Alan Piper
Red Team
We often get asked about the price difference between RED product purchased in the UK and that which is purchased direct with the US.
So, for clarity;
RED Europe is a wholly owned subsidiary of RED Digital Cinema and currently retails RED product priced in UK Sterling - we will shortly be able to sell product priced in Euros.
We endeavour to stay as close to the Dollar list price as practicable. We do not mark up the price.
UK prices are calculated using a prevailing foreign exchange rate to which is then added the cost of freight and insurance from the US to the UK plus the Import Duty required for the EU.
Each different product attracts a different rate of Import Duty but as a guide, an entire camera package will be uplifted from US list price by approximately 6%
A camera body attracts 4.9% and an LCD monitor 14% for example.
Once imported into the UK, RED products are thereafter in free transit within the EU.
Some people are of the opinion that they can import RED products and avoid paying the Import Duty, and/or declare the products as zero rated.
HMRC, the UK customs agency, as well as the customs agencies of other EU countries, retain the right to revisit import entries and demand corrective duties where they deem appropriate.
RED Digital has spent a great deal of time with numerous experts ensuring that our goods are declared appropriately and correct duties are levied and paid.
In the event that we have made an error, it would be RED Europe as the importer who would be liable for any remedial payment, not the end user.
Beyond this, the only further costs are shipping from the UK office to a final destination and VAT where applicable;
All goods sold within the UK are subject to UK VAT at the prevailing rate.
Goods sold and shipped outside the UK but within the EU to customers who can provide a valid VAT registration number will not attract VAT.
Any goods collected at the UK office will attract VAT unless we have a proof of shipment document, such as a courier AWB.
Goods exported from the UK to a non EU country will not attract VAT, however those goods will remain EU Duty paid and that cannot be refunded.
So, for clarity;
RED Europe is a wholly owned subsidiary of RED Digital Cinema and currently retails RED product priced in UK Sterling - we will shortly be able to sell product priced in Euros.
We endeavour to stay as close to the Dollar list price as practicable. We do not mark up the price.
UK prices are calculated using a prevailing foreign exchange rate to which is then added the cost of freight and insurance from the US to the UK plus the Import Duty required for the EU.
Each different product attracts a different rate of Import Duty but as a guide, an entire camera package will be uplifted from US list price by approximately 6%
A camera body attracts 4.9% and an LCD monitor 14% for example.
Once imported into the UK, RED products are thereafter in free transit within the EU.
Some people are of the opinion that they can import RED products and avoid paying the Import Duty, and/or declare the products as zero rated.
HMRC, the UK customs agency, as well as the customs agencies of other EU countries, retain the right to revisit import entries and demand corrective duties where they deem appropriate.
RED Digital has spent a great deal of time with numerous experts ensuring that our goods are declared appropriately and correct duties are levied and paid.
In the event that we have made an error, it would be RED Europe as the importer who would be liable for any remedial payment, not the end user.
Beyond this, the only further costs are shipping from the UK office to a final destination and VAT where applicable;
All goods sold within the UK are subject to UK VAT at the prevailing rate.
Goods sold and shipped outside the UK but within the EU to customers who can provide a valid VAT registration number will not attract VAT.
Any goods collected at the UK office will attract VAT unless we have a proof of shipment document, such as a courier AWB.
Goods exported from the UK to a non EU country will not attract VAT, however those goods will remain EU Duty paid and that cannot be refunded.
