hlarmy
Junior Member
Posts โข 3,199
Likes โข 64
November 2007
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Paypal Advice, by hlarmy on Nov 3, 2010 20:23:37 GMT 1, Evening all, I need to send quite a large amount of money overseas for a painting. I am paying by paypal and wanted to ask how I can go about making sure I am covered in case the guy does a runner with the money or if the painting turns up in three pieces.
I know that if you send the money as a gift, you cannot claim. Is there anything else I need to be aware of?
Thanks
Evening all, I need to send quite a large amount of money overseas for a painting. I am paying by paypal and wanted to ask how I can go about making sure I am covered in case the guy does a runner with the money or if the painting turns up in three pieces.
I know that if you send the money as a gift, you cannot claim. Is there anything else I need to be aware of?
Thanks
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Warm Gun
Junior Member
Posts โข 4,646
Likes โข 1,130
August 2009
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Paypal Advice, by Warm Gun on Nov 3, 2010 20:27:48 GMT 1, Pay by credit card through paypal is probably the best way to go. (it seems the only guaranteed way to get your money back as the credit card insurance is the best around)....debit cards don't always cover you, even through paypal.
Make sure it's sent registered and insured etc.
Don't send it as a gift....it's just a bloody con, you'll get charged the fees and like you say, you won't be covered.
It probably sounds harsh but if you get the slightest problem, file a claim with paypal straight away.
Pay by credit card through paypal is probably the best way to go. (it seems the only guaranteed way to get your money back as the credit card insurance is the best around)....debit cards don't always cover you, even through paypal.
Make sure it's sent registered and insured etc.
Don't send it as a gift....it's just a bloody con, you'll get charged the fees and like you say, you won't be covered.
It probably sounds harsh but if you get the slightest problem, file a claim with paypal straight away.
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Paypal Advice, by rosstierney on Nov 3, 2010 20:29:12 GMT 1, use a CREDIT card to fund the payment
use a CREDIT card to fund the payment
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hlarmy
Junior Member
Posts โข 3,199
Likes โข 64
November 2007
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Paypal Advice, by hlarmy on Nov 3, 2010 20:37:18 GMT 1, Cheers Warmgun and Ross, my paypal is linked to my current account so that's great advice; I'm make sure I use the credit card. Cheers
Cheers Warmgun and Ross, my paypal is linked to my current account so that's great advice; I'm make sure I use the credit card. Cheers
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Paypal Advice, by Brushstrokes 75 on Nov 3, 2010 20:41:29 GMT 1, Humm try to go through ebay... Basically, if you go through paypal only. You won't be insured if the piece arrives in 3 pieces or if the guy send you a piece of paper..
Outside ebay paypal will only treat your dispute if you didn't receive anything at all!
Humm try to go through ebay... Basically, if you go through paypal only. You won't be insured if the piece arrives in 3 pieces or if the guy send you a piece of paper..
Outside ebay paypal will only treat your dispute if you didn't receive anything at all!
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hlarmy
Junior Member
Posts โข 3,199
Likes โข 64
November 2007
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Paypal Advice, by hlarmy on Nov 3, 2010 20:43:32 GMT 1, Cheers Brushstroke et al, but the purchase is not through paypal so c'est no possible!!
Cheers Brushstroke et al, but the purchase is not through paypal so c'est no possible!!
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Paypal Advice, by Brushstrokes 75 on Nov 3, 2010 20:47:55 GMT 1, Use escrow.com otherwise lol
Use escrow.com otherwise lol
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hlarmy
Junior Member
Posts โข 3,199
Likes โข 64
November 2007
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Paypal Advice, by hlarmy on Nov 4, 2010 0:16:51 GMT 1, One more dilemma I am facing is whether to ask the seller to insure the piece for the full amount (about $1k) and thus incur customs / import VAT, or whether to ask the seller to mark it as a gift - the latter will mean no customs / VAT but also no insurance if the piece is damaged.
Is there anyway around this ie. is it possible to insure the items up to the full amount without incurring the customs / import VAT charges?
Cheers all
One more dilemma I am facing is whether to ask the seller to insure the piece for the full amount (about $1k) and thus incur customs / import VAT, or whether to ask the seller to mark it as a gift - the latter will mean no customs / VAT but also no insurance if the piece is damaged. Is there anyway around this ie. is it possible to insure the items up to the full amount without incurring the customs / import VAT charges? Cheers all
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securityman
New Member
Posts โข 356
Likes โข 86
August 2008
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Paypal Advice, by securityman on Nov 4, 2010 7:30:54 GMT 1, i think the import tax is only 5% on works of art.
i think the import tax is only 5% on works of art.
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hlarmy
Junior Member
Posts โข 3,199
Likes โข 64
November 2007
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Paypal Advice, by hlarmy on Nov 4, 2010 7:47:20 GMT 1, i think the import tax is only 5% on works of art.
Interesting - does that mean I can put down the full value and only be taxed a total of 5% - am I correct in thinking I will need to import tax and VAT?
Need to sort this out asap so any further advice today would be much appreciated.
i think the import tax is only 5% on works of art. Interesting - does that mean I can put down the full value and only be taxed a total of 5% - am I correct in thinking I will need to import tax and VAT? Need to sort this out asap so any further advice today would be much appreciated.
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craigf
Full Member
Posts โข 8,557
Likes โข 846
May 2007
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Paypal Advice, by craigf on Nov 4, 2010 7:56:19 GMT 1, if its an original piece of art the rate is 5%, but you may get a higher (full rate) charge and then need to claim it back. The VAT is in effect your import tax, but you may also be charged a handling fee by the courier.
I'd get sent fully insured and at full value as I'd rather pay ยฃ100 odd quid in VAT than loose ยฃ1000 through damage etc
if its an original piece of art the rate is 5%, but you may get a higher (full rate) charge and then need to claim it back. The VAT is in effect your import tax, but you may also be charged a handling fee by the courier.
I'd get sent fully insured and at full value as I'd rather pay ยฃ100 odd quid in VAT than loose ยฃ1000 through damage etc
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hlarmy
Junior Member
Posts โข 3,199
Likes โข 64
November 2007
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Paypal Advice, by hlarmy on Nov 4, 2010 7:59:36 GMT 1, if its an original piece of art the rate is 5%, but you may get a higher (full rate) charge and then need to claim it back. The VAT is in effect your import tax, but you may also be charged a handling fee by the courier. I'd get sent fully insured and at full value as I'd rather pay ยฃ100 odd quid in VAT than loose ยฃ1000 through damage etc
... and for future reference, is that the same for prints or are these charged at a higher rate?
if its an original piece of art the rate is 5%, but you may get a higher (full rate) charge and then need to claim it back. The VAT is in effect your import tax, but you may also be charged a handling fee by the courier. I'd get sent fully insured and at full value as I'd rather pay ยฃ100 odd quid in VAT than loose ยฃ1000 through damage etc ... and for future reference, is that the same for prints or are these charged at a higher rate?
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hlarmy
Junior Member
Posts โข 3,199
Likes โข 64
November 2007
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Paypal Advice, by hlarmy on Nov 4, 2010 8:05:10 GMT 1,
Thanks all, I think I am clued up now.
Bigboss, did you see I asked the same question in that thread you posted - shows how good my memory is
Thanks all, I think I am clued up now. Bigboss, did you see I asked the same question in that thread you posted - shows how good my memory is
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craigf
Full Member
Posts โข 8,557
Likes โข 846
May 2007
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Paypal Advice, by craigf on Nov 4, 2010 8:21:08 GMT 1, VAt is 17.5% not 15% these days going up to 20% in the new year!
VAt is 17.5% not 15% these days going up to 20% in the new year!
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Paypal Advice, by Brushstrokes 75 on Nov 4, 2010 9:54:31 GMT 1, I rhink that it's more complicated than that. Not sure about the UK though (but think that it's should quite similar in every country in the UE...
In France, Original works are subjet to a reduce tax on 5% only if the works are coming from the artists or its heirs (I thought for a long time that OG had a reduced cost and prints didn't..).
It depends how often you're buying stuff at this price.. But if you pay 10 times the insurance cost + full VAT (if it's not coming directly from the artist..), you'll end spending more money on insurance than on the loss of 1 of the work....
I rhink that it's more complicated than that. Not sure about the UK though (but think that it's should quite similar in every country in the UE...
In France, Original works are subjet to a reduce tax on 5% only if the works are coming from the artists or its heirs (I thought for a long time that OG had a reduced cost and prints didn't..).
It depends how often you're buying stuff at this price.. But if you pay 10 times the insurance cost + full VAT (if it's not coming directly from the artist..), you'll end spending more money on insurance than on the loss of 1 of the work....
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stickitup
New Member
Posts โข 447
Likes โข 3
June 2007
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Paypal Advice, by stickitup on Nov 4, 2010 13:08:48 GMT 1, worth noting (as someone who imports art) the import VAT will be 5%, however on works of art to get original status they must be of an edition of no larger than 8. However prints are a bit of a grey area and you may be best asking HMRC first, when I asked them they said in the eyes of HMRC it has to be an edition which is obviously limited.....The question here then becomes how do you define a limited edition, as an example I said to them if the edition is 50,000 does that count as limited to which they said no, however they couldn't put a figure on what was a limited run. I would estimate (although this is just my opinion) a print edition of 1000 constitutes limited edition status. If in doubt on the import pay the VAT and get the item insured - its the only way. Or get it gifted at a lower value and if you need to make an insurance claim the lower value will be the one applicable.
worth noting (as someone who imports art) the import VAT will be 5%, however on works of art to get original status they must be of an edition of no larger than 8. However prints are a bit of a grey area and you may be best asking HMRC first, when I asked them they said in the eyes of HMRC it has to be an edition which is obviously limited.....The question here then becomes how do you define a limited edition, as an example I said to them if the edition is 50,000 does that count as limited to which they said no, however they couldn't put a figure on what was a limited run. I would estimate (although this is just my opinion) a print edition of 1000 constitutes limited edition status. If in doubt on the import pay the VAT and get the item insured - its the only way. Or get it gifted at a lower value and if you need to make an insurance claim the lower value will be the one applicable.
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Paypal Advice, by rosstierney on Nov 4, 2010 16:09:23 GMT 1, To increase your chances of being charged 5% the first time round, on the shipping documents, have the seller describe the contents as:
'original artwork (painting), tariff heading 9701'
Otherwise, you'll more than likely have to pay 17.5% then go through ball ache.
To increase your chances of being charged 5% the first time round, on the shipping documents, have the seller describe the contents as:
'original artwork (painting), tariff heading 9701'
Otherwise, you'll more than likely have to pay 17.5% then go through ball ache.
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Pupster
New Member
Posts โข 804
Likes โข 154
January 2008
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Paypal Advice, by Pupster on Nov 4, 2010 18:35:34 GMT 1, Good luck Hlarmy..
Just watch the VAT.. seems everytime I purchase from the USA the Welsh Tax guys and gals hit me with full whack!!.. Could by a flock of sheep the amount they have had off me this year!..... and I begrudge heading to the sorting office here in Cardiff and being told 'its nothing to do with us' ... give us your money!...
Pupster.
Good luck Hlarmy..
Just watch the VAT.. seems everytime I purchase from the USA the Welsh Tax guys and gals hit me with full whack!!.. Could by a flock of sheep the amount they have had off me this year!..... and I begrudge heading to the sorting office here in Cardiff and being told 'its nothing to do with us' ... give us your money!...
Pupster.
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