View Full Version : Import Duty ?
I am trying to stop myself considering a purchase from Hong Kong
It may help if the potential import duty is quite high
The cost of the item is £2000 - what are the extra costs likely to be ?
Thank you in advance :)
vat plus duty. so £400 plus
Duty percentage depends on what it is, hi-fi usually 20%, and the VAT 20% - you'll be charged VAT on the shipping cost as well, plus a customs clearance charge (between £10 and £20 depending on the carrier)
About £500
https://www.simplyduty.com/import-calculator/
Thanks for the quick replies :thumbsup:
It might be a Hifi related item :eyebrows:
I’m not sure it’s put me off yet
See someone linked same calculator.
I see this asked so many times, yet it's a five second search in Google [emoji23]
Neil, you want reasons not to buy from HK? :)
Consider the warranty, returns and repair aspects.
Also have you done your due diligence on the seller?
25% additional cost for import costs may pale in comparison.
See someone linked same calculator.
I see this asked so many times, yet it's a five second search in Google [emoji23]
Perhaps I didn’t want to feel alone - being locked down furtively looking for Hifi stuff:)
I don’t use google :)
Neil, you want reasons not to buy from HK? .
Perhaps I want someone to say, “it’s fine,You’re making a sensible decision,what could possibly go wrong !”
mad-moon
12-12-2020, 15:37
It will be fine. You are making a sensible decision, what could possibly go wrong...:mental:
Perhaps I want someone to say, “it’s fine,You’re making a sensible decision,what could possibly go wrong !”
What's the item Neil and who is the seller?
It’s a cartridge
The seller is quite well known (2juki) - I understand that’s there’s always risk - ive been mulling it over for sometime,maybe if I think about it long enough it will be sold :)
Pigmy Pony
12-12-2020, 21:10
In the end, it's the things we don't do that we regret. Or how about "quality is remembered long after the price is forgotten". I say go for it Neil, then invite me round for another listen :)
I think it may be the "luck of the draw" - small package you may get way without paying any tax/handling (gift from an uncle :rfl:)
In the end, it's the things we don't do that we regret. Or how about "quality is remembered long after the price is forgotten". I say go for it Neil, then invite me round for another listen :)
Wise words - and a very good incentive to go for it :)
I think it may be the "luck of the draw" - small package you may get way without paying any tax/handling (gift from an uncle :rfl:)
:lol: that would be nice
In the end, it's the things we don't do that we regret.
https://www.youtube.com/watch?v=qa9dttNx1S8
Pigmy Pony
13-12-2020, 09:56
Said it before me, said it better, and he's got hair. The bastard :(
Seriously, this film has passed me by, and Pacino is probably my favourite actor. How did that happen?
good film.. quite highly rated Steve so surprised youve not seen it
With the cartridge purchase timing is an important factor. However, the tax paid will still be a lottery. From 1st Jan 2juki will be responsible for paying the VAT and will need to be registered with HMRC and pay the duty before sending the item. Will he bother? What will he declare? Will selling to the U.K. be too much hassle for him to bother with?
I recently bought a DAC from China for $960. I was charged £24 tax/duty by DHL. I’ve no visibility what was declared as the value and simply paid the bill. The final delivery courier is important pre1st Jan, eg Royal Mail charge you handsomely for the service.
If you are going to pull the trigger...do it now in the hope you avoid the new VAT process.
I don't think that is correct Clive - for sellers outside the EU nothing changes on 1st Jan. They don't need to register for VAT with HMRC.
I don't think that is correct Clive - for sellers outside the EU nothing changes on 1st Jan. They don't need to register for VAT with HMRC.
Thanks for the correction. That helps....seems a bit strange that the EU becomes a special case. Is this their requirement?
Nothing's finalised regarding import from the EU as we still don't know what the deal will be (if any).
in a total 'no deal' scenario importing from the EU will be no different from importing from, say, China. You'll pay duty and tax on the same lines and the same WTO rates.
At the moment if you buy from EU you pay VAT at the rate set in the country of origin and that's included in the price so you don't get a separate bill for VAT. The EU seller collects the VAT and, assuming he is VAT registered, pays it on to his government.
Assuming no deal then he doesn't charge VAT within his price anymore and collects nothing for his government, the country he is shipping to charges it to the recipient of the goods and takes the money for themselves.
As far as I know there will be no special requirements re VAT on shipments from the EU. It will be the same as shipping from anywhere else in the world.
I think the new rules I had in mind were actually the ones for OMP transactions below £135, which don’t apply to a £2k cartridge, depending on how it’s declared... These rules come in globally 1st Jan.
https://www.gov.uk/government/publications/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021
I think the new rules I had in mind were actually the ones for OMP transactions below £135, which don’t apply to a £2k cartridge, depending on how it’s declared... These rules come in globally 1st Jan.
https://www.gov.uk/government/publications/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021
Right, I see what you are talking about now. But if the seller is using an OMP like EBay then it's Ebay's job to collect the VAT and pay it over, not the sellers. The seller won't need to VAT register.
Right, I see what you are talking about now. But if the seller is using an OMP like EBay then it's Ebay's job to collect the VAT and pay it over, not the sellers. The seller won't need to VAT register.
whats omp? open market platform?
Right, I see what you are talking about now. But if the seller is using an OMP like EBay then it's Ebay's job to collect the VAT and pay it over, not the sellers. The seller won't need to VAT register.
True but if not using an OMP then:
“For goods sent from overseas and sold directly to UK consumers without OMP involvement, the overseas seller will be required to register and account for the VAT to HMRC.”
whats omp? open market platform?
Online market place
Online market place
1 out of 3... must do better :eyebrows:
True but if not using an OMP then:
“For goods sent from overseas and sold directly to UK consumers without OMP involvement, the overseas seller will be required to register and account for the VAT to HMRC.”
Yes, but only for the under £135 items - I think any of them currently selling such items from their own sites will move the sales to an OMP rather than bother with becoming an unpaid tax collector for HM Government. That will put prices up though.
Yes, but only for the under £135 items - I think any of them currently selling such items from their own sites will move the sales to an OMP rather than bother with becoming an unpaid tax collector for HM Government. That will put prices up though.
The real impact is on under declaring prices paid. That must be the real motivation. Too auditable from 1st Jan.
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