question on importing electronic goods from USA into UK?
intended to buy something worth 1800 USD
how much would i need to pay in total?
and how did you work it out?
First you’ll need to add carriage, which won’t be cheap from the USA and, when it arrives you’ll pay Duty and VAT on the goods plus what you paid for shipping.
You will have to pay a combinaton of commision and/or a inflated "buy" rate on the exchange rate to whoever you purchase the US$ from to pay the vendor, be it your bank, credit card company, PayPal etc. On todays exchange rate of $1.98 you’ll probably end up buying at somewhere closer to $1.91.
When the goods arrive the first tax to be applied is Duty. How much you’re charged will depend on which TARIC code applies to your item – there are many different types of electrical goods and the rates vary from zero upwards. Audio/visual equipment tends to be about 14% so we’ll assume that.
HMRC will then add a further 17.5% VAT to the total.
When all that’s added up the carrier who collects the parcel for it’s last leg of the journey will have to pay HRMC on your behalf. They will charge a customs clearance fee for doing so which varies from around £8 to double that for express or high value shipments.
So, we’ll have to make some assumptions for your purposes but they shouldn’t be too far out.
Cost of goods = $1800
Shipping = $100
US$ to GBP @ $1.91/£ = £994.76
+ Duty @ 14% £139.27 = £1134.03
+ VAT @ 17.5% £198.46 = £1332.49
+ Customs Clearance £13.50 = £1345.99
You’ll probably need to factor in a little more to buy a 240V power supply, cable or adaptor to use it on UK mains.
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