UK importing laws

[Kevin O'Brien]

I was wondering if anyone had any information or prior experience on the laws of importing Rolex watches into the UK? I know there’s an import tax but I couldn’t find any information on a limit on the number of watches that can be brought in at a time. I’m aware of a one watch policy when it comes to bringing watches into America but I’m not sure if this goes both ways. So basically I’m wondering, what’s the import tax, is there a watch limit, and how strictly is it enforced? Thanks!

[Devildog]

No limit. You’d have to pay VAT and probably duty as well on multiples.


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[REFZ]

Check the website of the tax office to be sure about import duties but I think there is no limit on the amount of watches and you probably have to pay vat on the total value of the watches of you buy them out of the EU.

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[mercman]

No limit on the amount, you will have to pay VAT and Import Duty on the total value including the shipping. Mr Tax man may be interested if you are bringing in more than an individual would be expected to import for personal use.

[DPE]

Do you mean a personal import as a resident of the UK ? Or You Importing Rolex into the UK as a business future transaction ? Worth finding out if there is a difference and charges

[Kevin O'Brien]

Thanks for all the info. From what I have found the tax is around 6% for personal and I think the full amount (20%) for business. Couldn’t find anything on a limit so I’ll assume no limit. I would think they would make it a bit more simple considering the amount of revenue collected by us watch collectors. When I went through Birmingham this week there was nobody even collecting tax at the customs office.

[AK797]

Originally Posted by Kevin O'Brien

Thanks for all the info. From what I have found the tax is around 6% for personal and I think the full amount (20%) for business. Couldn’t find anything on a limit so I’ll assume no limit. I would think they would make it a bit more simple considering the amount of revenue collected by us watch collectors. When I went through Birmingham this week there was nobody even collecting tax at the customs office.

Into the UK is 20% VAT plus 1% for other minor charges on any item over £20. Not 6%.

[Nairn1980]

Originally Posted by AK797

Into the UK is 20% VAT plus 1% for other minor charges on any item over £20. Not 6%.

Correct!!

[Ad11wrd]

Originally Posted by AK797

Into the UK is 20% VAT plus 1% for other minor charges on any item over £20. Not 6%.

It’s not a cheap option importing unless it’s a watch you can’t obtain in the UK.

[strafer_kid]

Originally Posted by Nairn1980

Correct!!

So if you pay full list price for the watch overseas and you have not got it cheaper than you would have back in the U.K, do you still have to pay VAT and import duty when bringing it into the U.K.? Surely in paying the full amount albeit outside the U.K., there is no gain or advantage as such?

[tyler1980]

Originally Posted by strafer_kid

So if you pay full list price for the watch overseas and you have not got it cheaper than you would have back in the U.K, do you still have to pay VAT and import duty when bringing it into the U.K.? Surely in paying the full amount albeit outside the U.K., there is no gain or advantage as such?

correct, no advantage plus with the pound value you are paying more GBP to buy the watch in the first place overseas vs local currency in the UK as other currencies are stronger. You would be in the hole.

[Flier]

You would pay VAT and import charges but you should not pay vat in the other country taking into consideration that these two countries are not EU etc but there are ways if you own a company with an EU VAT number to buy within the EU and not pay the VAT or pay a reduced figure

[MonBK]

Originally Posted by strafer_kid

So if you pay full list price for the watch overseas and you have not got it cheaper than you would have back in the U.K, do you still have to pay VAT and import duty when bringing it into the U.K.? Surely in paying the full amount albeit outside the U.K., there is no gain or advantage as such?

Even if you pay more then it would cost in the UK you'd pay.

[strafer_kid]

That's interesting guys- I have never bought outside the UK so never really was across the detail of this. I had thought that VAT etc was paid on bringing items into the UK to even out or negate any advantage a person had obtained by buying the items cheaper outside the UK. Did not realise until now that VAT and import duty are applicable regardless of price you paid. Think I will just stick with UK purchases. Seems a whole lot simpler. Thanks

[Devildog]

Originally Posted by strafer_kid

That's interesting guys- I have never bought outside the UK so never really was across the detail of this. I had thought that VAT etc was paid on bringing items into the UK to even out or negate any advantage a person had obtained by buying the items cheaper outside the UK. Did not realise until now that VAT and import duty are applicable regardless of price you paid. Think I will just stick with UK purchases. Seems a whole lot simpler. Thanks

It does seem unfair but the VAT is simply a tax on purchases. Whether bought in the UK or imported from outwith the EU (as other EU purchases will already have had VAT charged in the country of purchase)

VAT free purchases of course require VAT to be charged irrespective of the country of purchase.

Even with the VAT we still “won” when the £ was strong. Now it’s so weak it’s a double hit

[Nairn1980]

Originally Posted by strafer_kid

That's interesting guys- I have never bought outside the UK so never really was across the detail of this. I had thought that VAT etc was paid on bringing items into the UK to even out or negate any advantage a person had obtained by buying the items cheaper outside the UK. Did not realise until now that VAT and import duty are applicable regardless of price you paid. Think I will just stick with UK purchases. Seems a whole lot simpler. Thanks

Stick to UK purchases for sure.
I priced a HULK in the USA in summer.

Uk list is £6,600.

Price inc state tax and at current exchange rate was £7,700..... then add your VAT ON £7,700 and you’ve got the most expensive hulk on the planet

[AK797]

It was worth paying more overall from say the US or Caribbean because of availability, but not the case any more.

[SeaDweller50]

Originally Posted by Nairn1980

Stick to UK purchases for sure.
I priced a HULK in the USA in summer.

Uk list is £6,600.

Price inc state tax and at current exchange rate was £7,700..... then add your VAT ON £7,700 and you’ve got the most expensive hulk on the planet

Wouldn’t you be exempt paying local tax in the US though? And then pay the tax upon re entry into the EU?