Question for Araf

[wav8]

Hi just a quick question if I was to import wheels from Australia is there a ready reckoner for duty and or VAT thanks in advance wav8

[stevieturbo]

wav8 said:

Hi just a quick question if I was to import wheels from Australia is there a ready reckoner for duty and or VAT thanks in advance wav8

Virtually ALL imported goods are liable for import duty and VAT

Wheels will be no exception

[ARAF]

Yes. Duty is due on the goods and non-EC freight. VAT is due on the goods, all freight and clearance charges, and also on the duty.

Duty on alloy wheels (8708 7050 10) is at 4.5%

Therefore, if your wheels are £1000, the freight to the UK is £500, and the UK charges are £250

then value for duty is £1000 + £500 = £1500 and duty at 4.5% is £67.50

Value for VAT is £1000 + £500 + £250 + £67.50 = £1817.50 and VAT at 20% = £363.50

Your £1000 wheels will therefore cost you £2181.

Guessing your next questions, the February Customs rate of exchange for the Aussie Dollar is 1.872/£ and for the US Dollar is 1.6584/£


If you need more specific information, then feel free to PM me.

Edited by ARAF on Thursday 13th February 22:46

[DaciaBumdart]

whats the cheapest country in the EU for VAT and Duty on imports?

[IXLR8]

ARAF said:

Yes. Duty is due on the goods and non-EC freight. VAT is due on the goods, all freight and clearance charges, and also on the duty.

Duty on alloy wheels (8708 7050 10) is at 4.5%

Therefore, if your wheels are £1000, the freight to the UK is £500, and the UK charges are £250

then value for duty is £1000 + £500 = £1500 and duty at 4.5% is £67.50

Value for VAT is £1000 + £500 + £250 + £67.50 = £1817.50 and VAT at 20% = £363.50

Your £1000 wheels will therefore cost you £2181.

Guessing your next questions, the February Customs rate of exchange for the Aussie Dollar is 1.872/£ and for the US Dollar is 1.6584/£


If you need more specific information, then feel free to PM me.

Edited by ARAF on Thursday 13th February 22:46

Christ it sounds cheaper to fly out there and pick them up yourself and hand lugagge them back...
pay the extra weight duties

[Wyld Stallyn]

IXLR8 said:

Christ it sounds cheaper to fly out there and pick them up yourself and hand lugagge them back...
pay the extra weight duties

Would You Trust the Pitchfork Wielding Baggage Handlers with Your Rim?

[ARAF]

DaciaBumdart said:

whats the cheapest country in the EU for VAT and Duty on imports?

Duty rates are the same throughout the world. As for the cheapest country for VAT, it must be the Channel Islands, as they don't pay any - however low value consignment relief was stopped in 2012, so you'll have to pay the VAT when the goods arrive in the UK. Luxembourg has a 15% rate, that would stop you having to pay it again in the UK, but the additional shipping would cost you more than you would save.

[stevieturbo]

DaciaBumdart said:

whats the cheapest country in the EU for VAT and Duty on imports?

If you're in the EU buying within the EU, no further VAT is payable on import to the UK as far as I am aware.

[DaciaBumdart]

stevieturbo said:

If you're in the EU buying within the EU, no further VAT is payable on import to the UK as far as I am aware.

thats the idea, was just thinking if say Spain had a VAT of 10% it would make sense (if the value of goods were more than the OP's)

[wav8]

ARAF said:

Yes. Duty is due on the goods and non-EC freight. VAT is due on the goods, all freight and clearance charges, and also on the duty.

Duty on alloy wheels (8708 7050 10) is at 4.5%

Therefore, if your wheels are £1000, the freight to the UK is £500, and the UK charges are £250

then value for duty is £1000 + £500 = £1500 and duty at 4.5% is £67.50

Value for VAT is £1000 + £500 + £250 + £67.50 = £1817.50 and VAT at 20% = £363.50

Your £1000 wheels will therefore cost you £2181.

Guessing your next questions, the February Customs rate of exchange for the Aussie Dollar is 1.872/£ and for the US Dollar is 1.6584/£


If you need more specific information, then feel free to PM me.

Edited by ARAF on Thursday 13th February 22:46

thanks for the info Araf will pm you over the weekend got some buisness to sort out for my father many thanks.

[rix]

ARAF said:

Duty rates are the same throughout the world.

Not quite, Anti-dumping duty applies on certain goods from certain countries!

[ARAF]

rix said:

ARAF said:

Duty rates are the same throughout the world.

Not quite, Anti-dumping duty applies on certain goods from certain countries!

I was going to put 'Ad velorum' in front, but I didn't want to confuse matters. There's plenty of other expenses that may also be applicable to specific commodities, but what I previously wrote is good enough for here.

[rix]

what line of business are you in chap?

[ARAF]

rix said:

what line of business are you in chap?

Customs clearance.

[rix]

ARAF said:

Customs clearance.

Similar

[ARAF]

rix said:

ARAF said:

Customs clearance.

Similar

We'll have to compare notes, one day then.

[stevieturbo]

DaciaBumdart said:

thats the idea, was just thinking if say Spain had a VAT of 10% it would make sense (if the value of goods were more than the OP's)

I'm sure it would be expensive to move to spain in order to purchase from there and have them shipped there, just to avoid 10% tax.

[ringram]

Now if it was a business expense...

[rich24v]

Is there a time limit for customs to raise charges for something already received from
outside the EU ?

[ARAF]

rich24v said:

Is there a time limit for customs to raise charges for something already received from
outside the EU ?

No. However, parcel companies will pay charges when the goods are imported, and will want to recoup that money as soon as possible. If you haven't been billed within a couple of weeks of the goods arriving, then chances are you won't be.