Out of the common market

Ten silver thrupenny bits used to be placed in the Partridges Christmas pudding.. The dates on them were the birth years of one generation of Brothers and Sisters.
If you found one in your pudding, it was swapped for a sixpence.
 
It would cost to much now to do that Phil, some of them are for sale on eBay at £3500 for a 1943 thrupenny bit that's a hell of return on your investment :rofl: :rofl:

Forgot the best one I found was a 1943 Brass one for £3200 + 85p delivery, he didn't even include free delivery....
 
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I assume it does depend on the condition though?

Amongst other things, I have a 1d (old, pre-decimal penny, there were 12 to a shilling, 5p decimal) but it has the letter 'h' by the date.
This means is was minted at a different location..
A 1919'h'.- Just wish it was a 'kn'..

PhilP
 
PhilP said:
I assume it does depend on the condition though?

Amongst other things, I have a 1d (old, pre-decimal penny, there were 12 to a shilling, 5p decimal) but it has the letter 'h' by the date.
This means is was minted at a different location..
A 1919'h'.- Just wish it was a 'kn'..

PhilP
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You're rich, it's worth £8.95

If you'd kept it invested it would be worth 22p :D:D
 
So, today's purchase is a case in point regarding new rules for buying off eBay in Europe (rounded numbers)
Used item price was €130 plus €15 postage to UK = €145 or £130 using 0.90 conversion rate
eBay adds 20% VAT to price AND postage so VAT on £130 = £26 extra
The price on the item was listed as €145, only when you get the invoice you discover it was €130 plus UK VAT.
Welcome to the new world.
 
idlemarvel said:
So, today's purchase is a case in point regarding new rules for buying off eBay in Europe (rounded numbers)
Used item price was €130 plus €15 postage to UK = €145 or £130 using 0.90 conversion rate
eBay adds 20% VAT to price AND postage so VAT on £130 = £26 extra
The price on the item was listed as €145, only when you get the invoice you discover it was €130 plus UK VAT.
Welcome to the new world.
Click to expand...
Don't forget the VAT Margin Scheme relating to secondhand goods. I've just read it and tried to absorb the information. Does it mean we should be asking whether the seller of pre-owned items has bought them from non VAT sources and if so why are they not charging VAT at 16.67% solely on the difference between what the purchase and selling prices is?
 
idlemarvel said:
So, today's purchase is a case in point regarding new rules for buying off eBay in Europe (rounded numbers)
Used item price was €130 plus €15 postage to UK = €145 or £130 using 0.90 conversion rate
eBay adds 20% VAT to price AND postage so VAT on £130 = £26 extra
The price on the item was listed as €145, only when you get the invoice you discover it was €130 plus UK VAT.
Welcome to the new world.
Click to expand...
Is it an Ebay error? - can't see how you can pay VAT on second hand items.

I may be wrong, but VAT is Value Added Tax so the idea is that, when new say, a piece of wood is included in piece of plywood, VAT is charged on the sale. The plywood is incorporated into a cupboard and VAT is included on the sale price and the cupboard manufacturer recovers the VAT paid on the plywood. The wardrobe company applies VAT to the installed wardrobe and reclaims VAT on the cupboard. So the end user / customer pays VAT on the final value of the goods, not VAT on VAT on VAT.

Now, for second hand goods ..................... dunno. Has the seller recovered the VAT when purchasing the unit to sell on?

Gotta be honest - I've never got involved in VAT on second hand items. I was VAT registered many moons ago, but only in relation to my services offered :oops::oops: and I only really registered for VAT in order to recover the input tax on my initial business purchases (which were large).
 
Rhinochugger said:
Is it an Ebay error? - can't see how you can pay VAT on second hand items.

I may be wrong, but VAT is Value Added Tax so the idea is that, when new say, a piece of wood is included in piece of plywood, VAT is charged on the sale. The plywood is incorporated into a cupboard and VAT is included on the sale price and the cupboard manufacturer recovers the VAT paid on the plywood. The wardrobe company applies VAT to the installed wardrobe and reclaims VAT on the cupboard. So the end user / customer pays VAT on the final value of the goods, not VAT on VAT on VAT.

Now, for second hand goods ..................... dunno. Has the seller recovered the VAT when purchasing the unit to sell on?

Gotta be honest - I've never got involved in VAT on second hand items. I was VAT registered many moons ago, but only in relation to my services offered :oops::oops: and I only really registered for VAT in order to recover the input tax on my initial business purchases (which were large).
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That's what I thought Rhino, so I checked. If the seller is registered for VAT he has to charge it. The Margin scheme was developed for those who buy and sell s/hand stuff where adding 20% on the whole amount would make their business uncompetitive or unviable.
 
ebay mike said:
That's what I thought Rhino, so I checked. If the seller is registered for VAT he has to charge it. The Margin scheme was developed for those who buy and sell s/hand stuff where adding 20% on the whole amount would make their business uncompetitive or unviable.
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So, I s'pose if we buy something second hand from, say Rail of Sheffield, we've paid the VAT but just don't realise it because it's not shown separately.

So, the reality is to be aware of the on-costs when assessing the value of an item - something we are going to have to get used to for European countries, not just USA & Canada :nod::nod:
 
Putting tax to one side for a bit:
Dutch police confiscate British driver's ham sandwiches (msn.com)
Time to consider buying stuff that does not originate from the EU perhaps?
Chilean, South African and Australian wines can be quite acceptable. Brie and Camembert were smelly anyway. I wasn't particularly fond of Bols and as I gave up smoking twenty odd years ago, you know what they can do with their Drum tobacco.
 
To answer Rhinochugger Rhinochugger , as I understand it, when buying goods from EU, if it is new goods then you would buy at the price before VAT and then UK VAT is added on, with second hand goods (through eBay) you just get UK VAT added to the offered local price.
 
Rhinochugger said:
So, I s'pose if we buy something second hand from, say Rail of Sheffield, we've paid the VAT but just don't realise it because it's not shown separately.

So, the reality is to be aware of the on-costs when assessing the value of an item - something we are going to have to get used to for European countries, not just USA & Canada :nod::nod:
Click to expand...
Yep, we'll have paid SOME VAT but not necessarily at 20% and possibly not on the whole selling price. That would depend on whether the seller participates in the VAT Margin scheme in relation to some of their sales.
 
The UK treasury has been yearning to charge VAT on UK eBay transactions for years, this is perhaps a step in that direction.
 
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