Customs & Excise advice needed

[DebsyDoo]

I want to import some silver jewelry from Thailand (for re-sale) & cannot seem to find out how much I would have to pay in import duty.
I have looked on the official website, but it is still not clear - does anyone have any useful information on this subject please ?

[boxtops]

Does Googling Import Duty Calculator help? There seem to be quite a few web links come up, but I don;t know if you've already tried those. One of them is this one

http://www.dutycalculator.com/

[DebsyDoo]

Thanx for that BT, I'll try it !

[Buenchico]

Import duty on silver jewellery is charged at 2.5%

VAT is then calculated at 17.5%. It's charged on the sum of the value of the goods plus the import duty. (Yes, that's a tax on a tax!).

Then there's a customs examination fee to be paid. For small consignments, imported via the postal system, it's £8 per package. If you're buying by the container load, contact HMRC for details of the inspection fees which would apply.

Chris

[DebsyDoo]

I thought you may come up with something BC !

So - on say, £250 (it's all done in $(US) but min order is $350, so say aprox £250 for round figures) how much do you reckon It'd cost on top ?

Just trying to work out if it's even worth it !!!

Cheers, Deb.

[Buenchico]

Based upon £250:

Import duty = £6.25 (but the duty is waived if it comes to no more than £7, so actually NIL).

VAT = £43.75

Fee = £8

Total to pay = £51.75

Note that the notional import duty is only just below the threshold at which it becomes 'real', so if the value of the goods is only slightly higher you'll also have a few more pounds to pay in duty.

Chris

[DebsyDoo]

Thanx for that, very helpful !

[Mr Veritas]

Hi Debsy,
Well going by Chris figures,I think it works out like this:~
Inital Amount £250.00
Import Duty at 2,5% £6.25
Which makes £256.25
VAT at 17.5% £ 44.84
Which makes £301.09
Plus £8.00 exanination fee gives a round toatl of £ 309.09.
I hope my maths are correct,if not can someone give a more precise fugure?

[DebsyDoo]

Oooer . . . . ?

Now I'm confused !

[123everton]

Don't want to wreck your thread, but, Mr Veritas, I've posted a question in history about Poland in WW2, I wondered if maybe you'd heard anything onthe subject?

[Buenchico]

Yes, Mr V, your maths is excellent - if not your typing speed ;-)

[Buenchico]

Debsy:
I failed to mention, in my original post, that the import duty is waived if it doesn't exceed £7. So Mr V has still counted it and worked out the TOTAL that you would have to pay (INCLUDING the £250 you paid for the goods in the first place).

Chris

[DebsyDoo]

Sorry, but had to say it -

is that "maths IS excellent" or ARE excellent ????

Only joking folks !!