US Tax

[Ultra Violent]

If I buy a second hand watch from the US, what tax am I liable to pay?

[phumy]

Ultra Violent said:

If I buy a second hand watch from the US, what tax am I liable to pay?

If you are in the States and buy the watch, put it on your wrist and come through customs, you wont pay anything.

If you have it sent by postage to the UK then it will have to be declared, they will assess its value and charge duty accordingly. You have an allowance of, i think about 145GBP duty free, after that they will hit you.

[Seb d]

Funnily enough, I was just looking into this today. There's a thread on TZ-UK with some useful hints on how to label packages to avoid them being stolen, such as describing a watch as "used horological equipment," or labelling it as "used medical equipment," which they reckoned was viable if someone has measured their pulse with it and then not only is the item not subject to any form of tax, there's almost no chance of it being opened and investigated due to the risk of contamination etc. I was just on the phone to HM Customs and the import duty on a watch is 17.5% plus some bizarre additional rate which I didn't quite get but which isn't very much.

[jimmyjimjim]

You'd be better off just posting the box and papers home and not worrying about it.

[205lad]

jimmyjimjim said:

You'd be better off just posting the box and papers home and not worrying about it.

If of course you don't mind committing a crime and robbing the rest of us.

[voyds9]

205lad said:

jimmyjimjim said:

You'd be better off just posting the box and papers home and not worrying about it.

If of course you don't mind committing a crime and robbing the rest of us.

I'd rather have it in OP's pocket than supporting Waynetta's MacDonalds addiction.

[205lad]

voyds9 said:

205lad said:

jimmyjimjim said:

You'd be better off just posting the box and papers home and not worrying about it.

If of course you don't mind committing a crime and robbing the rest of us.

I'd rather have it in OP's pocket than supporting Waynetta's MacDonalds addiction.

I don't want to get into an argument but if you're advocating ripping of the taxpayer then I cannot agree with that viewpoint.

[citychap26]

Hi,

Actually I was in NY last weekend and looked at a seriously over priced Daytona. They wanted $17k plus 8.735% in tax. The only good thing is that they were giving me full value on my Sub on trade in.

Cheers

Sunil

[Dominic H]

citychap26 said:

Hi,

Actually I was in NY last weekend and looked at a seriously over priced Daytona. They wanted $17k plus 8.735% in tax. The only good thing is that they were giving me full value on my Sub on trade in.

Cheers

Sunil

That's a shocker they want £10k (at todays rate inc sales tax) and they'll give you £3k back for yours (assuming it's a 16610), that leaves a diff of £7k. You can find Daytona at £6500 in London, and still have the Sub!
Don't forget you'll still have duty and VAT to pay on your US Daytona.....Gets worse by the minute.