Whiteflash are fantastic!!! Plus important UK tax info!!

[costacor]

Hi all!!

Just had to say thank you to Denise and Whiteflash for an excellent service - the ring arrived here safe and sound in two days and it is gorgeous. I would recommend anyone to use them!!
Setting:
Vatche 3-stone truffle

Center Diamond:
Round Brilliant ACA
AGS 0 J SI2
1.167 Ct

Side Diamond 1:
Round Brilliant ACA
AGS 0 J SI2
0.563 Ct

Side Diamond 2:
Round Brilliant ACA
AGS 0 J SI2
0.562 Ct

The diamonds show up as white as anything I''ve seen in any other B&M store here in London (including Tiffany''s) and I never seen anything so sparkly. I can''t believe the colour is a J! The diamonds are also eye clean, I can''t see any inclusions without a loupe.

For those thinking of importing a ring from the USA to the UK (and Euroland):
The normal tax rates for a set diamond ring are as follows:
2.5% Duty added to item value, shipping and insurance
17.5% VAT on top of all the above (ouch! somethings got to pay for the NHS I guess)

However, our friends in the EU are having a little trade war with the USA at the moment (http://europa.eu.int/eur-lex/pri/en/oj/dat/2003/l_328/l_32820031217en00030012.pdf)

...so the duty value has an ad valoreum duty (added to existing duty of 2.5%) currently of 8% (this will increase 1% per month until it hits 17% in march 2005 so you might want to get a move on!)

Despite paying 10.5% duty (plus 17.5% VAT) it was still a bargain compared to UK high street prices with a quality I haven''t seen outside Tiffanys''

Jose

 

[costacor]

Also, will take pics once I've got a digital camera sorted, took pics using mobile phone but it doesn't do it justice!

 

[researcher]

I worked with Denise as well, and couldn't have been happier with the service I received (or my ring!). So, I'm sure your ring will be a stunner! Can't wait to see the pics!

Congrats!

 

[pyramid]

What 28% in taxes, that is nearly a third of the price of the ring. I am presently saving up for a diamond solitaire which I intend to buy from Goodoldgold but I may have to reconsider buying in this country.


Congratulations on getting your ring, I am sure it is a beauty and would love to see pictures on this post.

 

[pyramid]

Well I suppose we would be paying the 17.5% here anyway so it is really 10.5%. It just sort of shocked me though as I was just counting on the 17.5% plus 2.5%. Oh well more months added on now to save

I would rather I think give the extra to the jeweller in this country than to the taxman.

Do you know if after March 2005 this will be a permanent thing? I cannot get the link you posted to show on my computer.

 

[costacor]

According to the EU website: (look for council regulation EC 2193/2003)

"After March 2005, the Commission shall present a proposal to the Council for the revision of the Regulation in the light of developments"... it also states, "The council shall decide on the repeal of this regulation once the USA have fully implemented the recommendation of the World Trade Organisation dispute settlement body"

Which I guess means they will review the situation (probably add more taxes or increase scope of taxes) once the ad valorem tax hits 17% unless the USA does what the WTO is asking them to do.

Fortunatley the exchange rate is still excellent which balances it out a bit

Since we're now in July, the ad valorem rate is now 9% (total of 2.5% plus 9% = 11.5% plus VAT!)

Hope that helps

Jose

 

[pyramid]

Thank you for providing this information. Unfortunately I will not be able to buy my diamond until after March 2005 when the 17% comes into effect.

 

[pyramid]

We have a saying over here, it is: "Rip off Britain"

 

[pyramid]

Does anyone know what this trade war is about between the UK and USA governments?

 

[just_looking!]

Ouch!! Glad I'm currently an expat. Tax here in Bahrain is 2% (and rising slightly) depending on the value of the item. We're pegged to the US dollar so don't get the exchange breaks.

I've got friends in the UK who were planning to go on holiday to pick up their ring as they'll still save money by hand carrying it home. They said they were prepared to pay the taxes if asked, but if no-one approached them at the airport then they planned to carry on walking.

Saving 17% plus 17.5% sounds like a nice holiday or perhaps they'll spend it on a honeymoon!

 

[JohnQuixote]

Jose,

Congratulations on your beautiful ring. Thanks also for the financial information from 'across the pond.'

The only thing that makes Denise as excited as a Dallas Cowboys' football win is delivering your dream diamonds. If the 'boys win tomorrow her weekend will be matchless!

All the best,

 

[alexah]

How do you like living in Bahrain just_looking? It must get unbelievably hot in the summer time!
I thought i heard once that there's no income tax in Bahrain? true?

 

[just_looking!]

It gets pretty hot here and the humidity gets to over 90% so we often have apparent temperatures of 50 deg C and more. Thanks goodness for AC although we had a national power cut a few weeks ago for a day!

No income tax is great but I'm on a local contract (no medical or dental, or housing or car allowance and no flights home) and they don't pay much for environmental consultants!

Never the less, I'm with my other half and the hobie sailing is fantastic!!