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londoncolin
·Very interesting comments on this thread. I wonder where this will drive prices on EU derived vintage (or just old) watches purchased in to the UK.
Anyone imported a watch yet after Brexit to UK from EU?
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bthUK
·I bought an Invicta in January.
It was a 31290/1953 on sale on their website for 120Euro (About £113UK)
I assumed I would be charged VAT but didn't so I assume Invicta must deal with that.
I know when it goes the other way that Chris Ward, for example have VAT registrations in the EU where they can, and their EU customers do not pay any more either.
Ebay handle all the VAT now as well, anyway, and add on VAT if it's applicable, so I suppose it depends who you are buying from, and how oyu do it.
I think if you bought privately somehow, then HMRC would charge you VAT. The seller has to make a declaration, and that's what they use.
It was a 31290/1953 on sale on their website for 120Euro (About £113UK)
I assumed I would be charged VAT but didn't so I assume Invicta must deal with that.
I know when it goes the other way that Chris Ward, for example have VAT registrations in the EU where they can, and their EU customers do not pay any more either.
Ebay handle all the VAT now as well, anyway, and add on VAT if it's applicable, so I suppose it depends who you are buying from, and how oyu do it.
I think if you bought privately somehow, then HMRC would charge you VAT. The seller has to make a declaration, and that's what they use.
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Syrte
·All I can say is that I made a couple purchases from the UK to EU in the summer and the fall, thinking I’d better hurry before Brexit. And I sure am glad I took it seriously.
There was also a small watch I contemplated in December and I’m now thinking I probably ought to have pulled the trigger
.i’m not really looking forward to an extra 20%.
There was also a small watch I contemplated in December and I’m now thinking I probably ought to have pulled the trigger
.i’m not really looking forward to an extra 20%.
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MalcolmUK
·The standard 20% rate of VAT is applied to the sale price of the watch when you sell it. However, if the luxury watch is deemed an antique or collector's item and imported from the EU, it may be subject to a lower import VAT rate of 5%; however, VAT at 20% will still be chargeable when you sell it later.22 Dec 2023
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TimeODanaos
·The standard 20% rate of VAT is applied to the sale price of the watch when you sell it. However, if the luxury watch is deemed an antique or collector's item and imported from the EU, it may be subject to a lower import VAT rate of 5%; however, VAT at 20% will still be chargeable when you sell it later.22 Dec 2023
First-and-only post from brand-new member
Re-activation of 3-year dormant thread
Tone-deaf re-hash from unacknowledged sources
Not exactly wrong but not constructively right either
Edited:
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Davidt
·The standard 20% rate of VAT is applied to the sale price of the watch when you sell it. However, if the luxury watch is deemed an antique or collector's item and imported from the EU, it may be subject to a lower import VAT rate of 5%; however, VAT at 20% will still be chargeable when you sell it later.22 Dec 2023
This isn’t the case. I’ve bought plenty of watches from the EU and RoW and I’ve never been charged 5% duty. It’s either nothing (very, very rare) or the full 20% plus additional charges/admin (this is usually what happens)
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khanmu
·The standard 20% rate of VAT is applied to the sale price of the watch when you sell it. However, if the luxury watch is deemed an antique or collector's item and imported from the EU, it may be subject to a lower import VAT rate of 5%; however, VAT at 20% will still be chargeable when you sell it later.22 Dec 2023
For the purposes of qualifying as an antique, an item has to be at least 100 years old on the date of importation into the UK, and you’d have to have some form of evidence / documentation to that effect, if challenged. I imagine this would only apply to a very small number of watches…
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TimeODanaos
·Bot? 😗
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padders
··Oooo subtitles!The standard 20% rate of VAT is applied to the sale price of the watch when you sell it. However, if the luxury watch is deemed an antique or collector's item and imported from the EU, it may be subject to a lower import VAT rate of 5%; however, VAT at 20% will still be chargeable when you sell it later.22 Dec 2023
Prove you are not a bot. What's the colour of the boathouse at Hereford?
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padders
··Oooo subtitles!Shhh! Don't give the bot clues!!!! 😀
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TimeODanaos
·Yikes - I just got a PM from a Professor Turing demanding I prove that I'm real! 😲😟
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