buying engagement ring from usa - import duty & vat

silverteen

Firstly sorry if this is the wrong place to post this.

Ive finally saved up enought to get an antique engagement ring for my girlfriend of 7 years, the only problem is its in the US.

I know that there will be an import tax and vat charged on top of the cost from the US. but i have no idea what % will be added and how i pay it?

any help would be appreciated, ive googled it and came up with no really helpful answers and even tried ringing hmrc! needless to say they were unhelpful.

could some one shed some light on this? i.e how much i would have to pay on top of the price i pay the US jeweler and how and when do i pay the tax?


on a seperate note, the ring is size L and my girlfriend is a M or N, can it be adjusted easily here in the uk? what cost? its 18k white gold.

thanks:)

Caroline_a

Try this.

claire16c

Are you getting it shipped here via the internet and post? Anything over I think about £18 is subject to tax/duty, if they see it when it goes through the postal system. Ive had stuff over this amount before and sometimes it gets caught, sometimes it doesnt. I just got a letter from the royal mail saying how much I needed to pay, and I couldnt collect my parcel until I had paid it.

Yes you should be able to get it adjusted here.

LEJC

With resizing the ring a lot really depends on the style of it as to if it can be resized or not...simple sizing should cost between £20 and £40 depending where you take it...personally I would advise a local independant jeweller rathrer than a chain high street shop...the independant jewellers especially those who make or repair rings om their premises can usually offer a quicker service than a high street chain who will need to send the ring away.

A ring can usually be resized up or down by about 3 sizes easily but only if there is a solid band to the ring...by this I mean think tradiditional ring with band and stones on top extending probably no further than to cover the top third of the ring if that makes sense

If the ring has stones all the way around it similar in style to what is classed a full eternity ring then the size would need to be exact as it cannot be altered...similarly if the band has a fancy engraved pattern extending arond it then thats probably not going to be altered easily...

The other thing that you will need to consider is that the ring you purchase from the US will not be hallmarked to british standards...this isnt a problem it just means that you wont be buying a hallmarked ring... but you may find that if the ring needs altering and its done in the UK then the jeweller may point this out to you...I have in the past spoken to people who think that all gold and metal is the same and therefore all bear a hallmak in the same way a british ring does and can be dissapointed to find that their ring may have a different or no hallmark you will not automatically be able to get it hallmarked here either as the composition of the metals will be different....IF the ring were to ever be sold in the UK by yourself in the future then the fact that it is not hallmarked to british standards MAY have a slight effect on the price you achieve....however I assume that the selling of the ring now would be furthest from your mind!!!!!!

as with all white gold irrespective of its origin it may need re plating over time....white gold is not a solid metal like yellow gold or platinum and so over time it may discolour slightly or wear down to the base metal...its not the easiest metal to keep looking in tip top condition and things that can aid the corrosion process is chemicals in washing up liquid or hand creams....I have seen some rings that need replating every year or so and some that remain shiney for many years..it all depends on how much wear and tear the ring gets when worn! If the ring is antique then presumably it will be in good clean form when it is bought by you....this should be the case if you are buying from a jeweller or reputable outlet in the US but you may want to check the condition of the ring if buying from a private individual....in general re plating should cost araound £30 so again something to consider

The import tax is paid at the point the ring reaches the UK so it will be checked at customs against the declaration given by the sender and shipping/courier company.You will need to check who the sender is intending to use to send the ring to the UK and obtain a tracking number from them in order to track your purchase.The tax is paid on your behalf by the courier company ie someone like DHL or Royal mail but they will not release the goods to you until you settle that bill with them...there is usually also a handling charge imposed by them that you will need to pay...this varies from company to company.

The calculator that a previous poster posted is a really good indication of taxes etc that will be payable...but have you considered looking for an antique ring in the UK....mainly because if you buy from the US you will have to pay import tax but if you buy from the UK second hand jewellery is not subject to VAT therefore you could automatically be saving yourself 20% by not importing it...another thought would be to visit a small manufacturing jeweller with your requirements and design a ring similar to the US one...it may well work out cheaper in the long run than possibly importing and paying tax...

claire16c

LEJC wrote: »

With resizing the ring a lot really depends on the style of it as to if it can be resized or not...simple sizing should cost between £20 and £40 depending where you take it...personally I would advise a local independant jeweller rathrer than a chain high street shop...the independant jewellers especially those who make or repair rings om their premises can usually offer a quicker service than a high street chain who will need to send the ring away.

I agree. My local jewellers resized my husbands ring for £10, some of the chain stores want 4 times that. They also did it in an hour. Ive also had stones replaced in another ring, and the local jeweller charged a fraction of the price the chain wanted.

Gloomendoom

What is the ring made of? Platinum is much harder to resize than gold so it cost more... or so I believe.

Note that the Post Office charge a processing fee for collecting the duty and vat payments. IIRC it is around £7.

alleycat`

Depending on the value and what you've worked out as the tax can you take a nice holiday and wear it on the way back?

Probably isn't strictly "legal" but repeated taxation on old things really cheeses me off.

custardy

claire16c wrote: »

Are you getting it shipped here via the internet and post? Anything over I think about £18 is subject to tax/duty, if they see it when it goes through the postal system. Ive had stuff over this amount before and sometimes it gets caught, sometimes it doesnt. I just got a letter from the royal mail saying how much I needed to pay, and I couldnt collect my parcel until I had paid it.

Yes you should be able to get it adjusted here.

well you didnt get a letter from Royal Mail
a card from RM,or a letter from Parcelforce

the OP would need to clarifiy the shipping method for clarification of fees

k66yla

When I worked on the counter at the sorting office I had a customer come in with a card to pay duty on a ring he bought in the US. £350 excess :eek: must've been some ring thats all I can say! But he paid up, cash, with no arguements

claire16c

custardy wrote: »

well you didnt get a letter from Royal Mail
a card from RM,or a letter from Parcelforce

the OP would need to clarifiy the shipping method for clarification of fees

That sentence doesnt make sense to me.

alleycat` wrote: »

Depending on the value and what you've worked out as the tax can you take a nice holiday and wear it on the way back?

Probably isn't strictly "legal" but repeated taxation on old things really cheeses me off.

Thats what I did with my ring.:)

custardy

sorry,I not quite sure what part you are struggling with