U.K. VAT reclaim changes

[scooba]

Good Morning ,

May I ask some advice

I was talking with my AD yesterday who said he had been made aware off some VAT changes from some point next year any VAT reclaim item would need to be handed in at HMRC and had to be posted to the international address where the refund was being applied .ie China,Russia,Thailand is this a new U.K. rule post Brexit or just a rumour .

TIA

[dmash]

Originally Posted by scooba

Good Morning ,

May I ask some advice

I was talking with my AD yesterday who said he had been made aware off some VAT changes from some point next year any VAT reclaim item would need to be handed in at HMRC and had to be posted to the international address where the refund was being applied .ie China,Russia,Thailand is this a new U.K. rule post Brexit or just a rumour .

TIA

What? Are you saying the refund needs to be posted or the item needs to be posted. I haven’t heard of this

[grimps]

https://www.forbes.com/sites/kevinro.../#216c07ad15a9

Could be the end of the tax free shopping for touristS in the UK

[dmash]

Originally Posted by grimps

https://www.forbes.com/sites/kevinro.../#216c07ad15a9

Could be the end of the tax free shopping for touristS in the UK

I say this not as exaggeration, that is absolutely insane. WTF is your government thinking???????!!!!! No Asian tourists will utilize U.K. as a shopping destination anymore when they can shoot to France/Italy or other EU destinations instead to get around 12-15% back. Practically all major tourist countries have tax back schemes for foreign visitors, I don’t understand UK’s angle on this.

[grimps]

Originally Posted by dmash

I say this not as exaggeration, that is absolutely insane. WTF is your government thinking???????!!!!! No Asian tourists will utilize U.K. as a shopping destination anymore when they can shoot to France/Italy or other EU destinations instead to get around 12-15% back. Practically all major tourist countries have tax back schemes for foreign visitors, I don’t understand UK’s angle on this.

Yeah I was thinking the same , I read that the government said that it was only really benefitting London and not the rest of the country , I have a feeling that once the retailers and hotels ect put some pressure on it might be overturned

[dmash]

Originally Posted by grimps

Yeah I was thinking the same , I read that the government said that it was only really benefitting London and not the rest of the country , I have a feeling that once the retailers and hotels ect put some pressure on it might be overturned

My wife is Asian and I know for a fact her and practically every one of her friends sometimes coordinate trips to coincide with shopping if it’s a tax free country. I keep mentioning Asian as if I’m pretty certain Asian tourists make up the majority of tourist based shopping in the EU/UK, especially in the luxury sector.

This could have an incredible (negative) effect on UK’s economy in my opinion. It makes up what, 10% of your GDP? Seriously a wild policy change, I just fail to understand the logic.

[VogelPhoenix]

Well, looking at the bright side, that should greatly improve Rolex supply for local customers.

[Sandpit]

I'm wondering if the vat changes are a big two fingers up to the EU. If they maintained the law it's likely that our european cousins would take advantage of this and it may be that it then effects more things than just luxury goods (think cars, materials etc).

I can't see it being enforceable whereby they say it's fine for the middle eastern money to be spent but not european.

[Steed]

The same law removes airport tax free purchases which previously applied to outside of EU flights. So no more tax free Rolex/Chanel/Louis Vuitton etc. purchases at Heathrow T3/T5.


Sent from my iPad using Tapatalk

[dmash]

Originally Posted by Steed

The same law removes airport tax free purchases which previously applied to outside of EU flights. So no more tax free Rolex/Chanel/Louis Vuitton etc. purchases at Heathrow T3/T5.


Sent from my iPad using Tapatalk

Yup, they really don’t understand how many people buy this stuff (or maybe they do). Again, I just don’t see how they think this will improve economic situation with the amount of tourists who may change plans once this news surfaces more publicly.

[mongrelnomoad]

Originally Posted by dmash

I say this not as exaggeration, that is absolutely insane. WTF is your government thinking???????!!!!! No Asian tourists will utilize U.K. as a shopping destination anymore when they can shoot to France/Italy or other EU destinations instead to get around 12-15% back. Practically all major tourist countries have tax back schemes for foreign visitors, I don’t understand UK’s angle on this.

Yes, it's insanity, but sadly in keeping. Insanity has, again and again, been proven the umbrella policy principle of this government.