My last watch arrived from Poland without problems.
The previous one I picked up in Lisbon. Are the days of trouble free imports from Europe numbered?
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I guess the first point of clarification should be that Watch Talk is not the place to discuss politics but...
Yes I would appear so...
The World Wide Web will still mean you can buy from Europe but The UK is leaving the customs union so that would mean you have to pay duty when they arrive in the country
The mention of BREXIT in watch talk?
How very dare you Sir!
Won't be any different from buying a watch from States, Turkey, Dubai or Far East.
Fas est ab hoste doceri
If Parliament actually respects the vote, then this ^^^^ [And, no, one does not pay duty on those imports!]Originally Posted by VDG
Yes one does.
It's all part of the soaraway Brexit dividend, folks.
+1The mention of BREXIT in watch talk?
How very dare you Sir!
Brexit might (or might not depending on who you believe) have three subtle changes on watch buying:
1) A further weakening of the UK to foreign currencies exchange rates will increase costs for UK manufacturers and the sterling prices of imported watches (or may not depending on who you believe).
2) Salaries may stagnate if business as a whole becomes less profitable due to the WTO tariffs, customs delays and loss of confidence (or may not depending on who you believe).
3) The short chap with a beard might end up PM, in which case we'll all be paying tax until we bleed from the nose, or (depending on who you believe) benefits will increase to the level that everyone has the same level of disposable income and we transition to a delightfully socialist sort of society where everyone is equal, no schools are allowed to play competitive sports and everyone is a winner (or loser, depending on who you believe).
Who said a political opinion can't be unbiased!
George and Dragon territory already, this thread.......
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Not really G&D as it's quite specifically asking rent its effect on Watches.
Could be good for us as hopefully we will be buying net of local taxes but paying our own rate of Vat on arrival.
Last watch I bought from Portugal I was charged 23% vat because that was applicable to the seller.
Plus when sterling bounces back we'll be paying next to nothing 😁
I would assume that 20% import tax will apply, same as buying from USA, Canary Islands or Jersey.
I would've thought that was obvious, currently we buy from the EU tax-free but that'll change.
So you’re all assuming brexit is going to happen. Have you not considered the scenario where May loses the vote and we agree via a second ‘peoples vote’ that brexit was a bad idea.
In that scenario pound might strengthen and make those beautiful Swiss and Japanese babies cheaper.
We should all be praying for a no brexit, brexit!
In full disclosure I did vote remain, yes I have read all of Wetherspoons brexit propaganda and still believe brexit is ‘probably’ a bad idea
Not sure thats correct, the 20% you quote is VAT not import tax, when we currently buy from the EU its with the originating countries VAT already included and so then its not currently recharged when moved within the EU.
Cheers..
Jase
Thats not correct. We pay the rate of tax applicable to the country we are buying from. Sometimes that can be higher than our rate of 20% (oops, been beaten to it by Jason!!)
On a purely VAT basis - ignoring sterling vs CHF questions. New watches it will not make much difference (deduct local VAT on export, pay local VAT on arrival) it will cause a delay and some additional costs but not a huge issue apart from lack of convenience. 2nd hand watches / private sales will be more of an issue as they will attract VAT on import but this won’t be able to be claimed I believe on departure so potentially a 20% increase in these items. Trading bits and pieces will certainly be more complicated if there isn’t a deal agreed when we leave the EU, at least until until the “easiest trade deal in history” is finalised.
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I believe it will increase prices and reduce the volume of watch trade between Britain and Europe. Prices will lower again to an extent to adjust for reduced demand but I believe they will still remain higher than present. Any barriers to trade have this kind of effect.
I know at present I'm far more likely to buy from Europe than USA.
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No, one pays VAT, not import duty. And of course one has to pay VAT on watches from the EU already -albeit at the local rather than UK rate.
Did someone mention Brexit watch?
Gray
No! Please god, my eyes. MY EYES!!!!Did someone mention Brexit watch?
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put me down for some of that please.
Guillotine for Rees-Mogg, Gove and Johnson please.
Lovely strap to be fair.
Please keep political nonsense out of WT.
Fas est ab hoste doceri
I'll not be buying anything from Europe post Brexit until things calm down but I can imagine it'll be a golden opportunity for HMRC to add a 20% VAT charge to anything 2nd hand coming in from t'other side of the channel
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