ricardob
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Import duties , by ricardob on Apr 6, 2021 7:30:05 GMT 1, Hi
Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything.
If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK?
Thanks for your help
Cheers
Hi
Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything.
If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK?
Thanks for your help
Cheers
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artzzzy
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Import duties , by artzzzy on Apr 6, 2021 7:44:28 GMT 1, It doesn’t matter where it was originally produced.
You have to pay import taxes for any goods entering the country no matter where they were originally produced.
Plus the art taxation system doesn’t take into consideration the nationality of the artist or where the print was actually made etc.
It doesn’t matter where it was originally produced.
You have to pay import taxes for any goods entering the country no matter where they were originally produced.
Plus the art taxation system doesn’t take into consideration the nationality of the artist or where the print was actually made etc.
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Balboa
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Import duties , by Balboa on Apr 6, 2021 8:03:33 GMT 1, Hi Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything. If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK? Thanks for your help Cheers
www.gov.uk/guidance/pay-less-import-duty-and-vat-when-re-importing-goods-to-the-uk-and-eu
You must’ve been the exporter and the return must be within 3 years.
Hi Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything. If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK? Thanks for your help Cheers You must’ve been the exporter and the return must be within 3 years. |
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Balboa
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November 2007
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Import duties , by Balboa on Apr 6, 2021 8:04:47 GMT 1, It doesn’t matter where it was originally produced. You have to pay import taxes for any goods entering the country no matter where they were originally produced. Plus the art taxation system doesn’t take into consideration the nationality of the artist or where the print was actually made etc.
Not strictly true.
It doesn’t matter where it was originally produced. You have to pay import taxes for any goods entering the country no matter where they were originally produced. Plus the art taxation system doesn’t take into consideration the nationality of the artist or where the print was actually made etc. Not strictly true. |
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artzzzy
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January 2021
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Import duties , by artzzzy on Apr 6, 2021 8:34:01 GMT 1, Hi Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything. If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK? Thanks for your help Cheers You must’ve been the exporter and the return must be within 3 years.
Interesting!
But does this apply to art pieces too?
Here in Italy the taxation for art is separate.
If you do a “permanent” exportation you cannot recuperate taxes if you import it again.
Hi Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything. If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK? Thanks for your help Cheers You must’ve been the exporter and the return must be within 3 years. Interesting! But does this apply to art pieces too? Here in Italy the taxation for art is separate. If you do a “permanent” exportation you cannot recuperate taxes if you import it again. |
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laughn0w
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May 2020
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Import duties , by laughn0w on Apr 6, 2021 13:01:00 GMT 1, As far as I understand the 5% import tax for art still applies to imports from the US to the UK. But there is a one year tax relief for any works imported back to the UK from the EU if you can prove that the works where ever in the UK in the past.
This explains it further:
www.mondaq.com/uk/sales-taxes-vat-gst/1026028/uk-import-taxes-on-art-post-brexit
Does anyone know how this exemption works in practice? Does the receiver of the work have to prove it when receiving the tax invoice?
As far as I understand the 5% import tax for art still applies to imports from the US to the UK. But there is a one year tax relief for any works imported back to the UK from the EU if you can prove that the works where ever in the UK in the past. This explains it further: www.mondaq.com/uk/sales-taxes-vat-gst/1026028/uk-import-taxes-on-art-post-brexitDoes anyone know how this exemption works in practice? Does the receiver of the work have to prove it when receiving the tax invoice? |
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ricardob
New Member
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March 2008
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Import duties , by ricardob on Apr 8, 2021 13:35:17 GMT 1, Hi Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything. If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK? Thanks for your help Cheers You must’ve been the exporter and the return must be within 3 years.
Thanks mate, this is very helpful.
Cheers
Hi Genuinely question that just occurred to me. I’ve searched for the answer but couldn’t find anything. If someone is buying a Banksy print (made in UK) from a private seller let’s say in the US, does the buyer need to pay import duties? If so, how much is it? And, if so, why would someone need to pay import duties on something that was originally produced in the UK? Thanks for your help Cheers You must’ve been the exporter and the return must be within 3 years. Thanks mate, this is very helpful. Cheers |
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ricardob
New Member
🗨️ 451
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March 2008
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Import duties , by ricardob on Apr 9, 2021 4:00:07 GMT 1, As far as I understand the 5% import tax for art still applies to imports from the US to the UK. But there is a one year tax relief for any works imported back to the UK from the EU if you can prove that the works where ever in the UK in the past. This explains it further: www.mondaq.com/uk/sales-taxes-vat-gst/1026028/uk-import-taxes-on-art-post-brexitDoes anyone know how this exemption works in practice? Does the receiver of the work have to prove it when receiving the tax invoice?
So for a private sale the buyer in the UK now pays 5% import tax and no VAT, correct? That is pretty low.
As far as I understand the 5% import tax for art still applies to imports from the US to the UK. But there is a one year tax relief for any works imported back to the UK from the EU if you can prove that the works where ever in the UK in the past. This explains it further: www.mondaq.com/uk/sales-taxes-vat-gst/1026028/uk-import-taxes-on-art-post-brexitDoes anyone know how this exemption works in practice? Does the receiver of the work have to prove it when receiving the tax invoice? So for a private sale the buyer in the UK now pays 5% import tax and no VAT, correct? That is pretty low. |
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Import duties , by imblebimble on Apr 14, 2021 11:53:19 GMT 1, Hi - just bought a couple of prints (£1000 total cost) from CM Waller located in Spain and they have just contacted me and said that their transport agent (don't know who yet) is asking for £215 in taxes. This sounds wayyyyyy off.
Hi - just bought a couple of prints (£1000 total cost) from CM Waller located in Spain and they have just contacted me and said that their transport agent (don't know who yet) is asking for £215 in taxes. This sounds wayyyyyy off.
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Import duties , by imblebimble on Apr 14, 2021 11:54:29 GMT 1, CM Walter....sorry
CM Walter....sorry
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Dahmer
Junior Member
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October 2016
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Import duties , by Dahmer on Apr 14, 2021 12:04:45 GMT 1, Sounds like they’re charging 20 percent. Should be 5 percent I believe. I have a pretty good success rate of claiming money back from HMRC and getting my 15 percent back. I’d ask the gallery / company to amend it to state that it’s ‘art’ and if not just claim the money back afterwards
Sounds like they’re charging 20 percent. Should be 5 percent I believe. I have a pretty good success rate of claiming money back from HMRC and getting my 15 percent back. I’d ask the gallery / company to amend it to state that it’s ‘art’ and if not just claim the money back afterwards
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Import duties , by I Dont Know You Know on Apr 14, 2021 12:06:56 GMT 1, Ask for a breakdown Apart from import VAT there are no tariff duties on works of art, collectors' items and antiques when imported into the UK (or the EU), irrespective of their country of origin.
It is important to be aware that the correct commodity codes need to be used on accompanying import documentation to be assured of the lower 5% rate of import VAT, as well as tariff-free entry. These codes can be found within Chapter 97 of the UK Global Tariff.
I suspect there is an admin fee locked up in that quote too
Ask for a breakdown Apart from import VAT there are no tariff duties on works of art, collectors' items and antiques when imported into the UK (or the EU), irrespective of their country of origin.
It is important to be aware that the correct commodity codes need to be used on accompanying import documentation to be assured of the lower 5% rate of import VAT, as well as tariff-free entry. These codes can be found within Chapter 97 of the UK Global Tariff.
I suspect there is an admin fee locked up in that quote too
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stuckeyc
New Member
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November 2011
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Import duties , by stuckeyc on Apr 14, 2021 13:01:56 GMT 1, I just want to say Christian is a very reasonable and fair person. I just had an issue with some paco pomet works I ordered and he went above and beyond to make it right. To paraphrase my daughter 160 gold stars.
I just want to say Christian is a very reasonable and fair person. I just had an issue with some paco pomet works I ordered and he went above and beyond to make it right. To paraphrase my daughter 160 gold stars.
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Import duties , by imblebimble on Apr 16, 2021 10:31:25 GMT 1, ok great thanks for feedback - discussing with Christian now
ok great thanks for feedback - discussing with Christian now
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