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How to calculate the cost of importing an item from the USA?
I'm getting dizzy just trying to figure out how many different costs are involved let alone the actual amount of money that will be charged. I need help!
There's VAT and import duty and customs handling charges, and just the import duty alone seems to be cripplingly expensive.
The item has a value of around £900 plus £150 for shipping; I don't know how to classify it because it doesn't match any of the available categories; I'd describe it as an air-powered motor or pump.
2 Answers
- !Lv 78 years agoFavourite answer
An air-powered motor pump has an import duty rate of 1.7% and import VAT at 20%, payable on the whole £1,050, so total cost approx £1,281.
A handling fee to collect duty/VAT may also be charged on top of this - typically between £8 and £20.
- smahadevan39Lv 78 years ago
Get a CIF proforma invoice from your Importer. Consult your Shipping ( Clearing )Agent. They may may be in a position to tell you the import duty and the clearance and transportation charges.
