Eddie
Eddie
Whole chunks of my life come under the heading "it seemed like a good idea at the time".
That's it lad's, just got the timefactors email through for the pre-order link ......
www.timefactors.com/voyager/pre-order.html
Cheers
Simon
Ralph Waldo Emerson: We ask for long life, but 'tis deep life, or noble moments that signify. Let the measure of time be spiritual, not mechanical.
The original Dreadnought was £450 so with inflation thats circa £625 today, the Dreadnought GMT add a complication so I guess around £800 which judging by the interest on here means Eddie should have £79,200 in his bank account within 48 hours of release if everyone puts their money where their mouth is!
RIAC
I have joined the forum just to request a reservation of that watch!!
Looks like i'm about 215 comments too late, but definitely interested :o)
Fair enough! I guess it will be a case of monitoring the TimeFactors website!!! Opportunist poster, but major lurker!
I read this thread on WUS:
http://forums.watchuseek.com/f74/pre...ml#post4925906
Post 5 states that Eddie doesn't charge VAT on his watches, presumably this is because his turnover is less than the £77,000 VAT threshold. This forthcoming Dreadnought sale could blow that out the water (excuse the pun!), does this mean that post Dreadnought, we'll have to start paying VAT on Timefactor watches? I'm not an Accountant so if I'm wide of the mark, please excuse my ignorance.
From my Timefactors receipt = VAT REG: 763 XXXX 11
Someone is telling porkies / or they are buying from somewhere outside of the UK where VAT does not apply.
The final price would be the same anyway.
UK Vat on a finished product is offset by the vat content of the raw material prices.
So the final costs are the same, regardless of how the account divvies up the numbers.
Last edited by Reeny; 10th January 2013 at 13:13.
Well, it's probalby too late, but if number 17 is still available, I'd like to have one :D
I also want to be in with any number.
Thanks
Here's a thought.
Dreadnought GMT Release Day - will the current record tumble?
There are currently 580 users online. 302 members and 278 guests
Most users ever online was 1,160, 12th November 2012 at 19:15.
Martin.
Shouldn't the question be, is there enough server capacity to cope with demand ;) Let's hope so or it could get messy...
Count me in for one if there are any remaining spots. Any number will do! Happy for all those who got in on the melee.
http://www.bbc.co.uk/news/in-pictures-20294970
This is just the highest attendance since the forum moved to a new software (16 July 2012), probably not a very relevant number due to the short time period.
Actually you're wrong there. It's because of this; the BBC subsequently had to Photoshop Alexaff out of the picture for legal reasons.
In the Sotadic Zone, apparently.
How many people have joined this thread without reading it and requested a number!?
If I was Eddie I'd put half on the website and the other half on ebay. Everyone else made money off his back on the original Dreadnought so I think he should stand a chance to make a bit more this time; it is a business afterall.
Not posting to ask for one, just to chip in on the design.
Looks absolutely fantastic.
To be honest probably a little chunky for my wrists, but I'll be interested to see a few wrist shots on any puny buyers lucky enough to get one!
Members might like to cast their gaze over (be reminded of) these stunning shots of the PRS-2 taken by Ming Thein who's a member, although not recently active of TZ-UK and a professional photographer of much skill. His flickr stream is testimony to that but of course it does help to have something attractive to shoot.
David
Infinite Diversity in Infinite Combinations
Sadly, we may not be seeing any DN-GMT photos from Ming.
My first post here....
I missed one and kicked myself ever since...... I will be watching and waiting cash in hand. I have not been excited about anything watch realted for about 2 years.... thanks for renewing my spark (or spring) much to my wifes shugrin!
You've gone from repeating something read on the internet, to assuming it's true. The answer you'll be pleased to hear is no - VAT is included for UK (and EU customs area) sales, as you'll find pointed out on the "Policies" part of the internet. The person on WUS was wrong, if it was intended to be a blanket statement.
Que? The final price is different if you apply VAT, or don't apply it. UK VAT is collected by the seller, who remits it to the government. The difference is, most business inputs on which the seller pays VAT can have the VAT component claimed back, and VAT on the raw material ends up being offset against the VAT owed from the sale. The idea is that the value added at each step of the process is taxed; the clue being in the name ;). The end consumer pays all the VAT to the government and cannot claim it back. If that person is outside the EU customs area, no VAT is charged and the seller remits no VAT for that sale to the government.The final price would be the same anyway.
UK Vat on a finished product is offset by the vat content of the raw material prices.
So the final costs are the same, regardless of how the account divvies up the numbers.
...but what do I know; I don't even like watches!
I know what ROBANNENAGY means with this and he is roughly correct in practice, when selling to consumers. Here is why:
Scenario 1:- I am a VAT-registered business and buy products from other VAT-registered vendors and resell them. Clearly I claim back the VAT on purchases and add VAT to sales and claim/submit the difference to/from the government. An example:
My buy price before VAT: £100
Input VAT on buy price @20%: £20
Gross paid by me before VAT reclaim: £120
Net paid by me after VAT reclaim: £100
Intended markup: £20
My sale price before VAT: £120
Output VAT on sale price @20%: £24
Gross paid to me before VAT submission: £144
Net paid to me after VAT submission: £120
What did the customer pay in net terms from their perspective:
£120 if the customer was VAT-registered
£144 if the customer was not VAT-registered
Scenario 2:- I am a non-VAT-registered business and buy products from VAT-registered vendors and resell then. I do not (cannot) claim back VAT on my purchases and do not (cannot) add VAT to my sales. An example:
My buy price including VAT @20%: £120
Total paid by me: £120
Intended markup: £20
My sale price (no VAT): £140
Total paid to me: £140
What did the customer pay in net terms from their perspective:
£140 if the customer was VAT-registered
£140 if the customer was not VAT-registered
Clearly the sale price is about the same in both scenarios for a non-VAT-registered customer regardless of whether their vendor, the trader in these scenarios, is VAT-registered or not; indeed, they might do better to deal with a non-VAT-registered vendor on this theoretical markup basis. For VAT-registered customers, however, it makes much more financial sense to do business with VAT-registered vendors in these scenarios.
The situation is different again where the trader is selling physical services of him/herself or employees (rather than resold physical goods) since these have no input VAT. In this scenario, it is better by far for the trader to be non-VAT-registered when selling mostly to consumers as his prices will be lower, from the consumer's point of view, than they could otherwise be if he was VAT-registered. It makes no difference (other than in cash flow terms and possibly confidence terms) to VAT-registered customers, however.
I can tell you from experience that these are actually far from theoretical scenarios. :-)
Anyway, back to the point: As you say, Eddie should be charging VAT @20% on sales to EU customers[1] and should be charging no VAT to all non-EU customers. I've never actually bought anything direct from Timefactors (sorry, soon to be remedied I hope!) but I presume that the prices shown on the Timefactors site include VAT (since it is a site directed mostly to non-VAT-registered consumers). That being so, the price a non-EU customer pays for a product from Timefactors should be discounted by 16.67% compared to the price shown on the website to account for the VAT @20% included in the price shown.
Footnote:-
1: Unless purchasers in non-UK EU countries can supply him with a valid EU VAT registration number at time of purchase, in which case he should sell without VAT as the purchaser should then account for input VAT on his own VAT return at the time of import into his own country.
Last edited by markrlondon; 29th January 2013 at 17:01. Reason: Fixed typos
http://www.timefactors.com/taxes.htm
Seems clear to me
Thanks for that.
I've been a none VAT registered consultancy business for over 8-years now, and never once charged VAT, or reclaimed VAT.
Apparently I must have been doing it wrong all that time.
I'll let my accountant know.
Eddie has the price listed on the Timefactors website.
For UK customers the price doesn't change.
It is what it is.
Actually I note that one thing it doesn't specify is whether or not the prices shown on the Timefactors site include VAT, which might be helpful for the purposes of doubt avoidance.
As I mentioned in my earlier message, the prices shown on the site should include VAT @20% since the site is primarily directed at non-VAT-registered consumers.
The prices on the website do include VAT.
So presumably if you are ordering from outside the EU and you then go to 'checkout' for your chosen item, the checkout automatically deducts 20% from the listed price shown in GBP, at which point VAT becomes your responsibility at your national rate collected through the delivery duties.
If you have concerns over the VAT/Tax situation, the easiest thing to do would be to contact Timefactors before you place your order.
http://www.timefactors.com/contact.htm
That is effectively what I presume should happen (note, as mentioned above, I've never tested it to completion). Also it doesn't matter if it's not automatic, as long as the calculation is done at some stage. Note also that the reduction/discount from the price shown on the website should be 16.67% (not 20%) to correctly account for removal of included VAT which was added at 20%.
I've just realised that I know exactly when this is getting released. Between the dates of 23rd March to 1st April. How do I know this?
I'll be on holiday with very limited or no internet access.
I am the unluckiest watch buyer ever.
Signed up to the forum as aresult of this watch, have grown quite fond of the Dreadnought and taken my eyes off of other watches in anticipation.
looking nice
Can I have number 69 please?