highflyer
Junior Member
Posts โข 1,350
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July 2014
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Buying in the US and shipping to the UK - Tax, by highflyer on Aug 6, 2017 18:27:35 GMT 1, Is there a way to not pay import taxes if buying a piece of art from the US on the secondary market and having it shipped by the private seller to the UK? Thanks in advance for any help.
Is there a way to not pay import taxes if buying a piece of art from the US on the secondary market and having it shipped by the private seller to the UK? Thanks in advance for any help.
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Art Fan 2011
Junior Member
Posts โข 4,671
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February 2012
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Buying in the US and shipping to the UK - Tax, by Art Fan 2011 on Aug 6, 2017 19:02:23 GMT 1, Is there a way to not pay import taxes if buying a piece of art from the US on the secondary market and having it shipped by the private seller to the UK? Thanks in advance for any help.
The only way is too ask the seller to mark the item at a minimal value ($10) - apart from that you will be stuck paying some duties/fees
Is there a way to not pay import taxes if buying a piece of art from the US on the secondary market and having it shipped by the private seller to the UK? Thanks in advance for any help. The only way is too ask the seller to mark the item at a minimal value ($10) - apart from that you will be stuck paying some duties/fees |
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highflyer
Junior Member
Posts โข 1,350
Likes โข 671
July 2014
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Buying in the US and shipping to the UK - Tax, by highflyer on Aug 6, 2017 19:12:56 GMT 1, Is there a way to not pay import taxes if buying a piece of art from the US on the secondary market and having it shipped by the private seller to the UK? Thanks in advance for any help. The only way is too ask the seller to mark the item at a minimal value ($10) - apart from that you will be stuck paying some duties/fees
Ok thanks. But then if I have it insured for say $10,000 would that cause an issue or is that completely separate?
Thanks again
Is there a way to not pay import taxes if buying a piece of art from the US on the secondary market and having it shipped by the private seller to the UK? Thanks in advance for any help. The only way is too ask the seller to mark the item at a minimal value ($10) - apart from that you will be stuck paying some duties/fees Ok thanks. But then if I have it insured for say $10,000 would that cause an issue or is that completely separate? Thanks again |
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loartve
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Posts โข 120
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January 2016
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Buying in the US and shipping to the UK - Tax, by loartve on Aug 6, 2017 19:21:49 GMT 1, Not legally, no
Not legally, no
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highflyer
Junior Member
Posts โข 1,350
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July 2014
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Buying in the US and shipping to the UK - Tax, by highflyer on Aug 6, 2017 19:28:22 GMT 1,
Well seems like the law don't mean much over that way these days.
So anyone that can help Re the insurance query please do. Thanks in advance
Well seems like the law don't mean much over that way these days. So anyone that can help Re the insurance query please do. Thanks in advance |
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chainsaw
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Posts โข 130
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June 2017
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Buying in the US and shipping to the UK - Tax, by chainsaw on Aug 6, 2017 20:09:07 GMT 1, for customs/import insurance value/declared value plus postage costs is the value of item for import purposes.
You insure it and take the hit, or don't insure it and take th risk.
for customs/import insurance value/declared value plus postage costs is the value of item for import purposes.
You insure it and take the hit, or don't insure it and take th risk.
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stelio
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Posts โข 391
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May 2014
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Buying in the US and shipping to the UK - Tax, by stelio on Aug 6, 2017 20:20:37 GMT 1, for customs/import insurance value/declared value plus postage costs is the value of item for import purposes. You insure it and take the hit, or don't insure it and take th risk.
Not entirely true.
You can make low value on the postage and then use a third party insurance company to insure the parcel. Although most place like shipsaver.com shipsurance have a $2500 max. This is what I do when shipping across the pond. Gets the package there with low value and still has insurance if something wonky happens.
for customs/import insurance value/declared value plus postage costs is the value of item for import purposes. You insure it and take the hit, or don't insure it and take th risk. Not entirely true. You can make low value on the postage and then use a third party insurance company to insure the parcel. Although most place like shipsaver.com shipsurance have a $2500 max. This is what I do when shipping across the pond. Gets the package there with low value and still has insurance if something wonky happens. |
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Octopus UK
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Posts โข 869
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February 2007
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Buying in the US and shipping to the UK - Tax, by Octopus UK on Aug 8, 2017 21:39:49 GMT 1, Taxes are the price we pay for a decent society.
Taxes are the price we pay for a decent society.
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highflyer
Junior Member
Posts โข 1,350
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July 2014
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Buying in the US and shipping to the UK - Tax, by highflyer on Aug 8, 2017 21:48:09 GMT 1, Ooof, that's a debatable one!
Ooof, that's a debatable one!
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snoozy
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Posts โข 881
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July 2015
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Buying in the US and shipping to the UK - Tax, by snoozy on Aug 8, 2017 23:53:38 GMT 1, I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that.
They lower value invoice was what the customs in UK used as value, the real value was invoiced below.
Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice.
Worked fine.
I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that.
They lower value invoice was what the customs in UK used as value, the real value was invoiced below.
Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice.
Worked fine.
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andyroo0312
Junior Member
Posts โข 2,174
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July 2011
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Buying in the US and shipping to the UK - Tax, by andyroo0312 on Aug 9, 2017 0:32:03 GMT 1, I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that. They lower value invoice was what the customs in UK used as value, the real value was invoiced below. Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice. Worked fine.
I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that. They lower value invoice was what the customs in UK used as value, the real value was invoiced below. Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice. Worked fine. I have had this done from a few galleries as well. Most galleries are happy to work with you on this as they normally have in house insurance. If its a private seller then they will have to use a third party specialist insurer but most seem to have a max of $5000 or there abouts. I have been very lucky in the past buying off private sellers and getting them to put value at $990 ( we are allowed the first $1000 tax free down here ) even tho the print cost $5-6k but its a gamble. If you take that road work with the seller and get them to use a 6" plumbers pvc pipe which is basically indestructible. It may cost a little more in postage due to the extra weight but its worth it. For anything over $1000 i only use pvc if rolled and 1cm cardboard and 3ply board on the outer if shipping flat. Good luck.... |
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loartve
New Member
Posts โข 120
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January 2016
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Buying in the US and shipping to the UK - Tax, by loartve on Aug 9, 2017 6:40:20 GMT 1, It won't help you now but give it a few years, and hopefully this issue will no longer exist!
I've not heard of the double invoicing method, interesting
It won't help you now but give it a few years, and hopefully this issue will no longer exist!
I've not heard of the double invoicing method, interesting
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Octopus UK
New Member
Posts โข 869
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February 2007
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Buying in the US and shipping to the UK - Tax, by Octopus UK on Aug 9, 2017 17:40:27 GMT 1, I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that. They lower value invoice was what the customs in UK used as value, the real value was invoiced below. Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice. Worked fine.
I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that. They lower value invoice was what the customs in UK used as value, the real value was invoiced below. Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice. Worked fine. I'm not a tax expert, but this sounds fraudulent. |
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chainsaw
New Member
Posts โข 130
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June 2017
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Buying in the US and shipping to the UK - Tax, by chainsaw on Aug 9, 2017 18:03:54 GMT 1, Could be, but, buying a print with the intention of reselling could be classed as trading and be taxable as a business, especially if you do it more than once.
And not paying the full tax on importation, would probably mean you can't claim full costs against sale price.
Could be, but, buying a print with the intention of reselling could be classed as trading and be taxable as a business, especially if you do it more than once. And not paying the full tax on importation, would probably mean you can't claim full costs against sale price. |
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aml
New Member
Posts โข 258
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August 2017
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Buying in the US and shipping to the UK - Tax, by aml on Aug 9, 2017 19:12:16 GMT 1, I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that. They lower value invoice was what the customs in UK used as value, the real value was invoiced below. Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice. Worked fine. I'm not a tax expert, but this sounds fraudulent.
I've bought from a gallery in US and they were very helpful and understanding... basically (just made up numbers) the print was $20,000 and they took 2 payments, 1 for $200 which they used for invoice and the second payment of $19,800 for the print which was insured for that. They lower value invoice was what the customs in UK used as value, the real value was invoiced below. Not sure that is clear, but basically it was fully insured but the UK only saw $20 as value on the top invoice. Worked fine. I'm not a tax expert, but this sounds fraudulent. It is fraud, without a doubt. |
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