Buying a watch in the EU

[Deep]

I think I may have made a very big mistake...

I'm abroad in the EU and was enticed to buy a watch because the outlet said I could claim the 17.5% back.

The rrp was actually slightly higher here because of euro/£ and currency charges but the 17.5% back would have more than made up for that.

Will I be liable to pay VAT when I arrive back in the UK?

Thanks

[anonymous-user]

Why don't you just do what everyone else does, and simply not declare the watch as you enter the UK?

Wear the watch on your wrist, and post the box back to yourself while you are still out of the UK (if you are keeping the box).

I'm not exactly criminal of the century, but has never crossed my mind to declare anything I have purchased in places such as the US when entering the UK. I have bought watches, clothing, tech, jewellery for the wife, and other stuff.

[Deep]

Lord Marylebone said:

Why don't you just do what everyone else does, and simply not declare the watch as you enter the UK?

Wear the watch on your wrist, and post the box back to yourself while you are still out of the UK (if you are keeping the box).

I'm not exactly criminal of the century, but has never crossed my mind to declare anything I have purchased in places such as the US when entering the UK. I have bought watches, clothing, tech, jewellery for the wife, and other stuff.

Hi mate

I would like to understand the rules just so that I know what I'm dealing with.

When I google it I find lots of stuff saying that post Brexit UK citizens can claim the vat back when travelling and purchasing in the EU.
But I can't find anything on what the implications are when you arrive back in the UK.

Thanks

Edited by Deep on Tuesday 17th August 08:04

[Deep]

Anybody?

[CharlesdeGaulle]

I'm no expert, but post brexit things have been pretty st. You'll be paying tax anyway, either EU or UK. In my experience, probably both.
Thanks Nige and the acolytes.

[InitialDave]

How much is the watch? What it's the country's policy on tax rebates for tourists?

I've bought items abroad, not paid local tax, and brought them home without paying tax either, as they were below my customs allowance.

[Deep]

InitialDave said:

How much is the watch? What it's the country's policy on tax rebates for tourists?

I've bought items abroad, not paid local tax, and brought them home without paying tax either, as they were below my customs allowance.

Hi
Watch value is £10k. My question is whether there is some kind of communication between the EU country and the UK which means I will get a bill through the post.

Thanks

Edited by Deep on Tuesday 17th August 08:04

[InitialDave]

I doubt there is such a thing, but either way, make sure you get the original sales tax back, or if such a communication were to exist, you'd be paying both.

So have you confirmed how to do that, and how much you get back?

[Deep]

InitialDave said:

I doubt there is such a thing, but either way, make sure you get the original sales tax back, or if such a communication were to exist, you'd be paying both.

So have you confirmed how to do that, and how much you get back?

Hi
The dealer has given me very clear instructions about what to do to claim the EU vat back, it's circa 20%. The dealer is a reputable one so I have some confidence in what they are telling me.
As I said, my uncertainty is how things work when I get back to the UK.
Thank you

[Ninjin]

You just walk through the green channel without breaking into a sweat and looking like you trying to bring in high value item tax free.

If you get caught, you will be charged the VAT and Duty applicable on the item.

If you get caught it may end up more than buying locally in the UK. If you don't get caught, which is the most common outcome, then it's a win for your wallet.

[silentbrown]

Deep said:

Hi
The dealer has given me very clear instructions about what to do to claim the EU vat back, it's circa 20%. The dealer is a reputable one so I have some confidence in what they are telling me.
As I said, my uncertainty is how things work when I get back to the UK.
Thank you

Legally? You declare it at UK customs on entry, pay UK VAT at 20% plus any duty (I think there's zero duty on watches, but this may be wrong...)

[silentbrown]

Ninjin said:

If you get caught it may end up more than buying locally in the UK. If you don't get caught, which is the most common outcome, then it's a win for your wallet.

Even if you don't get caught then, you'll be extra sweaty every time you go through customs with it in future.

[the tribester]

You are the importer of the watch into the UK from the EU. You are liable to pay import duty and UK VAT on your imported goods. You can then claim the 20% EU VAT back from the EU.
You'll be much worse off doing that.

[Deep]

Thank you guys.

Edited by Deep on Tuesday 17th August 08:06

[troc]

I would post the box separately. Also the receipts.

[Deep]

On a slightly different note any of you able to help with this?
The price of the watch was €11550. On the day I paid for it the €/£ meant it should have equated to circa £9700. However when I popped my card in the machine it gave me two options, to pay €11550 or £10100. I tried another card and that also gave the same two numbers.
Anyway I decided to pay in £.

I can't figure out where that extra £400 (£10100-£9700) has come from.
Surely the card charges can't be that high?

Cheers

Edited by Deep on Sunday 15th August 08:42

Edited by Deep on Tuesday 17th August 08:07

[greygoose]

You should have chosen to pay with euros as they always give a crap exchange rate if you chose to pay with pounds abroad.

[Mr Pointy]

1) You should pay 20% VAT on import. You may well find HMRC have links to your credit card acount so don't be surprised if you get pinged at some point.

2) There is duty on watches but it something like 0.8€ so below the collection level.

3) You chould always pay in local currency & let the CC company do the currency conversion. They will give you much better rates than the local processor, as you have found out.

[CharlesElliott]

Deep said:

Thank you guys.

On a slightly different note any of you able to help with this?
The price of the watch was €11550. On the day I paid for it the €/£ meant it should have equated to circa £9700. However when I popped my card in the machine it gave me two options, to pay €11550 or £10100. I tried another card and that also gave the same two numbers.
Anyway I decided to pay in £.

I can't figure out where that extra £400 (£10100-£9700) has come from.
Surely the card charges can't be that high?

Cheers

Surely they can / are! Paying in EUR would have been better, although if you weren't using a card with decent foreign exchange rates, you still would have ended up paying a decent surcharge......although not as much as the £400. In this case it would have been the shop's payment provider (the one that provides the card terminal) applying the charge. It then charged your card in GBP, so your card provider knew no different, it was just a GBP payment to them.

Edited by CharlesElliott on Sunday 15th August 08:45

[Camelot1971]

Deep said:

Thank you guys. It's occurred to me that I might have an easier solution for the box. My wife is wearing a watch of the same brand which is about 5 years old. I could pack the box and if they find the box just say that it belongs to my wife's watch...?

On a slightly different note any of you able to help with this?
The price of the watch was €11550. On the day I paid for it the €/£ meant it should have equated to circa £9700. However when I popped my card in the machine it gave me two options, to pay €11550 or £10100. I tried another card and that also gave the same two numbers.
Anyway I decided to pay in £.

I can't figure out where that extra £400 (£10100-£9700) has come from.
Surely the card charges can't be that high?

Cheers

Edited by Deep on Sunday 15th August 08:42

Yeah, lying to customs officers if you get stopped. That always ends well.

Btw, the retailer set the exchange rate and made a nice extra profit from you.