Thanks, FunBagz! I will likely claim my purchase at US customs to be on the safe side. I was reading up on it some more trying to figure out how to calculate how much I would end up paying in UK vs. the US for a Chanel medium classic flap. I'm confused what the VAT refund is in London. UK's VAT is 20%, but then each store charges processing fees so the VAT refund I would get is less than that - what is the VAT % at Chanel in London? I'm also not able to find how much US customs charges if I am claiming over the allowed $1600 (my husband and I), I've read it can be around 4%-9% tax on the difference.
Can someone tell me if I'm doing this calculation correctly? I used this site to help me calculate VAT:
http://vatcalconline.com/ and
http://www.calcresult.com/finance/VAT.html
Chanel Medium Classic Flap in London:
- $5,300 US
- £3990 UK ($5,580 US)
- 17.5% VAT refund (not sure if that's the right %??) = £594.26 refund
- £3990 UK - £594.26 VAT = £3,395.74
- £3,395.74 UK = $4,749 US
- US Customs 4% Duty fee on difference is $3,149 US = $125 taxed
- $4,749 + $125 tax = $4,874 US final cost