Import tax - Totally boggled!

[Spudded]

Hi,

I am going to be sourcing small orders of sterling silver jewellery from USA. there will be between 5-25 items in each parcel costing me £100-£700.

I am not VAT registered but am a Limited Company.

The thing is I have no idea how to pay or organise my import tax. I simply can't get my head around it! Everybody I have spoken to at HMRC seems to give me conflicting information!

Please can anybody give me advice on this pleae!

 

[GraemeL]

Hello Spudded,

I think this is the answer, but in the back of my my I am thinking that there are some special VAT rules for gold, so would silver have something similar.

You will pay VAT at 20%
You will pay an Import Tax. This is a % of the value of the goods (plus freight and insurance). Look for the Tariff of the items on here

http://customs.hmrc.gov.uk/channels...yType=document&resetCT=true&id=HMCE_CL_001196

I think its 2.5% from USA.

My guess is that you will be using DHL or similar for freight? I would think that they will notify you of the parcel's arrival in the UK and will tell you how much you have to pay them for IT and VAT before they will release the parcel to you.

If in any doubt, I suggest you use a UK based Freight Forwarder to arrange the freight for you - they will also deal with your questions on how to pay taxes. I would always use one.

G

G

 

[allodito]

what about jewellery retail .
what if we were to import gold jewellery from the middle east
how much of vat , tarrifs we would pay
thank you

 

[GraemeL]

what about jewellery retail .
what if we were to import gold jewellery from the middle east
how much of vat , tarrifs we would pay
thank you

Gold is special.

Try this:-

http://customs.hmrc.gov.uk/channels...ntent&id=HMCE_CL_000104&propertyType=document


G