Customs tax help

Jek88

Does anyone know how customs tax is worked out?

I'm looking at buying our wedding rings from Pompeii 3 in USA which would total $800 or £470

Could anybody help me with a rough idea of the custom tax I would pay? I have contacted pompeii 3 direct who say they are not sure

Thanks in advance xx

Fruit_and_Nut_Case

You could try this web site. It's not official so I can't guarantee accuracy but it might give you a rough idea.

antrobus

Jek88 wrote: »

Does anyone know how customs tax is worked out?

I'm looking at buying our wedding rings from Pompeii 3 in USA which would total $800 or £470

Could anybody help me with a rough idea of the custom tax I would pay? I have contacted pompeii 3 direct who say they are not sure

Thanks in advance xx

The official Trade Tariff website is at https://www.gov.uk/trade-tariff.

But whatever the duty is, it's likely to be less signicant than the VAT which will be 20%, or another £94.

nikki1520

Assuming the rings are of precious metal (gold or platinum) they go in chapter 71 of the tariff. The duty rates are 2 or 2.5% depending on whether the work is performed by a goldsmith.

Assuming the company you are using is a jeweller and not a goldsmith then the calcultation looks a bit like this:

US$800 (plus cost of postage & packaging and insurance if extra)
Converted using official exchange rate (not the one in the paper, the HMRC one)
multiply by 2.5% - this is the amount of customs duty.
Add this to the original converted figure - value + p&p+ insurance + customs duty and multiply by 20% to get the VAT.

Then add on the clearance charge of your (or your suppliers chosen courier/delivery company) ranging from £8 to about £17

Bob's your uncle. Good luck with the wedding

Jek88

So that's just exploded my brain : / haha

They rings are both 9ct white gold and each has approx 0.75ct of diamonds.

The rings total $750 and express shopping with ups is $50
It doesn't say anything about having to pay VAT on-top or insurance?

Iv never ordered anything from the USA so I'm sorry if this is obvious to some of you.


Thank you all for your help so far 😊

mjm3346

The VAT is added at this end, the supplier in the USA doesn't have to quote/know what it is, their only concern would be any taxes due in the USA.

Jek88

Fruit_and_Nut_Case wrote: »

You could try ]. It's not official so I can't guarantee accuracy but it might give you a rough idea.

Brilliant!! It calculated everything and the final fee to be added is £105 giving me a grand total of £564 not bad for 18ct of white gold and 1.5ct of diamonds : )

Thank you all for your help it's very much appreciated. X