
What is the process for claiming back excise duty on drinks products when exporting to the EU?
The community acknowledges this is a legitimate but time-intensive process. Members recommend weighing the administrative burden against the financial return before pursuing a claim. **Getting expert help:** Rather than navigating HMRC claims alone, members suggest connecting with someone who handles excise duty claims regularly. Members have offered to introduce contacts who manage this process for drinks businesses. **Key consideration:** The effort required to gather documentation and manage the claim process may not justify the recovery amount for smaller export volumes. Factor in your time cost against the actual duty reclaim value before committing resources.
How do UK drinks companies set up Euro trading accounts for export customers?
Members recommend using **Wise** (formerly TransferWise) as the straightforward, cost-effective route. It's simple to set up a Euro account through their platform, with competitive exchange rates and low fees. The online interface is praised as user-friendly. Some members explored dedicated FX account providers but found that **Wise** offered comparable rates with a better digital experience, making it the preferred choice for most of the group. Members warned against services with excessive fees—one provider was flagged for charging 6-12%, which was considered prohibitively expensive compared to alternatives.