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john_coburg
·-
Edited:
Avoiding NY sales tax and UK VAT on purchase
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Guy0783
·Best advice, and practice, is to pay the tax you're legally obligated to pay. Not the answer anyone wants to hear I don't think, but it's the truth.
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Archer
··Omega Qualified WatchmakerYou probably want the forum called "How to commit tax fraud" rather than a watch forum for this kind of "advice"...
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Enzo
·^ yep...and you are supposed to declare any items at customs when back in the UK, so could be a little nerve wracking!
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Guy0783
·Best advice, and practice, is to pay the tax you're legally obligated to pay. Not the answer anyone wants to hear I don't think, but it's the truth.
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Kmart
·Asking how to dodge taxes on a public forum... 
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tpatta
··Happily spending my daughter’s inheritanceI don't see the work around on NY taxes as an issue. "Smuggling" the watch back in to the UK could become a serious issue. Sure you want to go down that rabbit hole?
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STANDY
··schizophrenic pizza orderer and watch collectorNot that this thread will last long
Don’t think buying in person being a UK resident you will have to pay NY sales tax. ( someone in the US might clarify )
But lying on a deceleration card entering the UK is a offence last time I checked.
https://www.inbrief.co.uk/business-finance/vat-evasion/
What are the sanctions for VAT evasion?
Intentional evasion of VAT is a criminal offence under section 72(1) of the Value Added Tax Act 1994. It is a serious offence carrying a possible prison sentence of 7 years. Charges can also be brought under the Fraud Act 2006.
Separately, HMRC will conduct its own investigations and impose penalties under the civil evasion penalty regime. In relation to VAT and VAT credits, the prescribed penalty is 100% of the amount evaded and, in the case of refunds and repayments, it is the aggregate of the amount of input tax which was overstated and output tax which was understated.
Don’t think buying in person being a UK resident you will have to pay NY sales tax. ( someone in the US might clarify )
But lying on a deceleration card entering the UK is a offence last time I checked.
https://www.inbrief.co.uk/business-finance/vat-evasion/
What are the sanctions for VAT evasion?
Intentional evasion of VAT is a criminal offence under section 72(1) of the Value Added Tax Act 1994. It is a serious offence carrying a possible prison sentence of 7 years. Charges can also be brought under the Fraud Act 2006.
Separately, HMRC will conduct its own investigations and impose penalties under the civil evasion penalty regime. In relation to VAT and VAT credits, the prescribed penalty is 100% of the amount evaded and, in the case of refunds and repayments, it is the aggregate of the amount of input tax which was overstated and output tax which was understated.
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STANDY
··schizophrenic pizza orderer and watch collectorDriving on the tax payer funded road to and from the airport Is the real crime.....
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NT931
·Afternoon all,
Excuse the dull tax-related question, but as part of planning a relatively sizeable acquisition, being based in the UK and seeing US prices being circa 5-10% lower than those in the UK, is it possible to avoid both UK VAT and NY sales tax via the following: fly to NY to inspect the watch in person, but stay (possibly just overnight) at a Jersey City hotel (or anywhere out of NY state); purchase/transact remotely (e.g. via C24) but asking them to ship to my NJ hotel (hence avoiding NY state tax), and then fly home with it on my wrist (hence avoiding UK VAT).
Does this work? Or is there a fly in the ointment...?
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Scooterino36
·Does this work? Or is there a fly in the ointment...?
As others have stated, US and UK tax code is the proverbial fly in the ointment.
To the other members: is buying at a US airport a legal way to save here?
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janice&fred
·Saving money is a valid desire, but perhaps the OP should regard the taxes involved as part of the purchase price when considering whether a deal is worth doing.
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kov
·Better to ask this question on Facebook. 👍
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tpatta
··Happily spending my daughter’s inheritanceAs others have stated, US and UK tax code is the proverbial fly in the ointment.
To the other members: is buying at a US airport a legal way to save here?
Interesting choice you will have to make. Good luck.😁
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Spacefruit
··Prolific Speedmaster HoarderIf you have to ask, you shouldn't do it.
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Dan S
·The first part may be legal, but the second definitely is not.
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cicindela
··Steve @ ΩFI will ask our Mod that is a UK tax/customs official and get back you. Can you pm me with your name and address in the UK.
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gemini4
··Hoarder Of Speed et aliaHave you considered the Lincoln Tunnel Inter-State Tax-Free Trade Zone?😁
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Foo2rama
··Nowhere near as grumpy as he used to be...Not that this thread will last long
Don’t think buying in person being a UK resident you will have to pay NY sales tax. ( someone in the US might clarify )
But lying on a deceleration card entering the UK is a offence last time I checked.
https://www.inbrief.co.uk/business-finance/vat-evasion/
What are the sanctions for VAT evasion?
Intentional evasion of VAT is a criminal offence under section 72(1) of the Value Added Tax Act 1994. It is a serious offence carrying a possible prison sentence of 7 years. Charges can also be brought under the Fraud Act 2006.
Separately, HMRC will conduct its own investigations and impose penalties under the civil evasion penalty regime. In relation to VAT and VAT credits, the prescribed penalty is 100% of the amount evaded and, in the case of refunds and repayments, it is the aggregate of the amount of input tax which was overstated and output tax which was understated.
