HM Customs...and importing?

[Knight]

How much as a general rule should I add on to the cost of inports from the USA to account for the VAT added at customs?

Thanks
K

[consultant]

15%!!!!! If the item is not excempt or 0 rated.

VAT is VAT.

Duty is a different matter and depends on the items.

[stevemcqueen]

15%!!!!! If the item is not excempt or 0 rated.

VAT is VAT.

Duty is a different matter and depends on the items.


i was going to say 17.5 %. i have got used to it being that number for years

[Kevin Hall]

... all assuming you are not VAT registered, Mr Knight.

If you are (or wish to voluntarily be) UK VAT registered, you can reclaim all the Import VAT on your next VAT return, using the C79 Certificate you should receive by post after importation. In that case, you would not add the VAT to your purchase price for budgetary purposes, as the net result is "VAT neutral".

[mrRed]

Yeah 15% is right.

Although i gather this is only a temporary thing to get consumers to spend more so not sure when it will be going back up again.

[Knight]

If I am only importing a small amount of my stock from the USA is it worth registering for VAT?

If I don't register then I add 15% onto the wholesale price, I think there is a processing cost of about £13 isn't there and then I add duty? If my products are worth about £100 - £150 who much roughly would I be looking at for duty?

I am clueless!!

Thanks

[JTSystems]

Right search the databases to find the amount of duty, more often than not it is 5%,
plus the VAT which is 15% at the moment.

You must keep a log of all the purchases as the tax man could come knocking.

If you do not wish the reclaim the VAT then you have no need to charge it as an extra, as you have already paid it.

If you are not VAT registered you can get a pseudo turn - essentially a tempory VAT number so if you wish to be VAT registered you can claim it back in the future (Note there is a time period, but I am not too sure how long this is, try google)

There is usuallly handling charges and custom charges which you need to be aware of, call your supplier find out the details of your product, find out what courier company you/they will be using and ask them what port it will be going to and what charges to be aware of.

It does vary, and I have been stung in the past.

[Kevin Hall]

I am not as involved in Import Duty. However, HMRC have a team to help you settle what the code is for the goods you are importing and will then look up the Duty rate for you. But you need to know your product in detail. One officer asked me the sulphur content of some fuel, another was asking if the dyes were "basic" or not. I had no idea and had to revert to the client. But you merely need to call HMRC's National Advice Service and they will direct you from there.

No, it does not sound worthwhile registering for VAT unless your sales would be zero-rated for VAT (e.g. non-UK business customers, supplies of food, etc.). I assume you are trying to budget a project, or price a quote: if you are not VAT registered, you will have the 15% Import VAT as a cost (as well as all the Duties and other costs).

Good luck!