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 Post subject: Importing rough gems into the E.U/United Kingdom
PostPosted: Mon Feb 22, 2016 6:58 pm 
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I hope I don't fall foul of moderators rules and that I am not asking a silly question. What's the best way of importing gemstones into the U.K?

Are there special couriers who can transport them via air (from Africa for example). Online articles seem conflicting with some saying there is 0% duty on diamond rough in the UK and others saying the opposite

I am in the perculiar position of having some rough gems but not knowing how to bring them to market. Does one need licence to trade in them in Europe?

Thanks in advance


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Mon Feb 22, 2016 9:54 pm 
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Contact SGA and ask for Brian Jackson or Alistir Tait


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Tue Feb 23, 2016 6:55 am 
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Barbra Voltaire wrote:
Contact SGA and ask for Brian Jackson or Alistir Tait



Thank you Barbara Voltaire. I will get in touch with them


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Tue Mar 01, 2016 8:14 am 
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africanlion wrote:
I am in the perculiar position of having some rough gems but not knowing how to bring them to market. Does one need licence to trade in them in Europe?


Greetings Lion!

It is pretty straightforward, actually. - you don't need any license, assistance; or to pay any 'special' couriers, commissioners, etc... to import gemstones in the EU/UK.

You need to read Section XIV, Chapter 71, Article 7101 through 7105 of the EU Customs and Taxation tariff here:

http://ec.europa.eu/taxation_customs/dd ... ngDescr=en

or here:

https://www.gov.uk/trade-tariff/chapters/71

There are a few 'if's in the process, depending on whether you are shipping the goods or carrying them on you to import them, but don't be too worried about it, as they can only save you some money if you know the process well, and if you are an EEA (European Economic Area) country citizen.

If you are shipping, make sure that customs declarations you fill in for your wares include value per line item(parcel), and it's description includes the Goods nomenclature code (7103990000 for opals, for example).

In general, the duty is 0%, but the recipient still needs to pay Value Added Tax (VAT) over the combined(total) value of the goods in a shipment plus the shipping service value, plus any insurance charged. This confuses some, because it is charged by the Customs authorities, so let me explain:

If say, you are posting a parcel of opals with declared value of £1000 to the UK, and you did pay £50 for shipping plus £50 for insurance, the total value of the shipment will be £1100. This means that the recipient will have to pay £220 (20% UK VAT of 1100) to HMRC to release the shipment. This is some times handled by the shipping companies as a process, making it easier.

You should note, that restrictions as per the Kimberley Process for conflict stones still apply, but if you deal in diamonds you should already know this.

Btw, what are the stones and where do you ship them from?


-o.


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Mon Mar 07, 2016 12:05 pm 
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Africanlion, I can see that you have tried to send me a private message, but as (although reading for a few years) I have only recently registered - I can't see your message. Sorry.
I can at least see that the subject is the same as the topic name, so why not post your question here?

-o.


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Wed Mar 09, 2016 11:08 am 
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Thanks. I am a British citizen so qualify under E.U exemption. Say the buyer is coming from outside E.U and we meet in London for purposes of the transaction (beacuse i feel safer coz of this being my home :D ) is any vat payable here?

Am i understanding you correctly i can simply carry them on my person from africa and just fly in and i wont have any bother with customs ( i dont want to be arrested smuggling :D )

Have also heard Antwerp mentioned, am i likely to get better prices there or its same as London

Thanks


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Wed Mar 09, 2016 10:00 pm 
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wear an oversized hiking boots and put them in where you feet go...if they catch you you just say hey they got in there in the last hike no wonder my feet hurt


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Thu May 05, 2016 8:07 am 
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There are no exemptions! Everything you have acquired abroad and carry on you(above a certain 'value' - this is what saves you money as an EEA citizen) should be declared when you enter the UK; and VAT is payable at this point.

Nobody in Antwerp cares about coloured stones.... if you actually plan on trading diamonds there, the process is very different and rather complex.


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Thu May 05, 2016 11:40 pm 
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There are probably one or two people in Antwerp that care about colored stones. :wink:


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 Post subject: Re: Importing rough gems into the E.U/United Kingdom
PostPosted: Fri May 06, 2016 5:23 am 
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Barbra Voltaire wrote:
There are probably one or two people in Antwerp that care about colored stones. :wink:


:) You are right, of course. (And there are even three when I'm there :wink: ). I should have probably said that diamond vastly dominate the trade...


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