Thank you for your thorough and clear break down for UK buyers/sellers. A great video, the information is incredibly useful and clearly sets out all aspects of watch transactions and what to expect... Brexit, the gift which keeps giving!
This was an excellent explanation of why I received an unexpected demand for payment after purchasing a watch from a Danish firm, delivered to my home in the UK. The explanation was clear, precise and technical but not to the extent of being confusing. I wanted to make further purchases from this Danish company and I am actually considering flying to the shop, buying and bringing my purchase home, myself. I suspect however, at customs, I shall still have to make some kind of payment. I've yet to research that. I'll just take the moment to ask if you have knowledge on personal carriage of purchases across borders. Its a pleasure to like and subscribe to your channel.
If you wear the watch and have the empty box couriered to you you should avoid any issue with customs if stopped . Declare the box etc as used with a very low value. Of course you should declare everything but that’s between you and your conscience
Very useful clear explanation of yet another non benefit of Brexit . The moral of the story being have a little holiday , collect the watch in person as the cost of a Ryanair ticket and a hotel will come to no where near the cost of the tax on a high value watch
Really useful information Marcello. And a super clear explanation of the buying/selling rules with the EU. 👍 It's just such a shame that we got to this point with increased admin, increased costs, and increased hassle. They conveniently forgot to write that on the side of a bus at Brexit time.
I'm in UK. If I pay £4000 including DHL delivery for a watch in the US, how much more will I have to pay in taxes..etc? Will I have to pay 20% of £4000 (£800)?
👋🏼 Yes. You will need to be prepared to pay our VAT (20%) as you mention and there may be a small handling / processing fee also (£5 - £20 or something, depending on the carrier). Basically the courier companies collect this payment on behalf of HMRC. If they do not request the VAT payment from you, then you may get a letter in the post asking you to pay the VAT at a later date. And sometimes, just sometimes, I do hear watches sneak through with no payment required. But that is a roll of the dice.
Hi. Thanks for the comment. Maybe one for a quick call or perhaps an email - as there are a few scenarios and variables. marcelo@prestige-watches.co.uk 👍🏼
Nice video. Quick question, so if i shipped a £20k watch from Japan, i have to pay 20% right? Is there a way to claim it back when i take the watch outside the country?
If you ship a watch from Japan to the UK, then correct, it is most likely you will need to pay 20% VAT import tax to have the watch released from customs or the shipping courier.
As per your second question, if you are emigrating and have the documentation to evidence the move, this might be possible. But I would recommend to seek professional advise from an expert on this knee and how it would work…
Hi! So if I’m buying a watch off of EBay for let’s say about £200 and £20 shipping from Japan, how much more would I have to pay? Any help is massively appreciated!
Possibly 20% VAT on top of the price of the watch, So £200 + 20% = £40. So £240. And there may also be some other small charges from the courier for admin processing. This may be £5 or £10.
@@PrestigeWatches thank you for your reply, you’re incredibly helpful, is there any work around?😂, if it was said to be gift? Also looking to buy a vintage zodiac, always wanted one do you have any thoughts on them? Thank you for your time!
@@tobiass5252 Any work around would come down to the sender, and based on how much they value the watch for as the declared amount on the commercial invoice that they issue with the paperwork. Nowadays, incorrect / undervalued commercial value amounts is risky for the sender as everything is digitised and recorded / reported. It is dancing on the edge of being fraudulent. Also, for insurance purposes, senders may not want to undervalue the goods in case the package gets lost and a claim needs to be made. Another consideration is if the sender is a private individual or a business. Private individuals are often more flexible with their approach whereas most businesses / companies prefer to follow the rules of import/export as it is their neck on the line. As for your "gift" idea; I'm not sure. You would need to speak with the sender. Vintage Zodiac are cool! I love them But then again, being the watch geek I am, I love most watches from most watchmakers! :)
@@PrestigeWatches hmm okay I’ll have a think, thank you for all your help again! If I sent you a link to one would you be able to have a quick look for me? It’s sad you haven’t made videos in a year! Gone through some and they’re really informative!
Thank you for your thorough and clear break down for UK buyers/sellers. A great video, the information is incredibly useful and clearly sets out all aspects of watch transactions and what to expect... Brexit, the gift which keeps giving!
🙏🏻🙏🏻🙏🏻
This was an excellent explanation of why I received an unexpected demand for payment after purchasing a watch from a Danish firm, delivered to my home in the UK. The explanation was clear, precise and technical but not to the extent of being confusing. I wanted to make further purchases from this Danish company and I am actually considering flying to the shop, buying and bringing my purchase home, myself. I suspect however, at customs, I shall still have to make some kind of payment. I've yet to research that.
I'll just take the moment to ask if you have knowledge on personal carriage of purchases across borders.
Its a pleasure to like and subscribe to your channel.
If you wear the watch and have the empty box couriered to you you should avoid any issue with customs if stopped . Declare the box etc as used with a very low value. Of course you should declare everything but that’s between you and your conscience
Very useful clear explanation of yet another non benefit of Brexit . The moral of the story being have a little holiday , collect the watch in person as the cost of a Ryanair ticket and a hotel will come to no where near the cost of the tax on a high value watch
Really useful information Marcello. And a super clear explanation of the buying/selling rules with the EU. 👍 It's just such a shame that we got to this point with increased admin, increased costs, and increased hassle. They conveniently forgot to write that on the side of a bus at Brexit time.
:) Ha Ha.
Brilliant!!!!
Hope it helped in some way.
I'm in UK. If I pay £4000 including DHL delivery for a watch in the US, how much more will I have to pay in taxes..etc? Will I have to pay 20% of £4000 (£800)?
👋🏼 Yes. You will need to be prepared to pay our VAT (20%) as you mention and there may be a small handling / processing fee also (£5 - £20 or something, depending on the carrier).
Basically the courier companies collect this payment on behalf of HMRC.
If they do not request the VAT payment from you, then you may get a letter in the post asking you to pay the VAT at a later date.
And sometimes, just sometimes, I do hear watches sneak through with no payment required. But that is a roll of the dice.
thanks for the video, how does it work if you go to europe and pick up the watch in person? will they charge you the vat at the point of sale? thanks
Hi. Thanks for the comment. Maybe one for a quick call or perhaps an email - as there are a few scenarios and variables.
marcelo@prestige-watches.co.uk 👍🏼
Can you please tell me how much import duty and customs will I have to pay for 2200 GBP watch from Japan
Hi. Please send me an email. marcelo@prestige-watches.co.uk
If you lived in the UK, could you travel to say Italy, buy a watch then wear it home without paying VAT?
Put the watch on your wrist and post the box back to yourself.
Nice video. Quick question, so if i shipped a £20k watch from Japan, i have to pay 20% right? Is there a way to claim it back when i take the watch outside the country?
If you ship a watch from Japan to the UK, then correct, it is most likely you will need to pay 20% VAT import tax to have the watch released from customs or the shipping courier.
As per your second question, if you are emigrating and have the documentation to evidence the move, this might be possible. But I would recommend to seek professional advise from an expert on this knee and how it would work…
Hi! So if I’m buying a watch off of EBay for let’s say about £200 and £20 shipping from Japan, how much more would I have to pay? Any help is massively appreciated!
Possibly 20% VAT on top of the price of the watch, So £200 + 20% = £40. So £240. And there may also be some other small charges from the courier for admin processing. This may be £5 or £10.
@@PrestigeWatches thank you for your reply, you’re incredibly helpful, is there any work around?😂, if it was said to be gift?
Also looking to buy a vintage zodiac, always wanted one do you have any thoughts on them? Thank you for your time!
@@tobiass5252 Any work around would come down to the sender, and based on how much they value the watch for as the declared amount on the commercial invoice that they issue with the paperwork. Nowadays, incorrect / undervalued commercial value amounts is risky for the sender as everything is digitised and recorded / reported. It is dancing on the edge of being fraudulent. Also, for insurance purposes, senders may not want to undervalue the goods in case the package gets lost and a claim needs to be made.
Another consideration is if the sender is a private individual or a business. Private individuals are often more flexible with their approach whereas most businesses / companies prefer to follow the rules of import/export as it is their neck on the line.
As for your "gift" idea; I'm not sure. You would need to speak with the sender.
Vintage Zodiac are cool! I love them But then again, being the watch geek I am, I love most watches from most watchmakers! :)
@@PrestigeWatches hmm okay I’ll have a think, thank you for all your help again!
If I sent you a link to one would you be able to have a quick look for me?
It’s sad you haven’t made videos in a year! Gone through some and they’re really informative!
So if I buy a used watch from a private seller in the EU to come into the UK for £280 I would have to pay VAT of £56?
Hi Joe. In theory as per the book; yes, that is correct.
Timestamps
Thanks Julien. I'll get on to that! Thanks for the tip.