Tyson Posted August 6, 2017 Share Posted August 6, 2017 What kind of charges do you incur when importing parts ? E.g if something cost $140 how much would it be by the time you actually get it ? Link to comment Share on other sites More sharing options...
Dnk Posted August 6, 2017 Share Posted August 6, 2017 Add 20% vat and 4.5% import duty Link to comment Share on other sites More sharing options...
Tyson Posted August 6, 2017 Author Share Posted August 6, 2017 Add 20% vat and 4.5% import duty Thanks Dnk, is that 24.5% of the original value or is one added then other if you understand me ? I.e 140 * 1.2 then 175 * 1.045 or just 140 * 1.245 ? Link to comment Share on other sites More sharing options...
Frank Bullitt Posted August 6, 2017 Share Posted August 6, 2017 (edited) You need to know the shipping and insurance costs as well as the purchase price then convert that total to GBP using the HMRC exchange rates - https://www.gov.uk/government/publications/hmrc-exchange-rates-for-2017-monthly to get the import value. Then calculate the import duty and then calculate the VAT, remember the VAT is paid on the total customs value. Edited August 6, 2017 by Frank Bullitt Link added. (see edit history) Link to comment Share on other sites More sharing options...
Dnk Posted August 6, 2017 Share Posted August 6, 2017 Yep as Frank says the cost is on your total bill Link to comment Share on other sites More sharing options...
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