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Luxury Shopping in UK/Europe {Understanding the VAT Refund Policy & Other Factors for Saving Money}
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- Опубліковано 18 жов 2022
- In this video, I break down the VAT refund policy in the UK vs the rest of Europe, and how that impacts your savings as an international shopper. I also discuss the difference in the amount of savings you can find between Louis Vuitton vs Chanel. Hope you find the video to be helpful. xx
As always, if you enjoy the video, please give it a THUMBS UP! Thank you~
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Your explanations are always so clear. When I was in London I was so excited to hear they would do vat refund again but now that got retracted. Such a tease! 😢
I LOVE that you saved! I just got back from the UK and purchased a Hermes bag and saved over $2,000! I'm doing the happy dance too!!
Woohoo!!! 💃
Went to London and Paris on the same trip this summer, definitely saw more great prices in Paris (especially with 1-1 exchange rate). ie. Birkin 30 in Togo leather is listed around €8150.
Great video!! I also love using the Chase Sapphire Preferred! A good competitor with that card is Amex Gold! 🙂
Thanks for the tip on Amex Gold!
Thank you for explaining! And so nice that you were able to buy a LV bag for that price😮❤
Omg, this video was so perfect and useful. I’m traveling to the UK this year and was wondering whether I should hold off on purchasing some LV there, and now I know!! Unfortunately the dollar is back to being weaker than the pound, but it still makes sense financially to purchase there considering the VAT is included in their pricing (which I had no idea about, so THANK YOU!!)
I was also able to get the refunds in cash (instead of waiting a few weeks for a credit on the card I used) this Summer in Italy for some Gucci and YSL items. It meant another stop on my shopping day but it was nice to not have to wait. I still had to go to the kiosk at the airport to submit paperwork so they knew for sure I LEFT Italy but that was pretty painless, too.
Thank you cause I'm buying two Louis Vuitton bags, a Louis Vuitton passport, and a Burberry Trench while I am in London and Paris.
Great video. I can't wait to shop in London next month. Hopefully I can get a similar bag for Mum on this trip.
Aw lovely! I hope you’re able to get something nice for your mom. Enjoy your trip! 🏴
Your videos are so informative. I learned about the VAT tax a while ago while in France. I did some damage at LV and saved a lot of money. Thanks.
Doing damage while saving money is a fun combo! 😂 😉
@@hellocatwalkcity so true! That’s why I need to take a trip!
This is a very interesting topic. I recently came back from Asia and on one my stop-overs in Taiwan, I decided to stop in Gucci. I was amazed by how much cheaper it was in Taiwan (Airport - Duty Free). I don't know if it was due to how strong the $$ is at the moment...but if I purchased the bag in the US, I would have spent $2900 + tax. But since I purchased it in Taiwan, after the conversion, I spent right around $2200. It was an amazing savings.
I think the US taxes affect other countries also. We are in Japan and the yen rate is really low. Louis Vuitton store here in Okinawa, I have visited several times in the last two months, and we just arrived in July. If I was in the states that would not be possible, due to the outrageous prices.
I've been following the VAT news and was very bummed when it was squashed in the past few days. I had no clue though Heathrow isn't duty-free anymore - disappointing!! You got a great buy though. Classic flaps are beyond ridiculous now and the buying pool must be a small fraction of what it was. Glad I have what I do. Bank of America has a great travel credit card, no annual fee, cash rewards too.
Great video as always! Clear, concise and to the point. Truly appreciated 🤗
Hey love, Capital one and Discover card does not charge foreign transaction fees as well.
For someone who came from Asia and living in the UK, shopping at the airport when we go back home during summer was the only chance to benefit the duty free/ vat refund, but that ended too soon. Now, we only get to benefit vat refund when we travel outside the UK, Paris being the closest. 20% VAT and we get to claim 11-12% of that is quite a savings for us too. Except somehow, I found makeup and skincare is more expensive there than in the UK. 😅
That’s interesting about makeup and skincare. 🤔 Thanks for sharing your experience!
Sometimes it’s annoying to apply for the VAT refund especially if you’re out of time . If you visited like 3 countries you have to apply for the VAT on the last country that you have toured. We went to Scandinavia last July and we were not able to apply for the VAT because we only have 1 1/2 hr before departure and we still have to fall in line for the immigration. There are some stores that takes off the VAT, when we were in Norway one of the stores will have you apply for the VAT if you purchase $300 and up.
great video! From what I see LV is the only major brand that is SIGNIFICANTLY cheaper in Europe since they haven’t harmonized their prices (and maybe Dior). for other brands like Chanel I just see it as saving taxes, which coming from a high tax state adds up on luxury purchases. Another tip for those traveling to multiple countries is to purchase in the state that has the highest VAT, which ironically is not France. That’s another way to save some money. Could you touch on customs? From what I understood anything over $800 should be taxed, but you were saying how the officer told you it was around $2500?
Absolutely, Chanel’s price harmonization has reduced the savings. Hopefully the calculations and comparisons I showed were helpful. Also, as mentioned, Italy has a higher VAT rate than France but I don’t know that it’s significant enough to make a real difference. Finally, the customs officer on the US side said anything above $2700 would need to be declared. When he saw my receipt, he said I was fine because it didn’t exceed the $2700 limit. It’s much higher than I expected. Hope this helps.
@@hellocatwalkcity thanks for clarifying! And some countries are up to 25% VAT, so I’ll take an extra 5% 😅
@@HelloLuxe But remember, you don’t always get the entire VAT amount back! Just to make it more complicated 😂 keep that in mind. 😉
Hermes is still significantly cheaper in Europe too
I bought an empreinte speedy in Madrid and saved almost $1500. Not only was the price about $800 cheaper, but I got about a $300 VAT refund. So, in total I paid 1700 for a bag that retails for about $2800. If you include the taxes I would have paid in NYC, that $2,800 would have come up to about $3,100. I was in luck because the EURO and the dollar were about equal +/- about $20.
What a deal!!
I love love these videos and how clear you explain it!! I have not come across anyone doing that! Please do more finance videos of any kind! ❤
I loved this video and so appreciate the explanation. I haven’t done any luxury shopping abroad so it wasn’t at all clear what VAT is. A question I have is, what happens at Customs if you have spent over a certain amount???
You need to know what the personal exemption amount is for the country you are returning to. USA is $800 per person for trips over 48h. And this can be combined for an entire household. So a husband and wife can bring back $1600 of goods duty free.
I’m glad the video was helpful! If you exceed the customs limit, you’d simply have to pay a fee at the airport.
@@youlookbananas As I mentioned in this video, I was traveling alone (with friends) and the customs duty officer told me the limit was $2700! It was much higher than I expected. I believe it depends on the country you’re traveling in from as well.
You explained this perfectly so clear to understand how you say it ! I have one more item on my lv wishlist (famous last words) so hopefully I can get it before they harmonise ! When we traveled to America my credit card didn’t charge a fee but my debit did ❤
Thank you Jen!
what about paying us tax when you declare it coming back to,the US?
You got the Speedy for a great deal still. That would make me happy to know I paid the 2015 price on your bag as well. That make sense about the price Harmonization. Very interesting video. Enjoyed watching.
Yes!! It’s so funny how excited we get when we save money! I’m definitely happy. Thanks for watching!
My Cartier Love Ring was only a 50 dollar savings after the refund and conversion 😂. I'll take it.
This was a great video! I love luxury handbags but the prices are outrageous! I just purchased a mini puzzle handbag and saved $600. I was so excited but I'm all tapped out now. I purchased the handbag from Fashionphile in excellent condition.
Just a heads up, the dollar is still weaker than the pound. As depicted in your screenshot, Americans have to pay/give $1.12 to get only 1 bp back. In the calculator you used, you put the “1” for the usd to see that when we (Americans) give a USD, we would only get 0.88 pounds back, LESS…I’ve taught conversions, it’s easy to get it confused. But still, it’s definitely cheaper to buy in the EU! Love the info in the video! I always try to make large luxury purchases in Europe especially whenever I can…Great tips!
You’re so right!Thank you for catching that!
Thanks for the info babe I’m so happy for you congratulations on your new add I love my speedy B 25 DE I’m in Washington so rains a lot perfect bag for me, I also use so many time my PM reverse monogram. 🎉❤
Yes, it’s the perfect rainy day bag!! 👍 Thanks dear.
It's also good to include the price to travel within the region as part of your discount. Sometimes a train ticket from London to Paris can be 300 pounds. Is it equivalent to the vat refund or more?
Hi there, Eurostar tickets can be as little as £40 each way and up to £249 for the premium seats
I flew from Madrid to lisbon for about 35 Euros. Paying 300 pounds for a train is madness.
I suppose it's because I waited a few days b4 travel to hunt for tickets? Both air and train were exorbitant.
Thanks for being so informative!!
You’re so welcome!
There are lot of credit cards which don't charge foreign transaction fee :)
Of course! I’m just sharing the one I prefer since someone asked.
Thanks. Going to UK over holidays
Hi!
Big thanks for this one too.
Would you, please, explain for europeans shopping in the USA: How these refunds work? Buying house items, for instance. Imagine I am shopping a bit around the US (New York, California (San Francisco) and Boston) the refund rates will be different and all these States give refunds to foreigners?
The US does not give VAT refunds the way Europe does. Because tax is charged by each individual state, there are no refunds when shopping here. The video was about my experience as an American shopping in the UK. Hope this clarifies.
Hi!
Thank you so much for the video. I have a question in regards to US customs, if it is over 2700, what would the tax be when you declare purchases over that?
I’m still in disbelief that the customs officer told me $2700 was the limit because I thought it was much lower than that. I think it depends on the country you’re traveling in from perhaps. Anyway, I’m not sure what the customs fee is but I don’t believe it’s very much as I’ve heard others say that the savings that were able to get by shopping abroad were still worth it even after paying customs. Hope that helps some. Maybe others can chime in here with more info!
l love the information you give your subscribers. You're correct about the VAT refund, and vacationing in Europe is cheaper. We were stationed in Sigonella, Sicily from 2016-2019. I went to Palermo, Italy Louis Vuitton store and saved hundreds on the products I purchased. Even the outlets in Sicily are cheaper than shopping in the states. Now we are stationed in Okinawa, Japan. Right now the yen rate is low compared to the US dollar. I’ve visited the Loius Vuitton at the Galleria Mall here in Okinawa and saved a good amount. My recent purchase was the Kirigami Set in monogram at the yen price of 90,200 converted to $629.21 at the time of purchase. As of today now it is priced at $599.88. The yen rate is steadily declining.
Wow thank you for sharing about Japan! We are planning to visit next year if the stars align!
Do you have to declare your purchases when re-entering US? When you traveling back from Portugal you need to declare and pay tax on any purchases over $800
I mentioned in my previous video. Yes, I told the customs duty officer and he looked at my receipt and said I was fine.
Pity that VAT is not refundable at Heathrow/UK anymore.
Rishi Sunak stinks
US citizen heading to London for a vacation. I'm planning on spending a few days in Paris. Do you have any information on the UK VAT being collected on purchases made in Paris and brought back to London?
im wondering the same thing. Can i buy in germany and do refund when i fly out of italy?
Wow can you imagine how discounted it would be if you could get your VAT back!
great info thanks!
Thank you
My pleasure!
I bought the LV cappucines in Italy couple of months ago and I saved exactly $3,000
Wow!!
Howww
I am in uk planning to go Italy or France
@@sheesnoor68 from the tax refund and the difference from euro to dollar.
Yep, we learned of the riddance of the VAT refund the hard way when we went to London in January this year. Husband bought some shoes from the Church’s store on New Bond Street and at the time was p!ssed at having to pay the full £700 for a pair. It turned out to be a “bargain” in the end, because now those same shoes are £940! He’s glad he has them. I know we all keep saying it, but these price increases 🤯 😂
Please beware - the comment you received below is NOT me. It is a spammer/scammer.
@@hellocatwalkcity I know and I’ve reported them ❤️
Thank you for this informative video. I’m going to London this Saturday, the 29th. I won’t be entitled to the VAT refunds , right ?
That’s correct. As of now, the UK is not offering VAT refunds. Enjoy your trip!
Great video! BUT you have to pay in order to be able to travel abroad -right? So, what would be the total saving? I live in Europe (Skandinavia) and travelling from here to somewhere overseas is soooooo expensive. TaKe care 🌼
Well, I would travel with or without the shopping so I don’t factor the travel costs since I’d be there anyway just to enjoy myself! But if you travel purely for the purposes of trying to save money on a purchase, I agree, you’d have to factor in travel costs to get the true calculation! 👍
Yup- I saved $600 on a Loewe bag in London vs California prove
Great information.
arent you forgetting import duties when you return to the US? Assuming you bought more than $800 on your trip
I did not get charged any duties when coming back from the UK. I declared everything with my receipt and the officer said I was good to go.
To be clear, this was my UK experience. Coming back from Europe where they offer VAT refunds, yes, I’m sure there will be customs duties but that was not my experience this time. Hope this helps clarify!
@@hellocatwalkcity thanks!
How much did you pay when you enter the US for customs duty?
Nothing. I mentioned in the video right before this one, that the customs duty looked at my receipts and said I was fine because I didn’t exceed the limit. 🤷🏻♀️
😁👌🏻❤️great video!
One more thing, when you come back to the US, anything over $800 will need to pay custom taxes or else you can get a fine and things be confiscated
Oddly enough, when I showed the customs officer my receipt, he said I was fine bc it was under $2700. He said anything over $2700 would be charged customs duties. I mentioned this in my last video bc I was happily surprised.
Why UK, they’re all French brands, so go to Paris instead!? Besides, it’s a much more beautiful city.
I’ve been to Paris several times. I just happened to be in London with friends this time.
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What about credit card foreign currency conversion fees
I don’t use cards that charge foreign transaction fees.
Do you have a financial instagram page called plan budget dream? You guys sound the same!
Oh wow, that’s not me!
@@hellocatwalkcity crazy! Sounds just like you lol