Post Brexit Buying Musical Items

Post Brexit Buying Musical Items

Post Brexit Buying Musical Items

Post Brexit Buying Musical Items

With all the doom and gloom about trade after Brexit it’s good to know that here at Steelasophical Steel Band Dj  have many years experience importing Electronic gear and musical instruments.

Examples that might affect you.

EU Citizen living in the EU wanting to purchase from someone in the UK

You will not be charged any UK sales tax (VAT), but you will have to pay EU taxes and fees to the courier company prior to delivery. We will provide all necessary paperwork for the couriers to clear the items through to you. Due to the agreement reached between UK/EU the purchase will be tariff free which means there will be no duties payable on goods made in the UK or EU, there may be for products made elsewhere.  Although we can’t influence these charges and cannot predict the amount, you can get a rough idea using this tool.

UK Citizen thinking of buying a goods from an EU dealer. Can I do this?

If you are tempted to buy something, be aware that the extremely cheap prices you will see do not include any taxes and you will be liable for import duties/taxes and clearance fees prior to delivery. This is likely to add about 25% to your invoiced cost. 

Citizen of the world living somewhere other than the UK or the EU

If you want to know approximately how much your import charges will be you can use this tool.

Import Duty Calculator

What is an ‘Import Duty Rate’?

The import duty rate is the rate, percentage or static, charge applied to a good on import into a country when sent from another. Quite often it is a % based on the CIF or FOB value of the shipment. However, sometimes it can be a non-ad valorem charge meaning there is a charge to pay based on criteria other than value. This could be a rate per unit of weight or volume for example.

What does FOB mean?

FOB stands for Free On Board or Freight On Board. With an FOB shipment, the duty is applied to good’s value excluding any shipping or insurance charges. Ultimately it implies that the shipper will be responsible for all of the carrier’s costs and risks until items are on the transportation vessel. Once the goods are loaded the costs and risks then transfer to the buyer.

Some countries use the FOB value to calculate cost of import charges.

What doe CIF mean?

When a CIF — Cost, Insurance and Freight Difference. The seller bears the risks until the goods arrive in the destination port. Ultimately the insure the goods whilst they are on the transportation vessel. With a CIF shipment, the insurance and freight charges are included with the cost of the goods in the total CIF value.

Some countries use the CIF value to calculate cost of import charges.

How Can I find accurate rates?

Assigning customs rates for import your goods from overseas has never been easier. Using our quick tool below, you can easily discover and export the rate for any given country of import. Alternatively, you can use the “Get Duty Rate” app above

Import Duty Calculator Steelasophical Steel Band Hire

What is an ‘Import Duty Rate’?

The import duty rate is the rate, percentage or static, charge applied to a good on import into a country when sent from another. Quite often it is a % based on the CIF or FOB value of the shipment. However, sometimes it can be a non-ad valorem charge meaning there is a charge to pay based on criteria other than value. This could be a rate per unit of weight or volume for example.

What does FOB mean?

FOB stands for Free On Board or Freight On Board. With an FOB shipment, the duty is applied to good’s value excluding any shipping or insurance charges. Ultimately it implies that the shipper will be responsible for all of the carrier’s costs and risks until items are on the transportation vessel. Once the goods are loaded the costs and risks then transfer to the buyer.

Some countries use the FOB value to calculate cost of import charges.

What doe CIF mean?

When a CIF — Cost, Insurance and Freight Difference. The seller bears the risks until the goods arrive in the destination port. Ultimately the insure the goods whilst they are on the transportation vessel. With a CIF shipment, the insurance and freight charges are included with the cost of the goods in the total CIF value.

Some countries use the CIF value to calculate cost of import charges.

How Can I find accurate rates?

Assigning customs rates for import your goods from overseas has never been easier. Using our quick tool below, you can easily discover and export the rate for any given country of import. Alternatively, you can use the “Get Duty Rate” app above