Hi Just wanted to know if anyone of you paid additional import VAT on receiving the schweser packet with video cds in UK? It seems UK govt charges all packet for import VAT based on some rule which I have not understood! or is this a new thing to finance the great bank bailout ?
Hi, The UK govt charges VAT on all items imported into the country and having a value higher than £18.00. I don’t know whether this rule is relaxed or if the limit is a bit higher for books/CDs but in general this is how they chagre VAT on any imported item. I have imported a laptop here a couple of years back and this is what was quoted to me by the Home Office.
Printed books are zero rated, so you don’t need to pay VAT on the notes. Video CDs would attract VAT at 17.5% (or 15% from next week (or 20% in a couple of years)) Schweser included a bloody highlighter with my last pack, which attracted VAT of about 8p, and a handling charge of £20. Happy I was not.
£20 on 8p… that’s ridiculous… i guess we have to live with it. Thanks for your inputs.
I was charged on the CD items as well as they are not books.