Who Watches the Watchmen (Our Chit Chat Thread)

Time

njburke wrote: »

Same experience here, FedEx expedite through customs by paying the charges and then invoice you. I do miss Japan Post, most of their packages just seemed to pass through customs in Portlaoise.

I refused to pay their handling fee before and it went back and forth, with them insisting I had to pay it. Eventually I sent revenue a cheque for the VAT and duty fedex said was owed, just to spite them. Revenue never cashed the cheque but I also never heard from FedEx again.

banie01

I've not bought from the UK yet post Brexit, but my understanding is TF is spot on.
Certain UK companies that sell into Ireland are VAT registered and will charge Irish VAT.
If you are buying from a UK company not registered for Irish VAT and they are exporting to you.
The should zero rate their VAT and the declaration you pay Irish VAT on will be the UK vat free price.

For certain watches it's surely going to be worth a visit to London to shop and then claim back VAT on exit via taxback shopping scheme.

scwazrh

banie01 wrote: »

I've not bought from the UK yet post Brexit, but my understanding is TF is spot on.
Certain UK companies that sell into Ireland are VAT registered and will charge Irish VAT.
If you are buying from a UK company not registered for Irish VAT and they are exporting to you.
The should zero rate their VAT and the declaration you pay Irish VAT on will be the UK vat free price.

For certain watches it's surely going to be worth a visit to London to shop and then claim back VAT on exit via taxback shopping scheme.

I asked a jewellers in the uk about the VAT being removed from the price as it was an export to Ireland , they said no as they work on a vat margin scheme which means they only pay vat on profit instead of the full price .Not sure how correct this is

C0N0R

From what I've read tax back shopping no longer exists in the uk since the end of December, that was my plan to purchase in London set back slightly.

Although from reading HMRC it can be done from Northern Ireland if you're leaving the uk/eu but I'm unsure if leaving after spending time in England counts. confusing!

Time

scwazrh wrote: »

I asked a jewellers in the uk about the VAT being removed from the price as it was an export to Ireland , they said no as they work on a vat margin scheme which means they only pay vat on profit instead of the full price .Not sure how correct this is

The margin scheme applies to second hand goods only afaik. So for example they buy at 2k and sell at 2.5k then they only VAT only arises for the 500 difference. If it was a brand new watch they could zero rate for export.

banie01

Time is spot on in his explanation.
There should still be an option to zero rate when exporting though IIRC?

banie01

C0N0R wrote: »

From what I've read tax back shopping no longer exists in the uk since the end of December, that was my plan to purchase in London set back slightly.

Jaysus! :eek: you are right, scheme withdrawn!
So Brexit doesn't even have any upside for tourists?
No granted as EU travellers most couldn't take advantage of TaxBack prior to Brexit anyway...(I could as I have Canarian Residency and it's a special tax zone)
But it was the one actual benefit to brexit I could see as a non Brit!

Time

banie01 wrote: »

Time is spot on in his explanation.
There should still be an option to zero rate when exporting though IIRC?

I thought that Brexit had eliminated that as it was no longer intra EU, with an exception allowing it to be applied where goods go to NI but i could be wrong.

Cyclingtourist

Time wrote: »

I thought that Brexit had eliminated that as it was no longer intra EU, with an exception allowing it to be applied where goods go to NI but i could be wrong.

So if you get a refund from the UK and then import it into the ROI aren't you libel for tax?

893bet

Cyclingtourist wrote: »

So if you get a refund from the UK and then import it into the ROI aren't you libel for tax?

You are supposed to declare in Ireland and pay Irish vat is my understanding.

Cyclingtourist

893bet wrote: »

You are supposed to declare in Ireland and pay Irish vat is my understanding.

Yes that's how I understand it also. So people here are lamenting that they aren't being afforded the opportunity of defrauding the Irish state?

Thirdfox

Cyclingtourist wrote: »

So if you get a refund from the UK and then import it into the ROI aren't you libel for tax?

Only if you defame Irish Revenue

And I've never looked into voluntarily trying to pay tax to Revenue for non-taxed items imported into Ireland - I think like Time's cheque - it may never be cashed even if you send them something.

Amazon.co.uk for example take off UK VAT and put on Irish VAT once you go over the £20(?) limit - and then they refund you the pre-charged Irish VAT if it turns out customs don't charge them the Irish VAT on import - I had suspected that they just always pocket the difference but actually got a few emails about refunds going into my bank account for some items which were pre-charged Irish VAT but which never materialised.

893bet

Cyclingtourist wrote: »

Yes that's how I understand it also. So people here are lamenting that they aren't being afforded the opportunity of defrauding the Irish state?

I guess. We all have different moral compasses be it with regards tax or the wearing of snides.

Time

Cyclingtourist wrote: »

Yes that's how I understand it also. So people here are lamenting that they aren't being afforded the opportunity of defrauding the Irish state?

There’s a few different schemes at play though.

When the vat refund scheme existed (which is different to the margin scheme) it was possible to buy cheaper at the airport etc.. all above board

The margin scheme is designed for high value items so that the VAT on them doesn’t outweigh any potential profit, which it would do were second hand watches charged VAT at the standard rate. Unlike company to company private individual selling to the dealer doesn’t charge them VAT so the dealer has no VAT they can reclaim.

Finally you have the intra EU vat scheme, which doesn’t apply to the UK anymore, where exports could be sent with no VAT arising. The exception to that is now NI which qualifies for goods exported into Europe being allowed to be 0% rated for VAT but not services.

Basically the whole thing is a mess since Dec 31st. Before that there wasn’t necessarily a need to defraud the state to get the better price.

banie01

Thirdfox wrote: »

Only if you defame Irish Revenue
.

Any time I've returned with Tax free items purchased abroad it was a declaration on landing.
I can't remember the limits but for some reason €600 is in my mind as the TFA.
Some flights and routes are far more targeted for customs assistance for such items and their declaration.

Edit:
Scratch the €600 the actual TFA for outside EU travel is.

You are entitled to a duty-free allowance if you arrive in Ireland directly from a non-EU country via another EU country, or from the Canary Islands, Channel Islands or Gibraltar. This allowance means you can bring in goods (including gifts, souvenirs, perfume and clothing) free of duty, providing the combined value is not more than:

€430/£312 in the case of an individual aged 15 years or over (approximately 466 US dollars*)
€215/£157 in the case of an individual aged under 15 years (approximately 233 US dollars*)

micks_address

Thirdfox wrote: »

Only if you defame Irish Revenue

And I've never looked into voluntarily trying to pay tax to Revenue for non-taxed items imported into Ireland - I think like Time's cheque - it may never be cashed even if you send them something.

Amazon.co.uk for example take off UK VAT and put on Irish VAT once you go over the £20(?) limit - and then they refund you the pre-charged Irish VAT if it turns out customs don't charge them the Irish VAT on import - I had suspected that they just always pocket the difference but actually got a few emails about refunds going into my bank account for some items which were pre-charged Irish VAT but which never materialised.

I’ve been getting a load of refunds from Amazon all week re vat.. nice they do it

893bet

The under 20 quid limit is gone the end of this month sadly. Vat on everything after that

Cyrus

893bet wrote: »

The under 20 quid limit is gone the end of this month sadly. Vat on everything after that

that was very handy for amazon, all the bits and bobs you tend to buy (especially small technology items) were very cheap for a while there.

893bet

Cyrus wrote: »

that was very handy for amazon, all the bits and bobs you tend to buy (especially small technology items) were very cheap for a while there.

My postman will be glad it’s gone....

NIMAN

893bet wrote: »

My postman will be glad it’s gone....

You'd think postman would be happy he has plenty of parcels to deliver.

If he has nothing to deliver, he has no work.

Pablo_Flox

Speaking of keeping the postman busy, I got my Sinn 60th Anniversary Catalogue delivered this morning.



Content wise it looks to be the same as last years one! But maybe some day it will be a collectors item :-D

banie01

Pablo_Flox wrote: »

Speaking of keeping the postman busy, I got my Sinn 60th Anniversary Catalogue delivered this morning.


Content wise it looks to be the same as last years one! But maybe some day it will be a collectors item :-D

Me too!
I was hoping this edition would have the Noveltys and specials added but no joy.

I think last year's may actually have been prettier?
Or am I being harsh?

893bet

NIMAN wrote: »

You'd think postman would be happy he has plenty of parcels to deliver.

If he has nothing to deliver, he has no work.

I believe the post man gets paid either way!

NIMAN

893bet wrote: »

I believe the post man gets paid either way!

Not when he's made redundant.

scwazrh

banie01 wrote: »

Me too!
I was hoping this edition would have the Noveltys and specials added but no joy.

I think last year's may actually have been prettier?
Or am I being harsh?

Got mine today as well, forgot I ordered it so a nice surprise in with the usual post bills

banie01

banie01 wrote: »

Does anyone have any recommendations for someone to carry out that work in the Limerick area?

Is there any benefit to looking for an additional policy for the jewellery, rather than as an addition to the house insurance?

Just to close out the valuation side of this query if anyone is looking for similar.

Found a few local Jewellers that offer the service.
Keane's, Fields, Tadgh Kearney's, Matthew Stephens and JJ Kennealys all offer valuations.
Price per item varies from €30-€50 and Keane's and Fields will at least wiggle if you are buying something from them too.
That might come in handy as the Mrs is looking for an Eternity ring and if I can swing a deal on getting her rings and earrings and the watches valued at the same time it will suit me fine.

Thanks for all the recommendations on the specialist insurance, particularly Hiscox and Chubb.
I'll get the valuations sorted and added to my house policy for this year and really research the policy in place then for renewal.
Not exactly an art collector, but with a fairly decent comics, comic art, collectibles and model collection I may well be fairly under-insured.

I'm on the hunt now for a decent safe and that will likely be the next purchase so I will be visiting Ryan's and Clifford's locally and taking a look at what's online too.

Time

banie01 wrote: »

I'm on the hunt now for a decent safe and that will likely be the next purchase so I will be visiting Ryan's and Clifford's locally and taking a look at what's online too.

Check out salvage yards for very high spec safes for next to nothing. Got one from Macs Salvage in Islandbridge for about 10% of the cost of a brand new one.

fulladapipes

banie01 wrote: »

Me too!
I was hoping this edition would have the Noveltys and specials added but no joy.

I think last year's may actually have been prettier?
Or am I being harsh?

Me three.

blue5000

https://www.hodinkee.com/articles/our-10-favorite-seikos-of-all-time?utm_source=Editorial%20Newsletter%20Daily&utm_medium=email&utm_campaign=HODINKEE%20Daily%20%7C%2006%2F11%2F2021&_ke=eyJrbF9jb21wYW55X2lkIjogIlVIVEVrVyIsICJrbF9lbWFpbCI6ICJraXRhcm1pdGFnZUB5YWhvby5jb20ifQ%3D%3D

Did your favourite Seiko make it to hodinkee's top 10?

Eoin

Any red flags with this Omega for sale? It looks legit, but apparently the fakes of this model can be very convincing.