Brendan Burgess
Founder
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Up to last year if I bought a painting or an antique in London, there was nothing further to pay other than the price I paid the gallery or auction house.
What is the situation now?
My understanding is that if I bought a painting from a gallery for £ 1,100 last year, the net price was £1,000 and they charged me £100 VAT. I never had to worry about it as I just got an invoice for the £1,100.
But presumably they won't be charging me VAT any more as it's an export outside the EU.
I presume I would have to pay VAT at the point of entry when bringing it home.
And would I have to pay customs duty?
Where can I find out about this?
Brendan
What is the situation now?
My understanding is that if I bought a painting from a gallery for £ 1,100 last year, the net price was £1,000 and they charged me £100 VAT. I never had to worry about it as I just got an invoice for the £1,100.
But presumably they won't be charging me VAT any more as it's an export outside the EU.
I presume I would have to pay VAT at the point of entry when bringing it home.
And would I have to pay customs duty?
Where can I find out about this?
Brendan