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Coinery

Import Tax, Customs & Excise, VAT on Coins

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Anybody ever actually taken this up with Parcelforce and got a definitive answer on what we should be paying on numismatic  items over 100 years old?

The Government advice is a little bit of a challenge https://www.gov.uk/government/publications/notice-362-imported-antiques/notice-362-imported-antiques

What % taxes have you paid on official imports, namely those that have arrived via companies like Heritage, CNG, Davissons, etc., rather than private sales which have slipped under the radar?

 

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Usually the regulation 5% whoever it comes with. Any taxed at 20% I have usually put down to a mistake by the individual concerned as opposed to a company wide lack of knowledge. They all appear to know the rules.

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Personally, I've bought numerous times from abroad.  Virtually all came via Royal Mail within the UK. 

The rules are that for "collectors pieces of numismatic interest" (Tarfif code 9705 00 00) VAT should be adjusted so you effectively pay 5%.  However I've been charged the full 20% on occasions and though I've always got a refund eventually, you don't get compensated for the Royal Mail collection fee which is annoying where you shouldn't have been charged at all! 

Parcelforce, I only ever had one item come by them (from York Coins in the US) and don't remember being charged extra.

Similarly, several other coins including ones I've bought from Stacks and Noble have just arrived and I've not been charged anything.  It all seems very hit and miss really.

VAT on import of coins rules.jpg

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There is one helpful get area that is not taxed where it might otherwise be charged at the 5% and that is the exemption for "investment gold". I was charged on an 1887 £2 at the 5% but when challenged HMRC repaid the duty. As you say though you cannot get back the Royal Mail charge that was wrongly applied in the first place.

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2 hours ago, TomGoodheart said:

However I've been charged the full 20% on occasions and though I've always got a refund eventually,

Could you please explain how one goes about getting a refund.

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I won a 1873 coin from the USA for ~$76. It cost me an extra $15.55 shipping and a further $20.54 import charges, Totalling $112.

These figures are probably given by US Ebay through their secure posting system. It is no fault of the seller, but if the import charge is wrong, I don't see what could be done about it. Perhaps this situation should be sorted out before buying coins for thousands of dollars !

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10 hours ago, Coinery said:

Anybody ever actually taken this up with Parcelforce and got a definitive answer on what we should be paying on numismatic  items over 100 years old?

The Government advice is a little bit of a challenge https://www.gov.uk/government/publications/notice-362-imported-antiques/notice-362-imported-antiques

What % taxes have you paid on official imports, namely those that have arrived via companies like Heritage, CNG, Davissons, etc., rather than private sales which have slipped under the radar?

 

When I won my lovely Richard I penny on the Davisson's auction I received a letter saying I owed import VAT of 12.44 and a clearance fee of 11.25 ... so all in all 23.69 pounds worth of charges on my 300 dollar coin. I never expected this, but I mustn't grumble too much as Davisson's didn't charge buyer commission fees. I just felt a little annoyed by the post office!

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9 hours ago, secret santa said:

Could you please explain how one goes about getting a refund.

https://www.gov.uk/government/publications/import-and-export-application-for-repaymentremission-c285

I think this is the form I used.  Basically I filled in a form and sent it off and eventually got some money back.  Though not the PO Handling Fee.

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3 hours ago, Bernie said:

I won a 1873 coin from the USA for ~$76. It cost me an extra $15.55 shipping and a further $20.54 import charges, Totalling $112.

These figures are probably given by US Ebay through their secure posting system. It is no fault of the seller, but if the import charge is wrong, I don't see what could be done about it. Perhaps this situation should be sorted out before buying coins for thousands of dollars !

Yes.  eBay Global Shipping Programme supposedly makes it easier for buyers to pay import duties upfront.  Unfortunately they do not allow for the fact that there are no import duties on certain items (only VAT is payable on antique coins and none due on books) and so you can end up paying well over what is necessary without any way to recoup the costs.

It used to be sellers could decide to join the programme but I understand it's now by default.  But I simply won't buy such listings now.  In the past where I've explained things to the seller some have been willing to arrange the shipping themselves at reduced cost, but it's a bit of a hassle for them really.

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4 hours ago, Descartes said:

When I won my lovely Richard I penny on the Davisson's auction I received a letter saying I owed import VAT of 12.44 and a clearance fee of 11.25 ... so all in all 23.69 pounds worth of charges on my 300 dollar coin. I never expected this, but I mustn't grumble too much as Davisson's didn't charge buyer commission fees. I just felt a little annoyed by the post office!

But adding in $40 of postage, the figures start to hurt a bit.

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Anything coming from the US these days is costing $20 and up. Having said that, tracked and insured to either Europe or the US is a tenner and more from this country depending on value. 

As for pricing, for the past few years I have tended to use the $ hammer price as the proxy for the price in pounds, delivered. Keeps it simple, because a few pounds either way is neither going to break the bank, nor have a major impact on whether to buy or not.

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Probably the realistic figure, Rob, a straight conversion of $ to £ - makes it difficult to compete against the US buyers though.

I’ll do the maths when my Davisson coin arrives and put it up here!

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You have postage charges from everywhere apart from a coin fair, so I wouldn't worry too much about shipping. The overall cost is only really important when you are buying to sell on. If for the collection, then you will underpay for some and overpay for others. Then it is a question of desirability over price.

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So,

$350 bid on my John penny from Davissons, granted no buyer fee, so happy days.

sterling conversion has turned out:

£251 for the coin

£29 postage (seemed a lot)

£25 Import Vat and handling 

total cost of coin delivered £305 (so very nearly your $ to £ straight conversion, Rob - with buyers fee [had there been one] it would’ve been spot on)

 

so, a quick question, y’all...have Parcel Force used the correct type of charge? I was expecting customs or excise duty, but have been billed for import VAT?

 

Edited by Coinery

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On 07/03/2018 at 9:23 AM, Rob said:

Usually the regulation 5% whoever it comes with. Any taxed at 20% I have usually put down to a mistake by the individual concerned as opposed to a company wide lack of knowledge. They all appear to know the rules.

Hi Rob.

I do pay 20% VAT on modern coins from the states. 5% if older than 100 years and Zero on Gold coins from 1800 (as long as the total price paid is not more than 180% of Gold price). Am I missing something? 

Thanks

Mark

 

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Won a bid on 1902 half crown.£56 global shipping program postage $17 which states no added import tax . Bill comes with added $18.96 import duty. So I have politely asked for the added charges to be withdrawn or charge at the correct rate of 5% and not 35% what they are trying to charge me or they can shove it where the sun don't shine. Really angers me. This is the main reason I won't buy from the states. Even when you think you are covered you' re not:angry:  total was $75 inc shipping $116 talk about taking the piss. Ebay will not scam me crooked bunch of scum 

Edited by zookeeperz

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@zookeeperz do you have any contacts in the States you can send them to in the first place and then ask them to ship them over? It has worked out far cheaper for me to have a friend ship over from the states than to accept the international delivery costs from ebay.

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I have tried in vain to get refunds of import duty where it has been charged at 20%. The process is inoperable.

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13 minutes ago, secret santa said:

I have tried in vain to get refunds of import duty where it has been charged at 20%. The process is inoperable.

Well I am within my rights to refuse payment. they are overcharging me and I am not accepting it. Numismatics items should be sent on customs form 9705000000  and clearly states it should be at the rate of 5% . what is happening is the idiots employed at the GSP ignore the reference number and put in a standard export number that covers everything else not covered in specialised items . I would of swallowed the $27 but $41 they can go swing for it. Do the job properly or not at all. this is ebay' fault not the sender and when I wanted to contact them clicked on the icon. Guess what? yup this page is no longer available or has been removed. I hate the place really hate it. It needs closing down 

Edited by zookeeperz

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1 hour ago, Nonmortuus said:

@zookeeperz do you have any contacts in the States you can send them to in the first place and then ask them to ship them over? It has worked out far cheaper for me to have a friend ship over from the states than to accept the international delivery costs from ebay.

I have stuff from the states from other sites and never have a problem most charge cheaper than I can send it to them for silly money like $4. This is ebay global shipping program not following customs rules properly . Shame as the coins was quite nice and you don't get many 1902 Half crowns for £56. Even though that is probably the correct value seeing as they are over valued but it is an iconic coin so perhaps not :) 

 

Awaiting an email from ebay specialist team lmao. "I am trying to find the best resolution to your problem"  to which I replied "It is very simple charge the correct lawful import tax of 5% which is levied upon coins"

Edited by zookeeperz
update
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Latest news the seller cancelled the sale and said stuff ebay GSP. Put $14 expedite shipping on buy now £69 total inc shipping. Result :) 

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Of course, it has to also be remembered that not every package from the States, or wherever, actually gets checked at all. Many if not most, just get delivered (eventually) in the normal way, with no additional cost. In fact I think all my coins from abroad have just been pushed through the door.  

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I use SHIPITO,

ship my items to a virtually free mailbox in the USA(they charge $2 per item processed but no standing charge) and average shipping costs are $7 or so. This is normally cheaper as most USA sellers offer free postage to the USA so international postage costs $9.

This mailbox allows you to specify what to put on the customs form and i have never been charged the wrong amount(i.e not 5%)

over the last few years send 22 items and all have arrived(even a couple risky £1000 purchases not insured and not tracked came ok)

I can swear by them, have never been upset with what they provide

I have included affiliate link i'm sure you wont mind ;)

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ebay tried to tell me they charged the correct amount so having had just about enough today with one thing or another. I copied and pasted the customs charter in his PM box lmao. And said read this you thick B********d. I guess i'll get reported again. already been banned from the forum lol. Don't you just get enraged when you know they are reading from a dummy card and have no common sense whatsoever? bunch of clowns

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