Import tax & vat
24 November 2003, 08:41 PM
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Hi im going to have some wheels imported from japan by sea freight i have been given a very good pirce, but im not sure about paying import tax or vat if any applies commin into england (hope fully not) ....does anbody have any info i dont wana have my stuff stuck in a locker by customs and find i goto pay a huge bill to get it out......
Thanks 4 any help
Thanks 4 any help
24 November 2003, 08:51 PM
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24 November 2003, 10:28 PM
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Firstly; you will be liable for import duty at the appropriate rate; probably 10%. On the sum of this you will have to pay VAT at 17.5%. You may also need a customs clearing agent to facilitate this. All duties are paid on HM C&E's assessment of the goods value; they will probably accept the price that you paid as the good's value if you shipped promptly and you can provide proof. Remember that they will include the cost of all shipping in the assessment. Hope that this helps.
Simon
Simon
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