Is it just 17.5% on whatever is declared at Customs? or is it more complex than that?
2007-07-15 03:12:26 · 3 answers · asked by ediblefrogribbit 1 in Business & Finance ➔ Taxes ➔ United Kingdom
OK so if its more complex, lets say I want to buy a laptop computer in the US for $2000 and bring it home. What would that cost me in duty tax?
2007-07-15 03:43:03 · update #1
You will have to pay the VAT as well as any duties to H M Customs & Excise.
Returning home with a laptop bag slung over your shoulder isn't likely to attract any attention -- half of the folks on your flight probably are carrying one. I'm just making an observation here -- it's your funeral if you get nicked.
There is one other important issue, more so than the taxes for most folks. If you purchase a laptop in the States and take it home to the UK, the US warranty will be void. If anything goes wonky you'll probably have to pay out of your own pocket for repairs. I live in the States and travel to Europe and the UK frequently on business. On two occasions over the past 5 years I've had system failures that were covered by the warranty whilst traveling. Dell and HP both refused warranty coverage in the UK. I had to get it repaired upon returning to the States.
2007-07-15 08:09:19 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It's more complicated than that. 17.5% is the VAT not the duty. It would also depend if you purchased the item in the EU and paid tax on it.
2007-07-15 10:16:23 · answer #2 · answered by proud walker 7 · 0⤊ 0⤋
No no, its more than that. 17.5% is just the VAT. You still have charges on top of that as well.
2007-07-15 10:22:09 · answer #3 · answered by hampots 3 · 0⤊ 0⤋