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Imported post

While the exchange rate is so good between here and the USA, I was considering buying a few bits of dive gear.

But then there's that nasty possibility of having to pay to import it. And the last thing I brought in here nearly doubled in price after Customs and Royal Mail took their slice.

Anybody know roughly what the going rate is on imports?
 

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Hopping Mad
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Imported post

Dominic

It depends on what you import.

The rates of Customs Duty vary from item to item and range roughly from 1 or 2% to up to 15%.  This duty is based on the value of the item.  You can reserach the Customs website at www.hmce.gov.uk and if you can't find the rates there, ring the Customs helpline and get them to check the "Tariff" for you - this is the bible with all the rates in.

Then, on top of the Customs Duty, you have to pay VAT at 17.5%.

So, if an item costs £200 and customs duty is, say 5%, that duty comes to £10.

The VAT is worked out on the value including customs duty, in this case £210, so the VAT would be £36.75.

Total amount to pay = £46.75.

You need to do a bit of homework before you buy and work out whether it's likely to be cost effective for you.

HTH
 
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