Are there taxes from items purchased in the UK?


Hi guys,

I was thinking of purchasing some speakers from the UK since the dollar-pound exchange rate has become favorable over the past couple of months. Are there any duty taxes, custom taxes, etc that I need to factor in before deciding on purchasing the speakers and having them shipped to the US?

Thanks.

- Doc_stereo
doc_stereo

Showing 1 response by markphd

You will pay a brokerage fee to whoever does the customs paperwork for you when they are imported. This fee can vary significantly depending on who does it. You can have the shipper do it or hire a separate brokerage firm to do it. You will also pay customs duty unless the item is covered by a free trade agreement between the U.S. and the U.K. (I don't believe this is the case) Whether you pay state or federal taxes on top of brokerage and duty is up to your government( I'm not in the U.S. so I can't comment on your local taxes).

I would suggest first looking to see if you can get the item already in the U.S., new or used, on Audiogon, for example. You'll get a better handle on what you'll have to pay because brokerage, duties, and possible taxes, will not be a factor. Just shipping.

Be very careful about lying and undervaluing items to reduce taxes, etc. if you import. Customs people know what things are worth. They've seen it all. You'll end up with your name on some government list somewhere as possibly being involved in terrorist money laundering. Then all of a sudden your phone is tapped and you have trouble boarding planes. Sounds paranoid, but that's the way it is these days in the post 9/11 era.