Buying S/H from abroad

Chris L

Chris L

Suspended / Banned
Messages
931
Name
Christian
Edit My Images
No
With the $ to £ exchange rate currently running at around 2:1 I've been wondering about some of the secondhand kit advertised on some forums. The most recent was an 85 f/1.2L in very good condition with just a small scuff mark on the body, being sold by a well respected forum member with plenty of very good feedback. The lens was advertised at $1175 which worked out at £575 using a holiday makers exchange rate convertor rather than a stock exhange figure to give a more realistic conversion (Plus shipping costs obviously!)

My questions are, what could I expect to pay with regards to taxes/duty? Would I have to pay VAT on it and what rate would the duty be charged at? If I were to buy a secondhand car in the uk from my next door neighbour I'd not have to pay any VAT. Is it the same when buying secondhand items from private individuals outside the UK?
 
Chris

You will pay the following if "caught by customs"

Price of good + price of P+P = £ pre tax total

+ 6.7% of the price of the goods + 17.5% of £ pre tax total

+ brokerage fee from ups, fedex etc

= total

so on a £575 lens with $100 (£50) shipping approx cost is

6.7% of £575 = £38.52
17.5% of £575 + £50 = £109.37
brokerage fee approx £10

total

£575 + £50 + £38.52 + £ 109.37 + £10 = £782.89 approx

You pay tax and VAT because they have not been payed in the UK on that item before, when buying secondhand in the uk the VAt + tax was paid when the item was new.

Give Kerso a call his new price for a mk2 is just higher than that and if you do sell it on will be more desirable than the mk1 version.
 
Hypothetically, what would prevent the seller from declaring the item to be a different value, ie less, than it really is?
 
You must log in or register to reply here.
Back
Top