The future of silver, VAT and import charges into the UK now a Deal has been done!?

[BackyardBullion]

38 minutes ago, GoldStatue said:

I've just had to pay £8 to the Royal Mail on a parcel from the continent (non-coin related), that's just as much as a scandal as pay day loans in my book!

Royal mail are the cheapest too, some couriers charge up to £20!

[silversky]

3 minutes ago, BackyardBullion said:

Royal mail are the cheapest too, some couriers charge up to £20!

The advantage to the couriers is that they deliver then bill you.  Royal mail take nearly a week to get round to putting a card through the door demanding payment.  Shocking service from RM.

[Erolroller]

52 minutes ago, GoldStatue said:

I've just had to pay £8 to the Royal Mail on a parcel from the continent (non-coin related), that's just as much as a scandal as pay day loans in my book!

It's a fair price to pay all round is it not to be free from the EU? 

 

[BackyardBullion]

14 minutes ago, Erolroller said:

It's a fair price to pay all round is it not to be free from the EU? 

 

Well that is quite the question and the answers will range in magnitude I suspect!

[SilverAngel]

Well VAT does stand for Very Annoying TAX ....

UPS.. U Pay Severely...

DHL... Definitely Higher Levies...  

RM.... Revenue Miscreants (actually to be fair RM have always been good.. touch wood)..

Hermes............ Well definition is HERMES WAS KNOWN AS SOMETHING OF A TRICKSTER, STEALING AT ONE TIME OR ANOTHER POSEIDON’S TRIDENT, ARTEMIS’ ARROWS & APHRODITE’S GIRDLE.. 

But in a world where buying goods online has, and will continue to escalate means we will beholden to delivery services and joking aside.. we now live in a world where we expect to buy something, from anywhere and get it delivered overnight.... and on the most part service has been good... and all of the above I have used in one form or another and have been relatively pleased with their services... 

Edited January 21, 2021 by SilverAngelPouring

[Guest]

18 hours ago, GoldStatue said:

I've just had to pay £8 to the Royal Mail on a parcel from the continent (non-coin related), that's just as much as a scandal as pay day loans in my book!

Did you order it before 31/12? Otherwise, it doesn't make sense. VAT should have been paid at the source.

[GoldStatue]

9 minutes ago, savoyard said:

Did you order it before 31/12? Otherwise, it doesn't make sense. VAT should have been paid at the source.

That £8 was the Royal Mail handling fee, that's on top of the VAT.

I think if the goods are worth £136 or less the company you're buying it off is meant to collect the VAT, if the value of the goods is over that amount you pay the VAT to HMRC when it hits customs in the UK and get the Royal Mail/whatever courier you're using handling charge on top of that for good measure.

Sounds like a good time to buy Royal Mail shares 😀

[BackyardBullion]

1 hour ago, savoyard said:

Did you order it before 31/12? Otherwise, it doesn't make sense. VAT should have been paid at the source.

It is not about the point of sale, it is the point of shipping, or in tax terms "supply" that counts as to whether you would be charged import duties. 

[Lucylucy]

Hello

My head is spinning a little trying to understand the VAT etc situation on importing from Germany.

 I want to order a silver coin for 280 Euros plus say 10 Euros for shipping. Am I right in saying that I shall be charged 

in the worst case scenario :-

Cost of goods and shipping

20% Vat on the total cost

Courier charge (£8? RM)

Import Tax or customs duty?

Sorry to be simplistic but I cannot trace any UK sellers for this coin and I want to know the total downside at worst.

Thank you all

Frank

[sovereignsteve]

I don't think there will be any import duty but yes, vat and handling charge.

[Lucylucy]

Thank you Steve,

[VelociteeSteel]

€

6 minutes ago, Lucylucy said:

Hello

My head is spinning a little trying to understand the VAT etc situation on importing from Germany.

 I want to order a silver coin for 280 Euros plus say 10 Euros for shipping. Am I right in saying that I shall be charged 

in the worst case scenario :-

Cost of goods and shipping

20% Vat on the total cost

Courier charge (£8? RM)

Import Tax or customs duty?

Sorry to be simplistic but I cannot trace any UK sellers for this coin and I want to know the total downside at worst.

Thank you all

Frank

Cost of goods + shipping €290

VAT @ 20% on €290 at whatever that works out into £'s

Plus Courier charge to cover admin.

No import tax or customs duty

Can the seller zero rate his VAT for an export overseas transaction, that might save a few £'s

[sovereignsteve]

16 minutes ago, VelociteeSteel said:

Can the seller zero rate his VAT for an export overseas transaction, that might save a few £'s

Yes, I'm curious why EU sellers aren't doing this already. It's been standard practice for UK sellers to sell goods VAT-free for overseas shipment, as long as we've been in the EU. So it must be possible.

[Martlet]

4 hours ago, sovereignsteve said:

Yes, I'm curious why EU sellers aren't doing this already. It's been standard practice for UK sellers to sell goods VAT-free for overseas shipment, as long as we've been in the EU. So it must be possible.

Its most likely they simply weren't ready for the change, haven't adjusted their software to remove VAT when location equals UK.  In the case of "VAT-free" silver, technically there isn't any VAT to remove, they are still liable for the margin VAT locally so will have to add that. 

[PenguinUK]

Hi folks,

I don't know if this is useful information but just in case -

German coin company https://www.heubach-edelmetalle.de/ are no longer shipping to the U.K. (said in email). (perhaps due to changes since Brexit)

I had used them some years ago and they were very good.

 

Edited March 10, 2021 by penguin
addition for clarity

[juansanto7]

Even before Brexit I belive that you had to contact the owner to post to UK as UK was not one of the standard countries they use to ship to. You will find that most of the dealers in Germany, if not all will now not ship to the UK (not even consider it). I guess that is what we voted for as a sovereign and island nation.

[silversky]

3 hours ago, juansanto7 said:

Even before Brexit I belive that you had to contact the owner to post to UK as UK was not one of the standard countries they use to ship to. You will find that most of the dealers in Germany, if not all will now not ship to the UK (not even consider it). I guess that is what we voted for as a sovereign and island nation.

This isn't what we voted for.  The nonsense with the VAT is due to come into force in the EU anyway so we would still be subjecting the rest of the world to these kind of restrictions later this year even if we'd stayed in the EU.  We've simply implemented it slightly sooner than them when we could have ignored it.  It damages small sized business with the entire world and is completely retarded for us to be implementing.  

[PenguinUK]

More info. A German shop still delivering to UK.

http://silbertresor.de/  (previously called philaberlin possibly)

"yes we still send to the UK.
Less than € 1,000 value of goods € 14.99 shipping,
Over 1,000 € goods value 49.99 € shipping."

I still don't understand the taxes and duties, but I might try a small order.

[silversky]

13 minutes ago, penguin said:

More info. A German shop still delivering to UK.

http://silbertresor.de/  (previously called philaberlin possibly)

"yes we still send to the UK.
Less than € 1,000 value of goods € 14.99 shipping,
Over 1,000 € goods value 49.99 € shipping."

I still don't understand the taxes and duties, but I might try a small order.

You will be charged 20% VAT on your order.  Either this should be collected by silbertresor and forwarded to HMRC (an onerous task) if your order is small or, if your order is large they theoretically might sell it to you minus German VAT and you will have your parcel assessed at UK customs or by the post office and will pay 20% VAT on it plus an £8 handling charge.  Charges are more at other couriers.

If small businesses fail to bother collecting tax on behalf of HMRC and just send it anyway this will result in some punitive measure for repeat offenders.  I fail to see what exactly other than confiscating items but they'd have to be opening every single package to know who the seller was.  Clearly, making a foreign seller of small value items open an account with the UK tax authorities and act as their agent has resulted in people all over the planet saying FU.

Its a monumental blunder by this government who should have told the EU where to stick it.  This is an EU designed wall to small businesses around the planet.  We don't need such a wall.

[vacancies]

10 hours ago, silversky said:

You will be charged 20% VAT on your order.  Either this should be collected by silbertresor and forwarded to HMRC (an onerous task) if your order is small or, if your order is large they theoretically might sell it to you minus German VAT and you will have your parcel assessed at UK customs or by the post office and will pay 20% VAT on it plus an £8 handling charge.  Charges are more at other couriers.

If small businesses fail to bother collecting tax on behalf of HMRC and just send it anyway this will result in some punitive measure for repeat offenders.  I fail to see what exactly other than confiscating items but they'd have to be opening every single package to know who the seller was.  Clearly, making a foreign seller of small value items open an account with the UK tax authorities and act as their agent has resulted in people all over the planet saying FU.

Its a monumental blunder by this government who should have told the EU where to stick it.  This is an EU designed wall to small businesses around the planet.  We don't need such a wall.

Expensive to start with. Be better off with any of the big ones over here

[Pete]

On 10/03/2021 at 16:08, penguin said:

Hi folks,

I don't know if this is useful information but just in case -

German coin company https://www.heubach-edelmetalle.de/ are no longer shipping to the U.K. (said in email). (perhaps due to changes since Brexit)

I had used them some years ago and they were very good.

 

I too have used them in the past.
Another German company I used extensively and who was excellent before GS.be and the European Mint arrived on the scene is Aurinum and their website's front page first line states - 
 

NOTE: No Delivery to United Kingdom until further notice !

 

[fluttershypony]

The amount of VAT we have for silver and platinum is beyond stupidity.

[Pete]

I was checking the rules on VAT post Brexit.
Assuming I read this correctly my understanding is that there are special rules for low value orders with a caveat.
All goods exceeding £135 value are automatically subjected to 20% VAT
Below £135 on-line market place sales e.g. eBay and Amazon will add 20% VAT to the final prices sold, meaning the seller will not have to add VAT but you will pay Amazon and eBay a charge.
Now here is the question -
This does not apply to commercial sellers who are supposed to register and account for UK VAT.
So if you order some silver coins from Silver-To-Go and their invoice is say £120 will these coins transit the system free of VAT and shippers fees ?
I noticed their sister Company CoinInvest has a minimum order of £135 ( very clever !!! ) so (a) they will not get involved in VAT BUT you will be charged 20% by the shipper.
Does this therefore NOT apply to Silver-To-Go ?
I don't want to be testing this out so welcome comments from anyone who has ordered and got away with not paying VAT below £135 value.

[BackyardBullion]

1 minute ago, Pete said:

I was checking the rules on VAT post Brexit.
Assuming I read this correctly my understanding is that there are special rules for low value orders with a caveat.
All goods exceeding £135 value are automatically subjected to 20% VAT
Below £135 on-line market place sales e.g. eBay and Amazon will add 20% VAT to the final prices sold, meaning the seller will not have to add VAT but you will pay Amazon and eBay a charge.
Now here is the question -
This does not apply to commercial sellers who are supposed to register and account for UK VAT.
So if you order some silver coins from Silver-To-Go and their invoice is say £120 will these coins transit the system free of VAT and shippers fees ?
I noticed their sister Company CoinInvest has a minimum order of £135 ( very clever !!! ) so (a) they will not get involved in VAT BUT you will be charged 20% by the shipper.
Does this therefore NOT apply to Silver-To-Go ?
I don't want to be testing this out so welcome comments from anyone who has ordered and got away with not paying VAT below £135 value.

My understanding is that any imports that have not been taxed at source will be taxed upon entry into the UK. 

This also covers any online sellers that do not use a marketplace to collect the VAT at source and any sellers/platforms that just don't bother. 

From reading somewhere on the HMRC blurb about it they say they will pursue persistent offenders that import into the UK as a business under the threshold that don't collect the VAT at source and force them to register for VAT. How HMRC feel they will have any legal jurisdiction to enforce this in every country on the planet is anybody's guess!

[juansanto7]

On 10/03/2021 at 20:37, silversky said:

This isn't what we voted for.

We voted to come out of the EU, and as as we are no longer part of the EU, we have to pay VAT (and handling fees to the courier, RM) for goods imported from the EU to HMRC. And yes, we voted for this. It comes with the territory. Otherwise if we would have still been part of the EU, this thread would simply not exist.

Edited March 13, 2021 by juansanto7