Import duty

[Xtralarg]

I'm on the hunt for a hulk, one at the right price and condition. I have found one at a grey, it's from the US but there is no confirmation that import duty has been paid on entry to the UK.

My question is, does the duty owed follow the watch and therefore the prespctive buyer, or does it always remain the responsibility of the person who imported the watch?

Thank you

[Russell996]

You’re overthinking this. Get it and enjoy.

[Gibby88]

Up to the buyer to sort. You should be paying VAT on the cost + shipping.

[Xtralarg]

Thanks guys

[Seibei]

Relax, it is only a watch.

[Xtralarg]

Originally Posted by Gibby88

Up to the buyer to sort.

So you're saying that it would become my responsibility?

[Russell996]

Originally Posted by Xtralarg

So you're saying that it would become my responsibility?

Not if you are buying from a UK grey which is what I thought your OP stated. WF?
Is it a UK grey?

[Gibby88]

Originally Posted by Xtralarg

So you're saying that it would become my responsibility?

In theory. Customs will charge VAT on the declared value, but if they inspect it in more detail then you could be liable for VAT on the true value. They won’t release it until it’s paid. So options are under declare the value, think the limit is £300-400 value ( check that) and hope it sails through. But be prepared for a much higher bill! Buy within the EU and you don’t have this problem, but be quick!

[Gibby88]

Originally Posted by Xtralarg

So you're saying that it would become my responsibility?

Originally Posted by Russell996

Not if you are buying from a UK grey which is what I thought your OP stated. WF?

Just re-read the post. If it’s already in the UK I wouldn’t worry. I read it as a US dealer, sorry. Seller should have sorted it out.

[CharlesN]

Originally Posted by Xtralarg

So you're saying that it would become my responsibility?

If you import from the US, grey or AD your watch will be liable to Duties.

Thats VAT and possible a small percentage for duty.

Its for YOU to pay the charges.

[bonsai-man]

Usually import taxes are the responsibility of the buyer and depending on the price can be pretty steep. Unless you’ve negotiated a really good deal on the asking price it’s probably not worth the hassle. You can get some bargains sometimes but usually will pay more by the time you add on UK import taxes. Returning the watch if you’re not happy can be a lot more hassle though, especially if you’re only buying from pictures, remember one mans mint is another’s average condition.

It’s not a hard reference to find and still in current mass production by Rolex. Be patient and the right watch will be found locally at the right price, patience is key and half the fun.

[77T]

Originally Posted by Russell996

Not if you are buying from a UK grey which is what I thought your OP stated. WF?
Is it a UK grey?

His post currently states first seller was US based. Don’t know if he edited it.


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[Russell996]

Originally Posted by 77T

His post currently states first seller was US based. Don’t know if he edited it.


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Yes the watch originated from a US AD but I believe the OP then states that the piece is now in the UK and he is buying from a Uk grey. He is only liable for ‘VAT on the margin’ which is the VAT charged by grey dealers in the UK.
Perhaps the OP would care to clarify.

[Xtralarg]

The watch is now in the UK at a grey, it was originally from the USA, only a few months old.

No record of any form of duty paid upon importation. Online calculators show that approx £2000 duty would be paid if declared on entry. https://www.simplyduty.com/import-calculator/

I hope this helps clarify.

Thank you

[inadeje]

If the watch has already passed the uk border and, is on national territory, the opportunity to impose import duties has ended. There is not a “post-import” tax, nor are there customs and excise boffins reading classifieds checking whether watches traversed the uk border after tax payment...or a taxman doing wrist watch analysis at the local pub...

The only time the above rule would be contradicted is when an item or goods are temporarily imported with a defined re-export term. This happens with foreign cars for instance, they’re given temporary import passage but, if you read the temp import approval, it will say “if you stay after x date, you will be subject to x import tax”. Watches cannot be temporarily imported, there is no mechanism to do this.

[Wedders]

I have imported 2 watches from the States so I speak from experience not guesswork.
You have to pay customs to clear the package and VAT on the watch and VAT on the customs charge mentioned previously. Even though you get a good deal buying from the States it’s not that good after you have paid the charges.
I have promised myself that I will not buy from USA unless it’s a watch I can’t get elsewhere or the deal is too good to miss.

[Harry-57]

If you are not importing it, there is no duty for you to pay. Whoever brought it into the UK originally either paid or avoided the charges. Nothing is chargeable to you. It's declared/intercepted/smuggled at the point of entry to the UK. That is nothing to do with you.

[77T]

Originally Posted by Harry-57

If you are not importing it, there is no duty for you to pay. Whoever brought it into the UK originally either paid or avoided the charges. Nothing is chargeable to you. It's declared/intercepted/smuggled at the point of entry to the UK. That is nothing to do with you.

Are you practicing law in UK?

I’m asking since that statement has some problems within it.



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[bigfatpauli]

It depends on how you import the watch.

[watchbowl]

If the duty hasn’t been paid it would be the importer that would be liable. Also there’s no VAT on secondhand goods

[Xtralarg]

Thank you to everyone who has responded.

My thoughts are that just because the person who imported the watch managed to do so without paying any duty doesn't mean that duty isn't still owed. I would think that duty will always be owed and if HMRC somehow found out then they would impose duty and retain the watch until such was paid.

I'll speak to my accountant, if I get a solid answer I'll post it on here.

[Russell996]

Originally Posted by Xtralarg

Thank you to everyone who has responded.

My thoughts are that just because the person who imported the watch managed to do so without paying any duty doesn't mean that duty isn't still owed. I would think that duty will always be owed and if HMRC somehow found out then they would impose duty and retain the watch until such was paid.

I'll speak to my accountant, if I get a solid answer I'll post it on here.

Can I ask how you know duty isn’t paid. I have imported watches and paid duty and there is nothing about the invoice from the foreign dealer that shows duty is or isn’t paid. Sure, I have a separate duty paid invoice etc from the courier company but I would never pass that on with the watch when selling it. Indeed, i’ve Never been asked for it by any dealer.
OR suppose the piece was given as a gift from a US family member to a UK family member - no duty due. Or someone moves country of residence and then sells the piece - no duty due.
Or take the case of an AD in the UK who sells you a piece and 1 week later goes bankrupt, you have paid VAT to them but they haven’t paid the VAT man, you are not liable for someone else’s payment or non payment. The invoice from the UK grey will state they have title and for the agreed figure + VAT on the margin they are selling it to you - VAT on the margin I don’t believe can be claimed back either?
I assume this is a reputable dealer?

[Xtralarg]

Originally Posted by Russell996

Can I ask how you know duty isn’t paid. I have imported watches and paid duty and there is nothing about the invoice from the foreign dealer that shows duty is or isn’t paid. Sure, I have a separate duty paid invoice etc from the courier company but I would never pass that on with the watch when selling it. Indeed, i’ve Never been asked for it by any dealer.
OR suppose the piece was given as a gift from a US family member to a UK family member - no duty due. Or someone moves country of residence and then sells the piece - no duty due.
Or take the case of an AD in the UK who sells you a piece and 1 week later goes bankrupt, you have paid VAT to them but they haven’t paid the VAT man, you are not liable for someone else’s payment or non payment. The invoice from the UK grey will state they have title and for the agreed figure + VAT on the margin they are selling it to you - VAT on the margin I don’t believe can be claimed back either?
I assume this is a reputable dealer?

I asked if import duty was paid and they said that they didn't know and didn't ask the person they bought it from. So I dont know if it has or has not been paid.

Duty is payable on imported gifts dependant on the value, this information is easy to find on the .Gov website.

https://www.gov.uk/government/public...of-customs-law

I'll try to find out what the absolute answer is and post it on here. We can all have opinions, they wont all be correct, including mine.

I just dont want to end up with a watch which is if interest to HMRC because it wasnt declared. I know the chances of them ever finding out are slim, but I just dont want the thought hanging over me.

Once again thank you to everyone who has contributed.

[Xtralarg]

The dealer is well established, they seem reputable but that's all I can really say. I have never dealt with them before.

[watchbowl]

Which dealer is it? When I traded my SS Daytona at Mark Worthington, they asked about the country of origin, I assume due to the import duty/tax implications.

[VacherObsessive]

Originally Posted by Xtralarg

I'm on the hunt for a hulk, one at the right price and condition. I have found one at a grey, it's from the US but there is no confirmation that import duty has been paid on entry to the UK.

My question is, does the duty owed follow the watch and therefore the prespctive buyer, or does it always remain the responsibility of the person who imported the watch?

Thank you

If you are buying from the USA taxes / Duty is your responsibility to pay upon arrival to the uk and is 24% of the value of the watch. If you had it delivered by USPS it will be held in customs until the balance is paid. Then parcel force will deliver it

If it is via DHL or other major shippers, it will be delivered door to door, and you will receive a letter / invoice within approx 2 weeks requesting the duties

[VacherObsessive]

Originally Posted by Gibby88

In theory. Customs will charge VAT on the declared value, but if they inspect it in more detail then you could be liable for VAT on the true value. They won’t release it until it’s paid. So options are under declare the value, think the limit is £300-400 value ( check that) and hope it sails through. But be prepared for a much higher bill! Buy within the EU and you don’t have this problem, but be quick!

If you do that you also declare the value for the insurance value. So if it’s lost / stollen in transit he’ll only get £300-£400 back for his £10,000 hulk... ouch

[VacherObsessive]

Originally Posted by Xtralarg

I'm on the hunt for a hulk, one at the right price and condition. I have found one at a grey, it's from the US but there is no confirmation that import duty has been paid on entry to the UK.

My question is, does the duty owed follow the watch and therefore the prespctive buyer, or does it always remain the responsibility of the person who imported the watch?

Thank you

Just seen that you are buying IN the UK and the watch originally came from the US. A weird question because it’s not your problem

In that case the grey has to sort out any VAT and the like owed and as a business he would have sorted all that out. When you buy it in the UK they have to declare and pay the VAT, if any is owed, if second hand, then it isn’t. None of it is your problem. If he doesn’t declare anything it’s still that’s not your problem

No one is going to chase you down, especially on a pesky watch!

You bought it in the UK, done, you’re ok.

I think you have been following the stories of greys in Bangkok who has stock confiscated because the greys didn’t pay duty... well the people that bought any Rolexes are not going to be chased down, even in corrupt Thailand! You’re being paranoid I think

[Xtralarg]

Originally Posted by VacherObsessive

Just seen that you are buying IN the UK and the watch originally came from the UK. A weird question

In that case the grey has to sort out any VAT and the like owed and as a business he would have sorted all that out. When you buy it he has to declare and pay the VAT. If he doesn’t that’s not your problem

No one is going to chase you down

I clearly stated that I'm in the UK and the watch is from the USA. Thank you for your comments but I'm inclined to disagree with your opinion that my question is weird.

[Russell996]

Originally Posted by Xtralarg

I asked if import duty was paid and they said that they didn't know and didn't ask the person they bought it from. So I dont know if it has or has not been paid.

A complicating issue with any questions you might ask will of course be where the piece entered the EU, if it didn't come direct into the UK but entered via another EU country of course no UK duty will be due. You will need to know the complete history of ownership to understand the implications of what you discover about when duty is due.
Good luck with your fact finding mission but I suspect GDPR means you will never be able to find out the information you seek about it's history.