VAT Guidelines (London Sales)

Auctioneers’ Scheme (items with no VAT symbol in the catalog)

Hammer Price
Many items in Tarisio’s UK sales are sold under the Auctioneers’ Scheme and have no VAT charged on the hammer price.

Buyer’s Premium
An amount equivalent to Value Added Tax (VAT) of 20% will be added to the amount of the buyer’s premium on all Auctioneers’ Scheme items except those shipped by Tarisio to an address outside the EU (see Refunds of VAT below).

Seller’s Premium
An amount equivalent to Value Added Tax (VAT) of 20% will be added to the amount of the seller’s premium on all Auctioneers’ Scheme items except for those which are exported from the EU after the sale.

Items marked ‡ or Ω in the catalog

These items are classed as temporary admissions and are sold under the Auctioneers’ Scheme, but import VAT of 5% (for items over 100 years old, marked ‡ in the catalog) or 20% (items under 100 years old, marked Ω in the catalog) will be added to the hammer price. If temporary admissions are to remain in the EU, an administrative fee of £115 per lot will apply for bringing them to home use.

Items marked † in the catalog

These items are sold under normal UK VAT rules and VAT of 20% will be added to the hammer price and the buyer’s premium.

Refunds of VAT

VAT may be reclaimable in certain circumstances. The examples given below are for guidance only and professional advice should be sought where there is any uncertainty.

  • Buyers exporting items outside the EU will not be charged VAT on the hammer price or buyer’s premium if the item is shipped by Tarisio to an address outside the EU. Buyers who themselves export an item from the EU within three months of the end of the sale may reclaim VAT paid by presenting Tarisio with proof of export (minimum purchase of £4,000 and administrative fees apply).
  • EU buyers outside the UK who are VAT registered in their own country will not be charged VAT on items exported to another EU country if they supply Tarisio with their VAT number before or immediately after the sale. Please note that this does not include import VAT (see note 3. below).
  • EU buyers outside the UK who are VAT registered in their own country may be able to reclaim import VAT (items marked ‡ or Ω) through HM Revenue and Customs. Tarisio will endeavour to obtain appropriate certification from HM Revenue and Customs.
  • UK buyers who are VAT registered may reclaim VAT charged on items marked †, ‡ or Ω through their VAT returns.

It may be possible for other buyers to reclaim VAT charged under normal UK rules. Information and claim forms can be obtained from HM Revenue and Customs:

Overseas Repayment Section

18th/13th Directive
Customs House
PO Box 34
Londonderry BT48 7AE
Northern Ireland
Tel: +44 (0)2871-376200 or -372727
Fax: +44 (0)2871 372520
Website: www.hmrc.gov.uk

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