Goods are coming in from USA to UK. I want to be able to sell these in the UK but currently the IMPORT DUTY that gets charged would erode all of the profit margin. How can I not pay IMPORT DUTY, assuming all of the goods coming from the USA will be sold in the UK?
2007-05-14 21:14:37 · 7 answers · asked by wanttaxadvice 1 in Business & Finance ➔ Taxes ➔ United Kingdom
I think you should find out if there are any goods that do not attract Import Duty and concentrate on selling those. Unless you`re into illegalities,that`s probably the only way to do it.
2007-05-14 21:21:16 · answer #1 · answered by Anthony R 2 · 0⤊ 0⤋
The process you need is known as 'smuggling' :-)
Now you know why goods are cheaper in USA than in UK .. by the time Importers have paid VAT and Import Duty, $100 becomes £100 ...
It's "Rip Off Britain" all right = but it's our own Government that's doing the ripping off :-)
NB. A lot of sellers on eBay make their customers pay ... (often small packages worth less than about £35 are allowed through w/o duty..)
2007-05-14 21:32:58 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋
You can import goods up to the value of £18 without attracting duty, so for example if you were importing dvds and each dvd was shipped seperately then you could do it. However of course, you couldn't legally sell them.
Goods sent from a friend or relative can be up to £36 in value and marked as a gift, however, they can not come from a company or they'll ignore the gift value and the £18 limit will apply.
Of course, sometimes you get lucky
2007-05-14 23:09:59 · answer #3 · answered by Jamie . 2 · 0⤊ 0⤋
Evasion of import tax is a criminal offence!
I suggest you try to source your goods elsewhere or buy at a cheaper price to acheive your margin aspirations. It is not a good omen for your business if you set out with the intention of avoiding your tax liabilities and it could land you with a fine, or even a prison sentence!
2007-05-14 23:24:31 · answer #4 · answered by nivagh 2 · 0⤊ 0⤋
Import duty is a way of protecting Brirish jobs in what is left of our manufacturing industry. What you are after is called tax evasion.
2007-05-14 21:18:48 · answer #5 · answered by Jon Soundman 4 · 0⤊ 0⤋
make sure you send the item as a gift in on the postage label,that way they cant charge you. naughty naughty,lol hope that helps lol xx
2007-05-14 21:18:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Make a decent living like the rest of us - you want everything for free?!!!
2007-05-14 21:24:33 · answer #7 · answered by forgetmenot1908 3 · 1⤊ 1⤋