Importing to U.K. from EU = vat etc charges

[jaySL350]

Apologies
Relevant info found

[Wobbly]

Originally Posted by jaySL350

Apologies
Relevant info found

Why don’t you share, so others know.

[jaySL350]

Originally Posted by Wobbly

Why don’t you share, so others know.

Hi Wobbly,,,
I was trying to search for vat duties from the EU,,
I found out that it’s around 20% since Brexit took effect,,
£10k watch becomes £12k + roughly,,,

[rootbeer7]

Originally Posted by jaySL350

Hi Wobbly,,,
I was trying to search for vat duties from the EU,,
I found out that it’s around 20% since Brexit took effect,,
£10k watch becomes £12k + roughly,,,

I believe slightly cheaper than rest of world where there’s roughly 9% import tax due as well.

[TimepieceRPP]

Yes, plus some customs fee

[TomLou]

Originally Posted by jaySL350

Hi Wobbly,,,
I was trying to search for vat duties from the EU,,
I found out that it’s around 20% since Brexit took effect,,
£10k watch becomes £12k + roughly,,,

Are we to assume you have received the EU export VAT refund, between
20% and 24% depending on the country you bought the watch from ?

[TimepieceRPP]

Originally Posted by TomLou

Are we to assume you have received the EU export VAT refund, between
20% and 24% depending on the country you bought the watch from ?

Deduct admin fees, like France, only get 12% off.

[Wahlberg]

Originally Posted by TomLou

Are we to assume you have received the EU export VAT refund, between
20% and 24% depending on the country you bought the watch from ?

Good luck doing that on something used. Because you can't and won't.

[grimps]

I got around 15% back when I bought a Bluesy in Spain recently

[JSolution]

Originally Posted by jaySL350

Hi Wobbly,,,
I was trying to search for vat duties from the EU,,
I found out that it’s around 20% since Brexit took effect,,
£10k watch becomes £12k + roughly,,,

Wow I didn’t even know this I used to buy loads on c24…


Guess that means watches in the UK are now worth even more then ?

[jaySL350]

Originally Posted by TomLou

Are we to assume you have received the EU export VAT refund, between
20% and 24% depending on the country you bought the watch from ?

No Tom,,,,
It’s swings and roundabouts,,,
Just wasn’t worth it ,,,
I said roughly £2k plus,,,,VAT and import charge on a £9/10k piece from the EU,,,

[RolexADreal]

so if we buy let's say in italy a watch worth let's say 10.000. We receive 1400 euro (10.000/1.15).

We then have to pay 20% roughly to the net cost? (10.000-1400)*1.2 = 10.320?

Trying to play with the numbers..

[TimepieceRPP]

True. Basically it depends on the dealers if they offer tax refund, even though they offer, we have the obligation to declare and pay import tax ,( whether we do it or not os another thing, esp if you ask them to ship it to you, customs will check, unless u bring it in person and not being checked in customs).
So the numbers tell u not worth.

[RolexADreal]

I am currently more worried about custom checking on watches we own, hearing some stories of people being asked proof of purchases for the watch they wear... all my receipts sit in the bank safe together with box and papers so it could be an annoying procedure... haven't travelled much since covid, the few trips i had were smooth as always, nothing to declare, you go ahead and back home , but if they start checking people regularly that will become a pain in the neck...

Originally Posted by TimepieceRPP

True. Basically it depends on the dealers if they offer tax refund, even though they offer, we have the obligation to declare and pay import tax ,( whether we do it or not os another thing, esp if you ask them to ship it to you, customs will check, unless u bring it in person and not being checked in customs).
So the numbers tell u not worth.

[jaySL350]

Originally Posted by TimepieceRPP

True. Basically it depends on the dealers if they offer tax refund, even though they offer, we have the obligation to declare and pay import tax ,( whether we do it or not os another thing, esp if you ask them to ship it to you, customs will check, unless u bring it in person and not being checked in customs).
So the numbers tell u not worth.

Yep,,,
Also insurance company’s won’t pay out on a “Smuggled” watch should anyone ever need to make a claim and didn’t pay duty,

[Dr.Mehr]

Brexit showing it’s true colours

[Wahlberg]

Originally Posted by jaySL350

Yep,,,
Also insurance company’s won’t pay out on a “Smuggled” watch should anyone ever need to make a claim and didn’t pay duty,

I don't see the link between an insurance company and something the state taxes. You pay insurance, so you pay out when it gets stolen. The government has nothing to do with it.

[jaySL350]

Originally Posted by Wahlberg

I don't see the link between an insurance company and something the state taxes. You pay insurance, so you pay out when it gets stolen. The government has nothing to do with it.

Oki Doki,,,,

[TimepieceRPP]

Originally Posted by jaySL350

Oki Doki,,,,

Unless u have asked the dealer to mark down the price and pay less tax. Haha

[TimepieceRPP]

Originally Posted by fcefalu

I am currently more worried about custom checking on watches we own, hearing some stories of people being asked proof of purchases for the watch they wear... all my receipts sit in the bank safe together with box and papers so it could be an annoying procedure... haven't travelled much since covid, the few trips i had were smooth as always, nothing to declare, you go ahead and back home , but if they start checking people regularly that will become a pain in the neck...

May I know where? I went to Paris and back to the UK twice in this month and very smooth. Maybe I didn't wear any watches and dressed so shxt. Also I took eurostar so they might not check seriously

[telesquire]

You have to why the Germany based Chronext bother advertising their 300 or so Rolex and such lofty prices on Ebay UK with the duty to be paid on top. They seem prolific right now. Maybe people don't realise the duty till they get the call. Their 9k Explorers would come in expensive.
I was also told that there are a substantial amount of Rolex in the UK for sale without the box and papers now because in the past they have been brought into the country under the radar to avoid tax. Especially back in the early 00's when the pound was so strong against the dollar, you could fly to the States buy a watch and come back still saving a fortune.

[TimepieceRPP]

Originally Posted by telesquire

You have to why the Germany based Chronext bother advertising their 300 or so Rolex and such lofty prices on Ebay UK with the duty to be paid on top. They seem prolific right now. Maybe people don't realise the duty till they get the call. Their 9k Explorers would come in expensive.
I was also told that there are a substantial amount of Rolex in the UK for sale without the box and papers now because in the past they have been brought into the country under the radar to avoid tax. Especially back in the early 00's when the pound was so strong against the dollar, you could fly to the States buy a watch and come back still saving a fortune.

[jaySL350]

Originally Posted by TimepieceRPP

Unless u have asked the dealer to mark down the price and pay less tax. Haha

That’s funny,,

[RolexADreal]

I would assume that boxes and paper got shipped at a later stage...

Originally Posted by telesquire

You have to why the Germany based Chronext bother advertising their 300 or so Rolex and such lofty prices on Ebay UK with the duty to be paid on top. They seem prolific right now. Maybe people don't realise the duty till they get the call. Their 9k Explorers would come in expensive.
I was also told that there are a substantial amount of Rolex in the UK for sale without the box and papers now because in the past they have been brought into the country under the radar to avoid tax. Especially back in the early 00's when the pound was so strong against the dollar, you could fly to the States buy a watch and come back still saving a fortune.

[RolexADreal]

heathrow, not my direct experience but heard ab out it. I personally got stopped once in feb, but i had nothing to declare for real, so they did let me go...

Originally Posted by TimepieceRPP

May I know where? I went to Paris and back to the UK twice in this month and very smooth. Maybe I didn't wear any watches and dressed so shxt. Also I took eurostar so they might not check seriously

[Mini2]

You just have to think T5
Use to have on a busy day in and out 70-80k people and went as low as 7/8k a day. You do the maths

[AEV]

I recently bought a watch from a non-EU country.
I got back 12%, even though the VAT rate was 20%.

[Ravenburg]

Its just such a minefield of additional costs and seems to not be worth it unless you're getting a really good deal.
Good luck