UK Import Duty & VAT Reclaim

[Agaupl]

On 06/07/2023 at 18:29, Agaupl said:

I’m importing a RM 1oz gold into Australia and am just waiting to see what happens. It’s 100% free from tax here but doesn’t mean they won’t try, or that the courier will try. 

Update on this. 
All went well and came through no problem. Even when Royal Mint put ‘numismatic item’ on the customs form for a bullion coin. 

[sixgun]

7 hours ago, Ignorant said:

Plus the exaggerated packaging you referred to, it’s obligatory as dictated by insurance companies. Failure to do so will void all coverage. It’s simply an extra layer of protection to prevent tampering.

I don't consider it exaggerated packaging - it has become necessary - i have bought from Paulo a member in Italy - he has his own 'exaggerated' packaging because of previous bad experiences with couriers. 

7 hours ago, Ignorant said:

If one isn’t truthful regarding the contents of a parcel on the customs form, and customs discover it contains precious metals, they’ll permanently seize the goods. It’s no laughing matter. Organized crime love to move wealth around in the way of precious metals. So governments don’t take kindly to being lied to. My advice is to never attempt to deceive customs. Besides, if one doesn’t declare the contents as gold on the customs form, how do you intend to recoup the VAT they may end up charging you? If you want to safeguard against theft or loss, that’s what insurance is for. Never try to deceive customs. Or else it may end up costing you dearly.

As i say goldsilver.be have always stated what was inside the package was something other than precious metal. This is a multi-million euro company. They used to say it was medical supplies sending to England which was at the time in the EU - now for packages inside the EU, they say it is aluminium nails. They say they do this because of thefts - they say when you buy coins on their website. This is a company that sends many thousands of packages a year. They are clearly more concerned about couriers stealing than they are of the customs. i don't know what insurance goldsilver.be has but they are still very concerned about theft.

[Agaupl]

I’ve had ‘tile samples’ before. 

[Ignorant]

8 hours ago, sixgun said:

I don't consider it exaggerated packaging - it has become necessary - i have bought from Paulo a member in Italy - he has his own 'exaggerated' packaging because of previous bad experiences with couriers. 

As i say goldsilver.be have always stated what was inside the package was something other than precious metal. This is a multi-million euro company. They used to say it was medical supplies sending to England which was at the time in the EU - now for packages inside the EU, they say it is aluminium nails. They say they do this because of thefts - they say when you buy coins on their website. This is a company that sends many thousands of packages a year. They are clearly more concerned about couriers stealing than they are of the customs. i don't know what insurance goldsilver.be has but they are still very concerned about theft.

From their website:

GOLDSILVER.BE is fully responsible for the good delivery of the orders. Please read our terms and conditions and the information provided with the tracking link carefully for conditions on deliveries. The customer supports NO risk during transport. 
 

GoldSilver.be apparently assume full responsibility and liability for whatever they decide to declare on customs declarations. My point is that when buying from or selling as a private individual one would do wise not to lie on customs declarations or else it could cost you dearly. Plus a buyer can’t recoup the vat they paid unless the seller is truthful regarding the contents, I.e. investment gold.

Do GoldSilver.be lie regarding the declared value of the goods as well?

I meant exaggerated as in tamperproof as dictated by insurance companies, unlike run of the mill packaging. It’s not only an absolute necessity but also obligatory as per the terms and conditions insurance companies set in regards to packaging, undoubtedly based on previous experiences with stolen goods.

Edited August 1, 2023 by Ignorant

[sixgun]

16 minutes ago, Ignorant said:

Do GoldSilver.be lie regarding the declared value of the goods as well?

i don't know if they lie - they may have separate insurance to that couriers offer. That way they don't have to declare to the courier what the value of the parcel is - and perhaps for intra-EU deliveries they assume it will travel without customs interference. 

[Ignorant]

12 minutes ago, sixgun said:

i don't know if they lie - they may have separate insurance to that couriers offer. That way they don't have to declare to the courier what the value of the parcel is - and perhaps for intra-EU deliveries they assume it will travel without customs interference. 

Correct, customs declarations aren’t required within the EU. You may be right. International armored transport of large quantities of precious metals are handled by specialized companies for which different rules apply.

 

Anyway, my point is that governments demand full transparency/ disclosure from private individuals that engage in precious metals trade across borders.

Edited August 1, 2023 by Ignorant

[SilverJacks]

On 16/06/2023 at 17:12, Minted said:

*Update*

Received a letter from the Border Force in under a week.

VAT is being refunded within 30 days.

However, it looks like I can't get the £12 charge back from ParcelForce.

I could contact EMK and ask them to cover it but I'm fairly sure they'll just say they don't take responsibility for customs in foreign countries.

It does mean the coin ended up costing more than buying from a UK seller, so I'm afraid I won't be using EMK for gold coins again.

Just to clarify for anyone new to PMs, investment gold is VAT free, but silver and platinum are not, so expect to pay VAT on those if bought abroad, as well as in the UK.

 

@Minted When you had the tx refund, was that for just VAT or both VAT & duty?

[Minted]

17 hours ago, SilverJacks said:

@Minted When you had the tx refund, was that for just VAT or both VAT & duty?

Just VAT.  I was only charged VAT on this parcel, no duty.  I didn't know which I'd been charged when I started this thread, but it was itemised on the label when it arrived.

I now believe duty is mainly for things like cigarettes and alcohol but could be wrong there.

[SilverJacks]

5 hours ago, Minted said:

Just VAT.  I was only charged VAT on this parcel, no duty.  I didn't know which I'd been charged when I started this thread, but it was itemised on the label when it arrived.

I now believe duty is mainly for things like cigarettes and alcohol but could be wrong there.

I have been charged for both VAT & duty for a gold coin from US. I'll report back with the outcome soon..

[Earthmetal]

I hope I don't annoy anyone too much by hi-jacking this thread.

I've just bought a used watch from Japan, and DHL are trying to charge me 20% Vat. Is this correct, and if not, what can I do about it?
I paid £334, and the DHL charge is £58 import duty & Vat.

Edited February 10 by Earthmetal
images added

[Skyfiller]

That all looks correct @Earthmetal. 20% VAT. VAT is also applied to the duty. Sometimes it’s just not worth importing second hand goods. 

[Earthmetal]

12 hours ago, Skyfiller said:

That all looks correct @Earthmetal. 20% VAT. VAT is also applied to the duty. Sometimes it’s just not worth importing second hand goods. 

Thank you, the advice is appreciated. I thought there was no Vat on used goods, only new. Obviously this is not the case. Scoundrels!

[Skyfiller]

No VAT on used for an individual if buying something already in the UK as it’s already had the VAT paid when bought new. Importing pretty much anything, new or used, is subject to VAT. I believe on used items if customs think you have undervalued an item on the invoice they can charge VAT and Duty at the price the item was when it was new!

[JamesH]

Just reviving this thread as I contemplate buying a gold bar from the U.S. (from a very well know dealer). As bullion, am I right in thinking it should be exempt of VAT/Import duty? Thanks

[Minted]

13 hours ago, JamesH said:

Just reviving this thread as I contemplate buying a gold bar from the U.S. (from a very well know dealer). As bullion, am I right in thinking it should be exempt of VAT/Import duty? Thanks

Interesting question.  I'm afraid I don't know whether bars are classed in the same way as coins for VAT purposes.  I have only imported gold coins myself.  Bars aren't mentioned on the page I bookmarked.

Investment gold coins (VAT Notice 701/21A) - GOV.UK (www.gov.uk)