Hopefully a pleasant Christmas surprise for some members...

[kingofthehill]

In light of the now widely anticipated early January 2021 price increase and the forthcoming adjustments to the UK’s VAT refund scheme, I thought that some members may be interested to know that Watches of Switzerland have listed for sale online certain models that I know some are waiting for. For example, the 26400IO and 26480TI amongst others.

https://www.watches-of-switzerland.c...ak/p/17580905/

https://www.watches-of-switzerland.c...re/p/17580937/

https://www.watches-of-switzerland.c...ort_relevance/

Happy Christmas!

[sgwatchguy]

Some great pieces there including a blue dial RO.

Thanks!

[chiscott_29]

Is it official that the UK is ending the VAT refund scheme? I knew that was the proposal, and with the announcement today of the trade deal I haven't seen anything specific to the VAT scheme.

This would be really unfortunate if it ended as I definitely was one that took advantage, especially over the past few years with the GBP being weak.

[kingofthehill]

‘From 1 January 2021

Purchasing items in Great Britain

From 1 January 2021, you will no longer be able to purchase items in store in Great Britain under the VAT Retail Export Scheme. For goods purchased before this date, you can still make a claim under the scheme on departure from the UK or EU, in line with the current rules, which allow three months from the month of purchase to claim.

You will still be able to purchase items VAT free from Great Britain if the retailer sends them direct to your address outside the UK.

Purchasing items in Northern Ireland

You will still be able to make purchases and claim a refund in Northern Ireland under the VAT Retail Export Scheme.

You will also still be able to purchase items VAT free from Northern Ireland if the retailer sends them direct to your address outside the UK and EU.

If you make purchases in Northern Ireland under the scheme, and are bringing the goods to Great Britain, the retailer will collect import VAT.’

Source: https://www.gov.uk/guidance/claim-va...041#from-Jan21

[Patton250]

Originally Posted by kingofthehill

In light of the now widely anticipated early January 2021 price increase and the forthcoming adjustments to the UK’s VAT refund scheme, I thought that some members may be interested to know that Watches of Switzerland have listed for sale online certain models that I know some are waiting for. For example, the 26400IO and 26480TI amongst others.

https://www.watches-of-switzerland.c...ak/p/17580905/

https://www.watches-of-switzerland.c...re/p/17580937/

https://www.watches-of-switzerland.c...ort_relevance/

Happy Christmas!

Wow that website is terrible. Absolutely terrible.

[ragsk]

From my personal perspective, its a good thing. Hopefully more watches for us UK folk.

I know there are broader ramifications of this for retailers etc but very few countries do what the UK has been doing. EU aside there is no refund of sales tax in the US, neither in Switzerland nor in Dubai I don't think.

[Token74]

Inclined to agree that this is a good thing for Uk buyers, but won’t people just continue to exploit by getting watches posted to their overseas address?


Sent from my iPhone using Tapatalk

[ragsk]

Originally Posted by Token74

Inclined to agree that this is a good thing for Uk buyers, but won’t people just continue to exploit by getting watches posted to their overseas address?


Sent from my iPhone using Tapatalk

Some will of course.

But it's a less attractive a proposition - when a watch is posted it will most definitely incur import duties and taxes in the destination country before it is released to the buyer. In some countries these import duties can be substantial - for example in India its 40.8%. The rates are even higher in China....

I bet currently a very large proportion of foreign buyers don't declare their watch purchase when returning to their home country after a shopping trip to the UK. So they avoid such high import duties and benefit from a cheap UK price with the VAT refunded.

[yoast]

Won't make any difference as imo ad's can just export the watch. It's probably better because you are no longer dealing with the globalblue thieves.

[VogelPhoenix]

Originally Posted by sgwatchguy

Some great pieces there including a blue dial RO.

Thanks!

Before everybody gets too excited: the blue 15450 is listed as "Availability: On application only"

[chiscott_29]

Originally Posted by ragsk

Some will of course.

But it's a less attractive a proposition - when a watch is posted it will most definitely incur import duties and taxes in the destination country before it is released to the buyer. In some countries these import duties can be substantial - for example in India its 40.8%. The rates are even higher in China....

I bet currently a very large proportion of foreign buyers don't declare their watch purchase when returning to their home country after a shopping trip to the UK. So they avoid such high import duties and benefit from a cheap UK price with the VAT refunded.

This is true, but most watch dealers know exactly how to fill out the customs forms to make the duty minimal. At least that's true when they ship to the U.S. I have never done this, but I've been told from dealers that at most I'd have to pay a few hundred dollars as a duty and that was on a rather expensive watch that I believe was around $25k. In the end, this is probably better than having Global Blue steal their exorbitant fees.

All in all though I agree...Part of the draw here is getting the watch immediately and getting it in the UK (or wherever else). That unfortunately is gone.