olive oil from turkey

[mgfabs]

1.000 x 200cc bottles of olive oil on the way from turkey and i got a invoice of £1.000 to show on uk custom. also im not a VAT register. i have set up a company business account also accounting i got place to stock them i got all my customers ready i will sale it direct to cash and carrys.

but

how much is vat on custom?

fees?

what is insurance for?

im little bit new to this guys can someone please give me some advise? please dont tell me to google it. i got more confused when i google it.

thanks

 

[Joetann]

Sorry I don't mean to sound rude, and i don't have the answer to your question... But I do think you should find all this out before you order.

Good luck

 

[mgfabs]

Sorry I don't mean to sound rude, and i don't have the answer to your question... But I do think you should find all this out before you order.

Good luck

thanks for reply. i havent place my order or anything but i meant everythings set up so far just need to find out bout the fees and vat b4 we go ahead thats all.

 

[dagr]

1. You will have to pay Customs VAT and possibly duty before you can get your hands on the goods. Duty varies from 0% to a few % and you cannot claim it back. If you are not VAT registered, then you cannot claim back the VAT either, which is now 17.5%. Duty depends on the actual goods. Go to the HMRC website to find out, although the terms they use make it a bit challenging working out how your goods are classified.

2. Not sure what you mean by "fees". Do you mean freight (transport) costs to the UK? If not, it is probably the freighter's fees for handling the paperwork with Customs, etc. You can deal with Customs yourself for some of this work, but it's probably not worth it unless you're doing it on a regular basis. Handling fees could be anywhere from £25 to £125 (just guessing here).

3. By "insurance", I assume you mean freight insurance; that is, compensation in case your goods go missing or get damaged.

 

[mgfabs]

1. You will have to pay Customs VAT and possibly duty before you can get your hands on the goods. Duty varies from 0% to a few % and you cannot claim it back. If you are not VAT registered, then you cannot claim back the VAT either, which is now 17.5%. Duty depends on the actual goods. Go to the HMRC website to find out, although the terms they use make it a bit challenging working out how your goods are classified.

2. Not sure what you mean by "fees". Do you mean freight (transport) costs to the UK? If not, it is probably the freighter's fees for handling the paperwork with Customs, etc. You can deal with Customs yourself for some of this work, but it's probably not worth it unless you're doing it on a regular basis. Handling fees could be anywhere from £25 to £125 (just guessing here).

3. By "insurance", I assume you mean freight insurance; that is, compensation in case your goods go missing or get damaged.

very helpfull thanks

im not trying to be cheeky but who is gonna name (£) my items on custom when arrived in uk? it may cost me £1.000 but i can set up a invoice for £250 ? so then im gonna pay vat/duty on £250 ?

 

[MikeJ]

You can get a freight company to deliver the goods delivered duty paid (DDP). If the Turks are arranging for the shipping, then ask them to do that. Then all you need to do is be in, they pay for everything. Obviously they'll charge you, but it'll be simpler.

If they're not shipping, then get someone that will collect the goods and bring them to your door. In general, there's experts out there that can do this. Concentrate on selling the oil, you're not a shipping company.

 

[jamesk67]

pls get me some bottles for free..lol

 

[dagr]

very helpfull thanks

im not trying to be cheeky but who is gonna name (£) my items on custom when arrived in uk? it may cost me £1.000 but i can set up a invoice for £250 ? so then im gonna pay vat/duty on £250 ?

If the duty isn't 0% or if you're not VAT registered, then doing the above (by paying supplier £750 in cash I assume, nod nod, wink wink) puts you in the Black market. HMRC may find you out.

 

[PhilBB]

The EU and Turkey operate customs union. This means many goods which originate in Turkey enter the EU duty free.

So you have to check whether olive oil is one of the products which benefits from such treatment.

Note that "originate" for customs purposes does not mean where goods are shipped from. For agricultural products it means where grown, harvested, bottled etc.

best regards
Phil

 

[Christine Hough]

I read this late at night the other day and spent several minutes working out how you could get olive oil from a turkey!

Guess I must have overdosed at Christmas!

Perhaps a capital letter would have helped??

 

[mgfabs]

The EU and Turkey operate customs union. This means many goods which originate in Turkey enter the EU duty free.

So you have to check whether olive oil is one of the products which benefits from such treatment.

Note that "originate" for customs purposes does not mean where goods are shipped from. For agricultural products it means where grown, harvested, bottled etc.

best regards
Phil

very helpfull. thank u lots

 

[mgfabs]

I read this late at night the other day and spent several minutes working out how you could get olive oil from a turkey!

Guess I must have overdosed at Christmas!

Perhaps a capital letter would have helped??

well i spent several HOURS working out how to get people to understand what i exactly mean on my thread and still no idea. yes i was overdosed!!!! and it takes bit longer than normal

 

[Christine Hough]

I think we got there in the end! So hope it has been helpful.. others know more about this than I do though!

Best with it.

 

[55tolga16]

hi I want to know that where do you buy product ? what is your real cost ? Did you pay 1000£ for 1000x200cc bottles. I am from Turkey and I live in 3 weeks in UK 2 weeks in Turkey. I am startinf to exportximport activities ı will be help you best qualit best price.