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Importing and Selling art

DColes
Posts: 1
Joined: Thu Apr 20, 2017 4:06 pm

Importing and Selling art

Postby DColes » Thu Apr 20, 2017 4:14 pm

If a business imports art on a Temporary Bond with a shipper into the UK my understanding if the artwork is sold is that import VAT of 5% of the sale price is paid plus the duty to the shipper that holds the bond. My question is if the business sells the art to a UK client and the business is VAT registered does the business still charge the 20% on the sale as well as paying the 5% import VAT? Also is the 5% Import VAT claimable on a VAT return?

Thanks, Daniel

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