Welcome to our community

Be a part of something great, join today!

Log in
  • Hey all, just changed over the backend after 15 years I figured time to give it a bit of an update, its probably gonna be a bit weird for most of you and i am sure there is a few bugs to work out but it should kinda work the same as before... hopefully :)

VAT and duty on Stage 2/3?

Jim Retar

Jim Retar

Well-known member
Joined
Oct 21, 2009
Messages
648
Reaction score
0
Points
0
Location
UK / Portugal
I had a thought while contemplating purchasing someone's stage 3 Epic.

Do we pay VAT and duty on the full $28,000 price, or the discounted stage 2/3 price?

Regards, Jay
 
When it comes to EU customers, maybe RED would be able to ship EPIC-X directly from their location outside London?

It could be huge. For UK customers it would mean no duty. For the rest of us EU-shooters no duty plus the option of deducting the 15 % UK VAT. Instead you pay your own country's VAT one year after payment is put down (Sweden). Of course the latter requires that you have a VAT certified company.

Maybe someone from RED could shine some light on this matter, please? Are there any plans on shiping EPIC-X from within EU, that is from UK? Or is shipment US only?
 
Jim Retar said:
Do we pay VAT and duty on the full $28,000 price, or the discounted stage 2/3 price?
Click to expand...

You would obviously only pay VAT and duties of the amount you paid for the product. If you buy something on discount on black friday then you won't be charged VAT and duty off of the normal price.
 
This is not just your average discount though... it is not just a 30% off deal. It is a rebate, which is not something very common here in Europe.

Hopefully you are right though.
 
Tony Lorentzen said:
You would obviously only pay VAT and duties of the amount you paid for the product. If you buy something on discount on black friday then you won't be charged VAT and duty off of the normal price.
Click to expand...

Hi Tony,

That might sound sensible, but I can assure you that it doesn't always work like that in the UK.

When I got the upgraded CF reader for my red, Customs charged me duty and VAT on the full retail value of it, even though it was a free upgrade.
 
VAT and Duty - EU

VAT and Duty - EU

We are currently looking at new products and their pricing for UK distribution.
Any product purchased from RED Europe is priced in UK Sterling and includes appropriate freight and duty charges into the UK(EU).
RED Europe is the importer and from thereon-in, goods are in free transit within the EU.
VAT is charged in the UK, but is zero to any customers not in the UK but within the EU who are VAT registered, or to any customers outside the EU (but additional import duties may then be required).
The amount of VAT is calculated on the invoice total, after any discounts have been applied.
Import duty is always calculated on the full value of the goods.
Note that as of January 4, the VAT rate in the UK will rise from 17.5% to 20%
 
Great news Alan.

VAT is a pain but a necessary evil here as you know. But would be nice to buy and pick up EPIC and accessories without the pain of dealing with HMRC. Pay then claim back! Simples!!!!

Steve
 
Alan

I already made my stage 2 reserve payment.
It is possible to "close the deal" on Red Europe and get my Epic from the UK?
 
I could be wrong, but from memory, the import codes for stills cameras are different to video cameras with the tariff for stills cameras being significantly lower. I'm sure HMRC don't have a code for a digital cinema camera and since technically, Epic isn't a video camera is there any chance of getting the lower rate of duty applied to Epic? :)
 
Liam Hall said:
I could be wrong, but from memory, the import codes for stills cameras are different to video cameras with the tariff for stills cameras being significantly lower. I'm sure HMRC don't have a code for a digital cinema camera and since technically, Epic isn't a video camera is there any chance of getting the lower rate of duty applied to Epic? :)
Click to expand...

That is one of the issues we are dealing with.
It is a complex system with several permutations and we must accurately assign the correct commodity code and then fix that with HMRC.
 
Alan Piper said:
That is one of the issues we are dealing with.
It is a complex system with several permutations and we must accurately assign the correct commodity code and then fix that with HMRC.
Click to expand...

If it's a work in progress, please push for the cheapest possible code, especially for the body only! :biggrin:

I think we can accurately say that it is NOT a video camera as it does not record to any recognised VIDEO format on board. Therefore the closest current designation would be a digital stills camera that just happens to shoot very high frame rates! The fact is that we have to do separate post processing to get "video" out of it.
 
Alan, just make sure that HMRC understand that in order to compete for EXPORT business, duty needs to be an absolute minimum, otherwise we are going to be losing work to other more competitive countries. 90% of my business is international and I certainly need the tools to compete, but more importantly, the Government have their fingers and toes crossed that the private sector are going to save the country from going bankrupt - I'd call them on that. Tell them to put up or shut up and if you want me to have a word with the PM let me know - he owes me a favour, a big one;)
 
You must log in or register to reply here.
Back
Top