New regulations are coming in Jan for shipments to the UK that might prevent a lot of dealers selling to customers in the UK. Just curious as to whether any of the dealers or UK collectors on this forum have any thoughts about how it will affect them. These are the new rules ....
From 1 January 2021, the value-added tax (VAT) applicable to
commercial items valued at £15 – £135 entering the UK will now be expanded to
£0 – £135 (inclusive), meaning the £15 lower limit is abolished. The VAT on
these items will also now have to be pre-paid.
If you sell goods to customers in the UK, from January 2021 you'll need to
pre-pay VAT to avoid additional costs. To do this, you'll need to ensure you
GB Economic Operator Registration and Identification (EORI) number before
shipping your goods
HS Tariff Code required to make a customs declaration and calculate duties
on an import
customs value of goods – needed to make a customs declaration and
calculate duties on import.
We recommend you
prepare for the application of the VAT scheme to your business by considering
the changes and where appropriate applying for an EORI number
in advance. It can take up to a week to get one, so register early.