Import Tax

[rushdriver]

Hi all,

I was wondering if you could help me? I wish to import some Sony laptops and whilst the cost saving is pretty good I need to know how much import tax I will have to pay. I have had a dig around the net but have not come up with anything to help me.

So I thought I would turn to the oracle that is P'Heads!

Cheers

John

[eric mc]

Whilst not knowing the exact rates of import DUTY, there will probably be an additional VAT amount to pay as well. The VAT is calculated by converting the foreign currency value of the goods to sterling and then multiplying by 17.5 %. If you are a VAT registered trader, you will be able to claim this VAT back as Input VAT. You cannot claim back the Import Duties.

[Davel]

Any doubts ask the VAT Office, they are normally pretty helpful.

[eric mc]

See my point in the thread in "Virtual Imports". Relying on telephone advice from the VAT Office will not stand up in court.

[ninja_eli]

Look up the commodity code in the nomenclature. Then you can ask HMCE to fax you the duty rates. As has been said before, you will need to add VAT to the cost price AFTER duty has been applied (i.e. cost x 1+rate of duty x 1+17.5% (VAT)).

Remember too, that if shipping is not included in the cost price (i.e. price is not CIF/CNF), customs will include the freight charge in the calculations for duty + VAT.

You can call customs and ask them for a copy of the nomenclature.

[viper]

import duty is 10% (on cars, carparts anyway) make sure the people send the correct paperwork, I've brought from the USA and had to pay customs storage rates for a few days while the correct paperwork was sorted, and that isn't cheap

>> Edited by viper on Thursday 3rd July 08:44