Reply With QuoteBefore 31 December: Germany is EU. UK is EU. No cost.
After 31 December:
Looking at brining in a watch and bracelet. Any idea on what the VAT and duty will be.
TX
Before 31 December: Germany is EU. UK is EU. No cost.
After 31 December:
Onelasttime is correct. No costs at all until the 31st of Dec. Then who knows after!
BW,
Chi Kai
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Yep, get in quick would be my advice.
Simon
On a related note, are any members planning on “rushing through” European purchases before the end of Dec?
I find prices for U.K. dealers tend to be higher than European ones when going for pre-owned or grey and have happily purchased quite a few pieces from Europe over the years. Will be a blow to lose these duty and VAT “free” dealers......
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so currently there is only vat
do royal mail or HMRC take anything
thanks guys
Originally Posted by Onelasttime
Before 31 December: Germany is EU. UK is EU. No cost.
After 31 December:currently NO VAT or HMRC issues as we are still in the EU to 31 December! Obviously the seller may charge postage costs.
No, currently there are no additional costs. If we have a no deal there could be VAT at 20% collected by HMRC and if that happens the courier will no doubt add on their £12 or so.
At present VAT is paid in the country the seller is in, so EU VAT has already been paid.
it is damasko - they say they don't charge german tax.
Don't think they can say that for a sale to another EU country. If a buyer was in Japan or the US for example then yes, they could sell tax free then the watch would be subject to whatever tax laws are applicable in the country of receipt.
okay so they must charges German tax and then it will be fine ?
Yes. Just the price of the Watch and the postage.
They may charge German or UK VAT. German is lower.
With respect, we aren't.
The rest is right though.
I’ve bought three from Germany this year,no extra cost involved.
nice. from Damasko ?
I bought my DA47 direct from Damasko. No additional costs.
Just to confirm what others have said - Germany to UK will have no costs other than shipping.
I recently purchased from Damasko - no issues - arrived less than a week later.
Kind regards
Adam
Oops - yeh - we left in Jan.
No
I bought one from a Danish dealer, it arrived this week. No charges.
But get your skates on, the EU window is closing.
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It makes me wonder how all the dealers etc are going to cope with the changeover on 1st January. Are they prepared? It could be chaos! Are prices going to rocket? Are EU dealers going to treat the UK as the poor relation because of all the confusion, and give up supplying us with our trinkets?
Is it better buy direct or through a German dealer ?
I think buyers in the U.K. will definitely have a lot less haggle room with vendors as they know we have a lot less options. Prices will go up.
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So the best case is that watches from the EU will be 20% more expensive from 2021 plus a customs admin fee presumably? How depressing, still at least we've got blue passports to look forward to.
Last edited by watchcollector1; 19th November 2020 at 05:59.
I got mine thro dealers.
If no deal, after 01/01/21 what will happen with VAT?
1. If you buy from a German VAT registered dealer, will the seller take off 19% German VAT as the watch is being exported to a third country and the buyer will pay 20% UK VAT on entry to the U.K.? Not much different.
“Sellers will not charge VAT, but buyers will have to pay VAT to HMRC at the point of import (alongside any applicable customs duties).”
2. If you buy from a German private individual you will pay 20% U.K. VAT on arrival in the U.K.? Big difference.
Northern Ireland will be different.
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Last edited by BillyCasper; 19th November 2020 at 09:44.
No regarding the 20% extra, because the European vendors should not include their own countries vat in the price you pay them. The customs handling fee, usually about £13-14 yes.
Edit: just seen BillyCaspar's post above which explains it better.
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Thanks. That makes sense for new watches but it seems different for used watches. I read on a few adds from German second hand dealers that in Germany, VAT is not levied on second hand goods there but in the U.K., VAT is levied on second hand goods. The U.K. does have VAT margin scheme for second hand goods where VAT is only levied on the profit margin. But I don’t that that is commonly used.
I may be very wrong about the above and would really welcome other member’s thoughts.
BW,
Chi Kai
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Quite possibly if you buy used from a VAT registered dealer or auction house. But a private individual? I reckon 20% on the declared value, irrespective of age, whether considered new (can new be bought from a private individual) or old. A private individual is unlikely to be au fait and will just fill in the post office sticker with contents and value.
Mind you, I don’t know, it’s just what I think.
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Last edited by BillyCasper; 19th November 2020 at 10:23.
Tend to agree - just treat import as the same as outside EU - look at costs importing from USA currently - 20%VAT declared value slapped on + charges by shipper (which tend to be relatively extortionate for low value items) + postage costs, all also subject to VAT.
Can't really second guess what will happen with EU just yet - but with only about 8 weeks to go - not long to wait.
I have an incoming on route from a dealer in Poland.
It’s currently cheaper than anything I found for sale in the UK but that may change from next year. Only time will tell.
I don't think it will make any difference to prices as I believe under new ruling that foreign sellers (wherever they are in the world) will have to charge the rate of vat of the receiving country. It may be that some sellers won't want the hassle so there could be less choice.
I’ve got one inbound from Monaco,apparently no import charges.
I suppose it'll work both ways. I'm in the EU, and I rushed through a used watch purchase from a guy in the UK.
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