On 20/01/2014 13:52, Emma Frost wrote:
Well the bill for the VAT is £20,820. I believe the retail value of the
equipment was given as approx $170k. Is there some kind of limit for how
much a donation can be worth?
Unfortunately the donation aspect is irrelevant to HMRC.
You've imported $170k worth of kit into the UK (is it *really* worth
that much - I mean, could you sell it on Ebay for that amount today?) -
and therefore 20% of that will be charged as VAT, so approx £20k.
If it isn't really worth $170k then I have no idea how you revalue
something mid-flow for customs purposes, or if that's even an option.
Paul.
