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Watch part exchange in Europe

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  • 02-04-2024 2:18pm
    #1
    jagcon1
    Registered Users Posts: 32 ✭


    Hi folks,

    Quick question, I am looking to part exchange 2 watches against a purchase from a dealer in Belgium I would plan on flying over with my two watches, do the deal and fly back. Would there be any issues flying over with the 2 watches. I'd plan to wear the new purchase home and carry the box as hand luggage.

    Is there any issues with this around customs etc, seeing that it's within the EU I don't see any.

    Thanks

    Post edited by jagcon1 on


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  • Options
    #2
    jagcon1
    Registered Users Posts: 32 ✭jagcon1


    Hi I have updated this thread, as I'm looking at Europe.

    Any advice would be appreciated.



  • Options
    #3
    banie01
    Registered Users Posts: 16,481 ✭✭✭✭banie01


    In Europe, as in any of the other 26 EU states, no additional VAT or charges would apply. Anywhere outside the EU, VAT at 23% would be levied. If travelling from the UK as an example, you entered the green channel, and the watch was queried? You would be liable to VAT and potentially additional fine for making a false declaration as choosing the green lane is a defacto customs declaration.

    Of course if one was to purchase an expensive item outside the EU? One would of course use the red channel...

    https://www.revenue.ie/en/customs/individuals/info-travelling-duty-free/from-outside-eu/controls.aspx

    On your earlier question regarding taking watches out of Ireland and into UK? That's a very complicated question. The right way would be an amalgam of carnet and declarations IMO.

    I don't know how the exchange of your 2 watches for a single watch of similar value would be treated if you were unlucky enough to get a tug? But I would imagine Revenue would see the exchange as chargeable for VAT, I don't think the UK has a zero VAT scheme for foreign shoppers yet, so you could well end up with VAT in UK and on import to IRE.

    https://community.hmrc.gov.uk/customerforums/ie/a667b5cd-e02e-ee11-a81c-000d3a8751e3



  • Options
    #4
    jagcon1
    Registered Users Posts: 32 ✭jagcon1


    Thanks Banie01,

    Appreciate your reply. I have decided to go ahead and do a deal with a European dealer in Belgium. I'll fly over with the watches and pick up the new one.

    So as its within the EU theres no issues with travelling with the 2 watches?



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    #5
    banie01
    Registered Users Posts: 16,481 ✭✭✭✭banie01


    https://www.boards.ie/discussion/comment/121970390#Comment_121970390

    No issues at all once within the EU. Please share a photo of 2 of what you trade for over on the photos thread.

    Safe travels👍



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