Import / Export Duties & Tax etc.

[fatfreddy]

If anyone can put me right on this I'd be very grateful!.

I've just been speaking with Her Majesties Customs people and I believe that if I bring a watch into the UK from the US I will be liable for VAT (tax) at a whopping 20% of the insured value + postage. I will also have to pay a fixed 1 Euro for ? (about $1 so not worth worrying about) and also a 'document' fee levied by the couriers.

Can anyone confirm these figures or better still has anyone brought a watch into the UK. I'm looking for a vintage Rolex and need to factor this in.

After putting the phone down I also thought are the charges the same for pre-owned vs new and are they dependant on Region ie. If I buy from Asia? At what point are charges made and how do you pay, do they hold the goods until payment is made?

A lot of Qs I know but any help / advice would be much appreciated.

[DiamondJack]

Yes the import tax is 20% on the full value plus the postage.

This is the case whether the watch is new or pre-owned or whether a gift or bought.

The only way you would not pay the tax is if you already owned the watch and for example sent it for a service or repair. But you may need to prove this if questioned.

If a false declaration of value is made and the watch is inspected then you pay tax on deemed value by UK Customs.

Either way, if tax is due, you will be posted a note with the tax due and will need to go on line and pay the charge before the package is released to you. This will also include an administration/ handling fee.

Currently, the tax will not be collected/charged if the amount of tax due is less than £9. Therefore the value plus postage would need to be less than £45 to avoid the tax.

[colpol]

If I was you I'd factor in a long weekend to the US to collect the watch in person & bring back on your wrist even if it costs you a bit more

We get ripped off, er, em sorry - pay enough taxes in the UK without this form of robbery, er, em stealth taxation

I'm sure someone will pipe in that its your moral duty to pay & dishonesty's not the best policy, etc

You decide & of course - keep it to yourself .... !!

[spuds]

http://www.ukimports.org/how_to_calc..._duty_vat.html

[Swiss_Time_Watches]

Originally Posted by fatfreddy

After putting the phone down I also thought are the charges the same for pre-owned vs new and are they dependant on Region ie. If I buy from Asia?

you'll avoid any customs charges of you buy in the EU, anywhere else in the world is the same price.

[toph]

emm there can also be a 10/15% service /customs charge on top of VAT.. cant remember exactly but should look into that to confirm exacty what it is

[fatfreddy]

Thanks for the replies so far, much appreciated.

[Chris B]

It's bitter pill to swallow :(

[TempoKing]

Originally Posted by toph

emm there can also be a 10/15% service /customs charge on top of VAT.. cant remember exactly but should look into that to confirm exacty what it is

This sounds right, outside the EU an item arriving from a third country
has a 10% levy other than the VAT.
What I would like to know is the amount we are talking about ?
But you did say vintage
If it is a 2.000 dollar Rolex the fees are maybe 350 pounds
If it is a 10.000 dollars vintage watch then we are into serious money for fees
and other Mickey mouse charges

[Jools]

as posted earlier - have yourself a nice few days holiday and come back with the watch on your wrist - keep the box in your bag - you have already paid tax on your income, savings, inheiritance etc etc so don't feel too guilty.. why should you pay tax twice?

[Like To Watch]

Post the box and papers home. Wear the watch.