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The Question of VAT?

It is no surprise that the question of Value Added Tax is a common one. The laws and regulations are extensive and complex. To complicate matters further there can be a tremendous variation in rates and regulations between neighbouring countries and even neighbouring states.

Here is a summary of the various schemes that The Contrabass Shoppe operate and an outline of what you may be entitled to reclaim dependant on your individual circumstances and upon which part of the world you come from.

1) For Non-VAT Registered Clients From The UK And Other European Community (EC) Member States.
2) For VAT Registered Clients Within The UK.
3) For VAT Registered Clients From Other European Community (EC) Member States.
4) For Non-European Community (EC) Clients

1) For Non-VAT Registered Clients From The UK And Other European Community (EC) Member States.

For these clients The Contrabass Shoppe are able to operate the Margin Scheme. Sales made under the scheme to another EC Member State are treated in the same way as sales within the UK.

The Margin Scheme, specifically for second-hand goods, works of art, antiques and collectors' items has several advantages for the buyer.

The advantages are as follows;

a) The scheme avoids the necessity to add VAT at the current UK standard rate of 17.50% to the full purchase price of an instrument or bow.

b) The scheme accounts for VAT by including it in the gross margin (the amount by which the selling price of an item exceeds the price paid on its purchase) of the seller.

c) Any VAT due is payable in the UK by The Contrabass Shoppe. No further tax is due from the buyer in the country of destination or in the UK.

d) Goods will not be subject to acquisition VAT when they are taken into another EC Member State.

The tax element within the margin is not re-claimable by the buyer.

Put simply this means that the price quoted for an instrument or bow is the price that you must pay in order to obtain those goods. There is nothing added to the purchase price and there is nothing that you can reclaim.

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2) For VAT Registered Clients Within The UK.

For these clients The Contrabass Shoppe are pleased to offer a discount of up to 5% (at our discretion) on the quoted prices of our stock. VAT at the standard rate of 17.50% will be added to the full selling price. The amount will be shown separately on your invoice and can, subject to the normal rules, be reclaimed as input tax.

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For these clients The Contrabass Shoppe are pleased to offer a discount of up to 5% (at our discretion) on the quoted prices of our stock providing that certain conditions are met. The conditions for these "Zero-Rate" supplies are as follows;

a) The client must be able to supply The Contrabass Shoppe with their full EC VAT registration number, including the 2-letter country code prefix.

b) The goods are sent or transported out of the UK to a destination in another EC Member State.

c) The Contrabass Shoppe can obtain clear and valid commercial documentary evidence that the goods have been removed from the UK within three months of the date of supply. Evidence of export is usually in the form of commercial transport documents such as an air-waybill or a sea-waybill etc. that are produced following the shipping arrangements that The Contrabass Shoppe will make to forward your acquisition to your home. Alternatively should you wish to take your acquisitions home with you then any documents (customerĖs order, inter-company correspondence, copy sales invoice, packing list, details of insurance or freight charges, evidence of payment, evidence of receipt of goods abroad etc.) relevant to the removal of the goods in question may be used provided that, when taken together they provide clear evidence that the goods have been removed from the UK.

Please note that you must account for any VAT due on your VAT return (at the rate applicable to your country) for the period in which the tax becomes due and, subject to the normal rules, you may treat this tax as input tax on the same VAT return.

Goods purchased in this way will be ineligible to be re-sold on the Margin Scheme.

Put simply this means that if The Contrabass Shoppe are able to zero-rate the supply of an instrument or bow you will benefit from a slight discount (at our discretion) on the price quoted. There are no additional costs to you (apart from shipping if applicable) because you can reclaim the VAT due on acquisitions as input tax.

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4) For Non-European Community (EC) Clients.

For all our clients in North and South America, Asia, Australasia, Africa and the European countries outside of the European Community (EC) fiscal (VAT) area, The Contrabass Shoppe are pleased to offer a discount of up to 5% (at our discretion) on the quoted prices of our stock providing that certain conditions are met.

The conditions for these "Zero-Rate" supplies are as follows;

a) The Contrabass Shoppe can obtain clear and valid commercial documentary evidence that the goods have been exported or removed outside the EC from the UK within three months of the date of supply. Evidence of export is usually in the form of commercial transport documents such as an air-waybill, a sea-waybill or a certified Single Administration Document (SAD - Form C88), etc. that are produced in the normal course of your taking your purchase home with you or following the shipping arrangements that The Contrabass Shoppe will make to forward your acquisition to your home.

The Contrabass Shoppe will take care of all necessary documentation and shipping arrangements.

Put simply this means that The Contrabass Shoppe will do its utmost to ensure that you receive a great deal as you are without doubt our favourite customers.

 
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Contrabass Shoppe footer Click here to review some of the instruments previously sold by The Contrabass Shoppe Click here for our range of Budget Double Basses up to UK £5000 Click here for our quality Double Basses up to UK£20,000 Click here for our highest quality Double Basses over UK£20,000 Click here for our quality Double Bass Bows Click here for our quality Double Bass Accessories Click here for our range of Double Bass specialist Books Click here for the web site introduction Click here to discover more about The Contrabass Shoppe Click here for the outstanding Double Bass Gallery Click here to discover our articles in relation to the Double Bass Click here for videos, audio, photos and articles from the Shoppe Click here to make contact with us Click here to make contact with us Click here to email us.