Buying abroad vs UK

[M4Mat]

Long time reader of this forum, but mainly post on M3cutters, better advice here for this subject matter I thought however

I am in a position where I can just about justify a purchase of an Audemars Piquet watch, something I have wanted a long time, I am off to Switzerland in a couple weeks and from looking at the exchange rate the price to buy in Swiss Dollars vs GBP comes out at £2250 cheaper, which is quite a saving.

Should be no issue with Warranty from what I can tell, as long as it is bought from an authorised dealer, which it will. Just wondered if anyone has ever done something similar?

Customs is a concern, but if i'm wearing it they can't prove it was bought out there, it does have an official box which I might have to hide perhaps in luggage

Thanks

Mat

[franki68]

M4Mat said:

Long time reader of this forum, but mainly post on M3cutters, better advice here for this subject matter I thought however

I am in a position where I can just about justify a purchase of an Audemars Piquet watch, something I have wanted a long time, I am off to Switzerland in a couple weeks and from looking at the exchange rate the price to buy in Swiss Dollars vs GBP comes out at £2250 cheaper, which is quite a saving.

Should be no issue with Warranty from what I can tell, as long as it is bought from an authorised dealer, which it will. Just wondered if anyone has ever done something similar?

Customs is a concern, but if i'm wearing it they can't prove it was bought out there, it does have an official box which I might have to hide perhaps in luggage

Thanks

Mat

I’m not sure customs have to prove anything ,you do.
Some friends story..she buys him a Rolex in UK ,he travels to Far East a lot .One day he gets pulled by customs and they ask him about the watch ,he explains but they don’t accept explanation and take the watch off him asking for taxes to be paid or for him to prove where he bought it .
Obviously he did and he then asked for a letter from customs confirming everything so he didn’t encounter the issue again.

On the other hand I always bought my watches in the Far East and have never been stopped .

[Mr Pointy]

New poster - check
First post with contentious content (proposing evading paying VAT) - check

Troll

[M4Mat]

I'm paying VAT in the place I bought it. Same as someone who goes abroad and spends money in the economy over there.. It's just cheaper because of the exchange rate, and less shipping costs most likely to

[Lorne]

You can actually get a Swiss tax refund at Geneva airport (assuming the desk in departures is open), but then you have to pay 20% VAT and I think 4% import tax once you get to the UK.

A lot of people ask about buying overseas to avoid UK taxes, but is it really worth it? You'll always be worried everytime you go through customs with your watch on and I'm sure the customs people can spot that little nervousness so are likely to pull you and confiscate your watch and all those extra cigs you've bought.

Anyway, with their IT surveillance ability, they've probably clocked your real name and have put it on a list of people to stop and search.

PS Swiss Franc, not Swiss Dollar

[Wills2]

If you can get the VAT refund in Switzerland then do that and pay the UK VAT and 4% duty on entry, that way you'll still be ahead but won't run the risk of losing the watch.

[Mr Pointy]

There's no duty payable on bringing a watch in (well to be strictly accurate it's about €0.87 so below the threshold for collection) but there is 20% VAT payable.

You'd be wise not to pay by credit card...

[lostkiwi]

Mr Pointy said:

There's no duty payable on bringing a watch in (well to be strictly accurate it's about €0.87 so below the threshold for collection) but there is 20% VAT payable.

You'd be wise not to pay by credit card...

If he's going to pay the vat he'd be wise to pay by credit card. If he's going to try and avoid vat wise not to.

[Mr Pointy]

lostkiwi said:

Mr Pointy said:

There's no duty payable on bringing a watch in (well to be strictly accurate it's about €0.87 so below the threshold for collection) but there is 20% VAT payable.

You'd be wise not to pay by credit card...

If he's going to pay the vat he'd be wise to pay by credit card. If he's going to try and avoid vat wise not to.

True. A better summation.

[craigjm]

Lorne said:

You'll always be worried everytime you go through customs with your watch

Really? I know the point you’re trying to make but to suggest for years on end there is a possibility you will be pulled and asked to explain the origin of anything you are wearing is absurd

[anonymous-user]

craigjm said:

Lorne said:

You'll always be worried everytime you go through customs with your watch

Really? I know the point you’re trying to make but to suggest for years on end there is a possibility you will be pulled and asked to explain the origin of anything you are wearing is absurd

Quite right. I’ve travelled all over the planet for the last 30 years wearing expensive watches. I’ve never seen so much as a glance at them by customs or anyone else, let alone had it mentioned.

[GT03ROB]

REALIST123 said:

craigjm said:

Lorne said:

You'll always be worried everytime you go through customs with your watch

Really? I know the point you’re trying to make but to suggest for years on end there is a possibility you will be pulled and asked to explain the origin of anything you are wearing is absurd

Quite right. I’ve travelled all over the planet for the last 30 years wearing expensive watches. I’ve never seen so much as a glance at them by customs or anyone else, let alone had it mentioned.

Unless they have a reason other than you are wearing an expensive watch they won't. Think how many people come through customs wearing them daily, do they all get a pull? Got stopped coming through Gatwick last year, wife & myself both wearing expensive watches of the type people may buy abroad. Couple of questions on where have we been & did we live there, while he flicked through my passport, thank you & goodbye.

[anonymous-user]

Just wear the watch and post the box back. Easy.

[bobbybee]

Yay!

Tax evasion tips online in an open forum, so, so smart.

[craigjm]

bobbybee said:

Yay!

Tax evasion tips online in an open forum, so, so smart.

So he buys the watch in Switzerland and starts to wear it. He doesn’t try and reclaim the vat when he leaves that country and then flies into the U.K. wearing said item. What tax has he evaded?

[Lorne]

craigjm said:

bobbybee said:

Yay!

Tax evasion tips online in an open forum, so, so smart.

So he buys the watch in Switzerland and starts to wear it. He doesn’t try and reclaim the vat when he leaves that country and then flies into the U.K. wearing said item. What tax has he evaded?

He's evaded UK import tax and VAT, knowingly evaded them since as bobbybee points out, he's asked about it on an open forum. Doesn't matter that he failed to reclaim Swiss taxes when he left that country.

[lostkiwi]

Lorne said:

craigjm said:

bobbybee said:

Yay!

Tax evasion tips online in an open forum, so, so smart.

So he buys the watch in Switzerland and starts to wear it. He doesn’t try and reclaim the vat when he leaves that country and then flies into the U.K. wearing said item. What tax has he evaded?

He's evaded UK import tax and VAT, knowingly evaded them since as bobbybee points out, he's asked about it on an open forum. Doesn't matter that he failed to reclaim Swiss taxes when he left that country.

If Switzerland were in the EU no problem, but it's not. If you buy in France, Germany, Belgium, Italy etc no taxes to pay when entering the UK.

[craigjm]

lostkiwi said:

If Switzerland were in the EU no problem, but it's not. If you buy in France, Germany, Belgium, Italy etc no taxes to pay when entering the UK.

Yes that’s fair enough as they are not in the customs union

[lostkiwi]

craigjm said:

lostkiwi said:

If Switzerland were in the EU no problem, but it's not. If you buy in France, Germany, Belgium, Italy etc no taxes to pay when entering the UK.

Yes that’s fair enough as they are not in the customs union

All changes after 31st October (apparently).

[craigjm]

lostkiwi said:

craigjm said:

lostkiwi said:

If Switzerland were in the EU no problem, but it's not. If you buy in France, Germany, Belgium, Italy etc no taxes to pay when entering the UK.

Yes that’s fair enough as they are not in the customs union

All changes after 31st October (apparently).

Switzerland are joining the customs union?