Importing something to the UK tax efficiently...
Discussion
Was not sure which section to post this in but this one seems best!
Nothing to do with business, but I am building a sailing boat and I need to import some carbon fibre tube and some boat components into the UK from New Zealand, about £1400 worth.
Apparently, it's hit or miss when it comes to this type of thing, for example someone Iknow who did something similar a while ago says that if you import "sails" you pay tax on them, if it's "sailcloth" ot "tarpaulin" you don't. Apparently it's critical what is actually writeen down on the paperwork.
I need to import lengths of carbon fibre tube, a daggerboard (like a smal keel for a dinghy, again carbon fibre) and some bits of rigging (boom and spreaders). Can anyone give me any tips on what to get written on the ticket to minimise tax?
Thanks in advance!
Nothing to do with business, but I am building a sailing boat and I need to import some carbon fibre tube and some boat components into the UK from New Zealand, about £1400 worth.
Apparently, it's hit or miss when it comes to this type of thing, for example someone Iknow who did something similar a while ago says that if you import "sails" you pay tax on them, if it's "sailcloth" ot "tarpaulin" you don't. Apparently it's critical what is actually writeen down on the paperwork.
I need to import lengths of carbon fibre tube, a daggerboard (like a smal keel for a dinghy, again carbon fibre) and some bits of rigging (boom and spreaders). Can anyone give me any tips on what to get written on the ticket to minimise tax?
Thanks in advance!
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