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Thanks for the explanation!
Don't they ask for the receipt or that kind for exactly that case?
I'll prepare for the worst of 290€ and hope for the best, I guess.
bibimbap-
No problem. Yep, they just decide what they think it's worth because they know it's probably marked incorrectly.
Emyr's correct to point out my example doesn't take into account import duty. I'm not sure what the threshold is before you start paying it, but you probably will pay is on a pair of wheels. Think I payed it when importing some new DA track hubs a few years ago, but it wasn't much - maybe a quarter of the VAT value.
Just did a quick calc on Dutycalculator.com, which seemed handy for a ballpark figure/worst case scenario of what you might pay (excl. PF handing fee). Maybe try that, then hope to be pleasantly surprised when PF/HMRC ask for less than you were expecting to pay when it arrives :-)
Lukas
@danslecarton Probably, or any similar wholesale Far East site.
The customs fees you might incur are likely to be less than those you've calculated (incl. VAT etc...), because the seller will probably 'undervalue' the items on the shipping slip (they all seem to do this without a buyer asking).
However, Parcel Force will smell a rat when inspecting the package, and likely charge more VAT than they should (for the marked value of the package), based on what they believe the package is actually worth. This usually falls somewhere between what you should owe (based on what you paid), and what you would owe if Parcel Force believed the seller's marked value.
Example:
88x23mm carbon tub rim I ordered in 11/11 sale. Price paid: GBP91.00
Seller's marked value on package shipping slip: USD48.00 (approx. GBP40.00)
VAT should have paid: (20% of GBP91.o0) GBP18.20
VAT would have paid if PF believed seller's marked value: (20% of GBP40.00) GBP8.00
Total should have paid (not incl. PF handing fee): (GBP91.00 + 18.20) GBP109.20
Total would have paid (not incl. PF handling fee): (GBP91.00 + 8.00) GBP99.00
Total import fees actually paid (incl. PF handing fee): GBP21.00
Import fees minus PF handling fee of GBP8.00: GBP13.00
Calculated amount Parcel Force determined the package was actually worth: (20% VAT GBP13.00 x5) GBP65.00
Total amount paid all-in: GBP112.00
Total minus PF handing fee: GBP104.00