Brexit Hurting EU Dealers

[Shinus73]

I’ve been waiting for something like this.

Calling all UK-based coininvest.com customers! We know that the rules and regulations around trade post-Brexit have been very confusing. We are here to help and make your life easier when ordering with us. First of all, what hasn't changed? We haven't changed our prices as a result of Brexit. Our rates remain extremely competitive, even when you consider VAT! So, what's different now? VAT is payable at the same rate as any local purchase in the UK, currently 20%. This 20% is not added to the price visible on our website and is payable once your order arrives in the UK. A customs clearance charge will apply. For orders of more than 1,000 Euro, please expect a couple of days delay as we need to complete customs declarations. More questions? Please check out our FAQs or reach out to our sales team here. Check out our newest products!

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[Pete]

"We haven't changed our prices"
...BUT...
UK customers will now pay an extra 20% VAT PLUS customs clearance fees.

Kind of misleading headlines  - previously we paid a price with differential VAT making silver much cheaper than bought from our local UK dealers.
Now with 20% VAT added headline prices may not have risen but total costs certainly have.
I wonder if our UK dealers see this as an opportunity to increase their margins knowing that we cannot avoid the VAT but have to factor in clearance fees and much higher shipping costs ?
I haven't done a comparison yet.
Has anyone bought a coin in January from fellow members shipping from the EU and did you get hit with charges ?
 

[MancunianStacker]

[Goldmiester]

If someone in Germany for example orders something from them to a German address, and after receiving they send it to someone in the UK. Is this allowed and will it circumvent the added VAT?

[Goldmiester]

12 minutes ago, MancunianStacker said:

All worth it for the Blue Passports.

[sixgun]

Their prices should not be the website price + 20%.
We know they pay VAT when the silver coins come into Germany. They should reclaim that and then discount the price to us. The price should be less than website price + 20% b/c of this. If they really wanted the business they'd do a bit more work for the non-EU customers.

[GoldStatue]

I'm not sure why they sent out that email now, it was known weeks ago about the VAT changes.

Also they didn't mention it just applied to silver/platinum and not gold which is pretty important information.

Their emails about new releases are far more helpful.

 

[Pete]

4 hours ago, Goldmiester said:

If someone in Germany for example orders something from them to a German address, and after receiving they send it to someone in the UK. Is this allowed and will it circumvent the added VAT?

No - everything arriving into the UK now will incur VAT at 20% plus charges.
I think there is a gift threshold but it is pretty low where VAT isn't charged.
Gold should be VAT free but assume it will be charged and you will need to reclaim.
Secondhand silver is also charged 20%.
Unless an EU dealer ships VAT free to the UK you will in effect be paying double VAT - VAT in the country of the dealer plus VAT arriving in to the UK.
Within the EU goods cross borders freely but we are outside the EU now.
 

[Goldmiester]

55 minutes ago, Pete said:

No - everything arriving into the UK now will incur VAT at 20% plus charges.
I think there is a gift threshold but it is pretty low where VAT isn't charged.
Gold should be VAT free but assume it will be charged and you will need to reclaim.
Secondhand silver is also charged 20%.
Unless an EU dealer ships VAT free to the UK you will in effect be paying double VAT - VAT in the country of the dealer plus VAT arriving in to the UK.
Within the EU goods cross borders freely but we are outside the EU now.
 

I see, well that is ridiculous. EU retailers need to do something or I'm guessing they will lose UK business.

[RoughDog]

Price should be ex VAT for UK and VAT is paid on arrival or.

Price should include 20% and VAT is sorted at their side.

 

No way I would pay ex VAT + 19% (or whatever their VAT rate is) + 20% UK VAT.

 

[sovereignsteve]

It's up to these dealers to sort out the vat their side so UK customers don't pay twice.

[Guest]

On 01/02/2021 at 01:05, Goldmiester said:

I see, well that is ridiculous. EU retailers need to do something or I'm guessing they will lose UK business.

Don't worry. Give it a couple of years and businesses will start lobbying for a return to the single market.

[Goldmiester]

5 hours ago, savoyard said:

Don't worry. Give it a couple of years and businesses will start lobbying for a return to the single market.

I think people are starting to realise that even now.