Importing goods from china to UK, tax question...?

Question

Ive been looking into importing electrical goods in to the uk from china. I have my source ect ect but im a little worryed about the import tax.

Does anyone know what i will have to pay and what the laws are on import tax.

Also any ways around it, ive been told if its declared under £36 and labled gift or samples it will be free of tax....anything other ideas?

Answer 1

If they are samples the invoice needs to state ' Sample Goods Only of no commercial value' and state a nominal value of US$1.00 Import duty is payable on most Chinese imports. Go to the Custome and excise web site and look up your product in the 'Import Tariff'. Alternatively you will have to appoint an Importer/Freight Company to handle the shipment. If you give them a clear enough specification of the products they should be able to tell you what import duty % rate is applicable. Things to be aware of are that the cost price of the goods is based on Custome and Excise daily exchange rate, not the banks. VAT is only payable on the cost of the services you are charged for in the UK, so if you are arranging the import then it will be the Shipment/Carriage costs, insurance, clearance costs and transport to you. Another thing to watch out for are local charges at the Chinese end. If goods are under a certain value you may be liable to pay local port taxes (at the Chinese end). Hope this helps. Unless you have a deferment account, VAT and Import Tax are payable up front before you can get your hands on your consignment. In most instances Import Agents will pay these for you, however they will charge you for using their account and will still require payment upfront before they will deliver the goods.

Answer 2

Not sure how it works outside of the EU, generally any tax that is due is paid on receiving it in this country through whoever delivers it (having received goods from America) so i would speak to whoever is sending out the goods or who will be delivering it and they should be able to give you the specifics.

Answer 3

because you want to ask - "what type of importing and logistical complications/costs/tax would I face?" how the heck are you able to are saying: "...waiting to promote them as a center guy for an effective earnings" you are able to not make a earnings in case you don't understand what your prices are.