How much is import tax/duty.
- Thread starter serratia
- Start date
VAT on it will be 20% of the fair market value of the item plus carriage etc. Duty will depend on where it comes from and will be a percentage of fair market value including the VAT. I would assume that HMRC will say fair market value = the price you have paid if it is a normal arms length transaction.
No duty if the goods are less than £135 in value though!
No duty if the goods are less than £135 in value though!
Darth Vader
From the Dark Side
Basically figure in about 30% on what you paid.
Cheers,
DV
Cheers,
DV
Here are the full rules:
Customs duty - customs duty becomes payable if the goods are over £135 in value but is waived if the amount, when calculated is less than £9.
The amount of customs duty charged will depend on the type of goods imported and the value stated on the customs declaration CN22/CN23 (converted to £sterling using the rates of exchange for the month of importation as shown on the HMRC website).
The percentage varies depending on the type of goods and their country of origin. Duty is charged on:
the price paid for the goods, plus;
any local sales taxes, plus;
postage, packing and insurance.
However, the cost of postage is excluded from the calculation for customs duty on gifts except where the sender has used the Express Mail Service (EMS) as opposed to a standard mail service.
Where the value of gifts is below £630 per consignment, a flat rate of duty of 2.5 per cent will be applied, but only if it is to your advantage.
Value Added Tax (VAT) - Import VAT is charged at the same rate that applies to similar goods sold in the UK and applies to commercial goods over £15 in value, and on gifts that are over £40* in value. However, please note that commercial consignments sent to the UK from the Channel Islands do not benefit from any relief of import VAT. The value of the goods for import VAT is based on the:
basic value of goods, plus
postage, packing and insurance, plus
any import (Customs or Excise) duties charged.
As with customs duty, the cost of postage is excluded from the calculation for VAT on gifts except where the sender has used the Express Mail Service (EMS) as opposed to a standard mail service.
*Please note this limit will reduce to £36 with effect from 1 January 2013.
Customs duty - customs duty becomes payable if the goods are over £135 in value but is waived if the amount, when calculated is less than £9.
The amount of customs duty charged will depend on the type of goods imported and the value stated on the customs declaration CN22/CN23 (converted to £sterling using the rates of exchange for the month of importation as shown on the HMRC website).
The percentage varies depending on the type of goods and their country of origin. Duty is charged on:
the price paid for the goods, plus;
any local sales taxes, plus;
postage, packing and insurance.
However, the cost of postage is excluded from the calculation for customs duty on gifts except where the sender has used the Express Mail Service (EMS) as opposed to a standard mail service.
Where the value of gifts is below £630 per consignment, a flat rate of duty of 2.5 per cent will be applied, but only if it is to your advantage.
Value Added Tax (VAT) - Import VAT is charged at the same rate that applies to similar goods sold in the UK and applies to commercial goods over £15 in value, and on gifts that are over £40* in value. However, please note that commercial consignments sent to the UK from the Channel Islands do not benefit from any relief of import VAT. The value of the goods for import VAT is based on the:
basic value of goods, plus
postage, packing and insurance, plus
any import (Customs or Excise) duties charged.
As with customs duty, the cost of postage is excluded from the calculation for VAT on gifts except where the sender has used the Express Mail Service (EMS) as opposed to a standard mail service.
*Please note this limit will reduce to £36 with effect from 1 January 2013.
Thing Fish
pfm Member
Quote - How much is import tax/duty.
Hopefully nothing. I have ordered tons of stuff from abroad with prices ranging from £50 - £1000+ and only once have been charged import duty on one LP.
Hopefully nothing. I have ordered tons of stuff from abroad with prices ranging from £50 - £1000+ and only once have been charged import duty on one LP.
positive_energy
pfm Member
Just ask the seller to declare its value at £20 and describe it as broken/for parts... that way it will come in under the radar.
Still
he said his naim was ralph
Tax Bodger! ;-)
paul auster
Banned
Customs website as a duty/tax calculator , fill it in and hey presto the exact figure.
many far eastern importers have got in to the habit of putting a value of less than £50 to try and avoid duties . The efficacy of this is akin to a lottery in which the odds slightly favour the purchaser not the exchequer.
many far eastern importers have got in to the habit of putting a value of less than £50 to try and avoid duties . The efficacy of this is akin to a lottery in which the odds slightly favour the purchaser not the exchequer.
ExtremePie
pfm Member
Take a really hard look at shipping costs too, especially if its coming a long way.
BTW, if the value is under declared you can't then insure the item for its true worth.
BTW, if the value is under declared you can't then insure the item for its true worth.
positive_energy
pfm Member
And dont take out insurance. Its a con. You wont need it.
Living in the UK there are several sharks after your money: the financial sector (banks, insurance, etc.) and the Government. You owe to yourself to avoid all of them like the plague.
Living in the UK there are several sharks after your money: the financial sector (banks, insurance, etc.) and the Government. You owe to yourself to avoid all of them like the plague.
337alant
Negatively Biased
There is a 8 GBP handling fee as well
I once bought a second hand 20year old cassette deck from America paid 100 = 20 quid postage for it
The guy insured it for 250 quid, customs collared it and charged me 8 quid handling charge + VAT on 250 quid + VAT on the postage 62 quid extra if I remember correctly, I contested it and had to prove exactly what I paid for it as the sender didn’t state that on the parcel. They reduced the VAT to just the actual purchase cost and postage + handling charge.
So also beware of people over valuing the item for insurance purposes.
Alan
I once bought a second hand 20year old cassette deck from America paid 100 = 20 quid postage for it
The guy insured it for 250 quid, customs collared it and charged me 8 quid handling charge + VAT on 250 quid + VAT on the postage 62 quid extra if I remember correctly, I contested it and had to prove exactly what I paid for it as the sender didn’t state that on the parcel. They reduced the VAT to just the actual purchase cost and postage + handling charge.
So also beware of people over valuing the item for insurance purposes.
Alan
fryingtonite
pfm Member
If you do this definitely don't bother taking out insurance as it won't be valid.
Lost or damaged and the carrier won't be paying out 5k if you quoted a value of £20.
T.
positive_energy
pfm Member
Chances of it getting lost are minimal. Very very low. Damage is hard to prove and insurance companies typically don't pay out for this.
Mignun
pfm Member
That's fraud. Oh, and fraud, in this case Duty Evasion, is generally considered a serious crime by the way.
Quite apart from that, any seller agreeing to go along with this would be an idiot on a number of counts, not least because they bear responsibility should the worst happen.
Not if you tell the seller in writing that you take responsibility for loss or damage and don't want an expensive delivery such as signed for.
There are some Ebay sellers in USA who refuse to send items by standard air mail and insist on a signed for delivery (even on $30 sales).
I don't do business with them. I've not received anything damaged using standard air mail and neither have I had a package go missing.
I can understand someone needing signed for and full insurance if it is an expensive item of $1000's - the bulk of my purchases are below $200 and I am happy to take the limited risk.
paul auster
Banned
I trust as this moment you are busy building and operating your own roads . police fire and ambulance service , personal army , government , infastructure, schools and a myriad of neccessary services . I bet your family are pleased they dont have to rely on the national health service when thier ill and can be treated by you .
positive_energy
pfm Member
I think you mean handing over all your money to banks and the City of London surely... and cutting money to all the above, because that is what our Government is busy doing.
http://www.positivemoney.org/how-banks-create-money/short-history-banking-money-creation/
positive_energy
pfm Member
I would say its my duty not to pay it. We pay waay to much tax already.