Hi,
I was wondering whether anyone knows definitively what happens when we finally leave the EEC on January 1st in the two scenarios below.
1. I buy stuff from the EEC that I cannot buy in the UK. The two examples that spring to mind are mandolin straps from Italy and strings from Germany. Will from January onwards I have to pay substantially more to cover VAT and import duties and administration fee like I do today when buying in anything from the US. This typically hikes the price up by 30%.
2. If I sell a mandolin privately to someone in the EEC would they similarly have to pay VAT and import duties, thus hiking up the price and largely making sales unlikely?
I’m just trying to confirm that my thinking is correct on this so that I can do some transactions now if necessary.
Regards,
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