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Did George Pay the British Tax Bill for Amal's Ring?

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Post by melbert Sun 25 May 2014, 03:12

[You must be registered and logged in to see this link.]

I'm not copying the pictures as we have all of them all over the place, so no need to repeat.

Anything to declare George? Clooney faces £100,000 tax bill on fiancee's £415k ring... because she wore it at Heathrow

By Charlotte Griffiths

Published: 17:19 EST, 24 May 2014 | Updated: 17:40 EST, 24 May 2014

It's the romance that broke a million female hearts... and I disclosed last week how George Clooney has now set a date for his wedding to Amal Alamuddin.

But now George could be suffering considerable anguish himself – because I’m told he may have to cough up nearly £100,000 to the UK taxman after buying his British bride a £415,900 seven-carat emerald-cut engagement ring.

Why? Simply because Amal wore the ring as she strolled through customs at Heathrow on May 13, after celebrating her engagement in Malibu with friends including Cindy Crawford.

When Amal Alamuddin arrived at London's Heathrow from Los Angeles she would have had to pay tax on her £415,900 seven-carat emerald-cut engagement ring

British travellers such as human rights lawyer Amal, 36, who arrive in the UK from a non-EU country, have to pay customs duty and import VAT on all goods that exceed the stated allowances.

And duty for a diamond ring like Amal’s would be 2.5 per cent of the total value, a painful £10,397.50, plus import VAT of 20 per cent of its value. That would leave the couple owing the taxman £93,577.

Last night, his spokesman refused to disclose whether Amal stopped to pay the tax at the airport or whether she was planning to settle up later, saying: ‘I have no idea of the validity of your story and I have no intention of even addressing it.’ Amal wouldn’t be drawn either.

But the taxman was – as you may expect – less evasive. An HMRC spokesman said: ‘Bringing in goods bought from outside the EU, whether in person or through the post, could attract customs duty or import VAT. Customers should check the current limits on our website.’

The rules state that any jewellery worth more than £390, brought into the UK from outside the EU, is subject to VAT and customs duty.

Big rock: Human rights lawyer Amal may have sneaked through customs at Heathrow without paying customs duty and import VAT on her diamond ring

George Clooney's his spokesman refused to disclose whether Amal stopped to pay the tax at the airport or whether she was planning to settle up later

George Clooney's his spokesman refused to disclose whether Amal stopped to pay the tax at the airport or whether she was planning to settle up later

It’s not the first time celebrities have seemingly failed to pay proper attention to the rules surrounding the import of valuables to the UK.

Victoria Beckham was caught out in 1998 when she was asked to pay a £3,000 bill after failing to declare the £50,000 engagement ring she bought for David while in the US. She paid up but had the money refunded to her after an apparent breach of confidentiality.

Cherie Blair had her own run-in with customs officials in 2003 when she became the subject of an inquiry into pearls worth thousands of pounds brought back from a trip to China.

I suspect George has coughed up to the taxman for Amal’s ring, as it would be a bit rich to ask Amal to pay the bill – even though as a barrister she could probably afford it.

And George has played by the rules from the very start when he sought out an ethical designer who could provide full authentication for the South African gemstone.

A source said: ‘He wanted nothing to do with blood diamonds.’ Blood diamond or not, no doubt the taxman will be taking an interest.

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Post by LornaDoone Sun 25 May 2014, 05:59

And this I believe may be that cold bucket of water on his plans to relocate to the UK. Taxes here in the US are a bitch but not as much as Europe! At least that's what I've heard
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Post by theminis Sun 25 May 2014, 06:14

Well if he can afford the ring Im sure he can afford the taxes. I know that when I bought some jewellery back from the UK, Customs in Australia queried it and I told them it was a gift which was true so I didn't pay anything?
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Post by party animal - not! Sun 25 May 2014, 09:37

Did it occur to anyone that he might have bought the ring in the UK?

Wouldn't surprise me at all.............

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Post by theminis Sun 25 May 2014, 10:49

Good point PAN -
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Post by Picachu Sun 25 May 2014, 10:53

But it's a gift, you dont pay tax on a gift
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Post by party animal - not! Sun 25 May 2014, 11:15


Exactly, Picachu.

So there we are. Two perfectly plausible holes in this story.

No wonder Stan gave them short shrift!

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Post by Ballycuan Sun 25 May 2014, 11:51

Picachu wrote:But it's a gift, you dont pay tax on a gift

But you do pay taxes on gifts as well.  E.g. up here in Northern Scandinavia we pay taxes on almost everything including gifts if the value of the gift is more than 4000 €.

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Post by Nicky80 Sun 25 May 2014, 11:57

I think we pay taxes for gifts too if a curtain value got reached. I mean it would be weird if there is a law that you do not pay taxes on gifts then everybody would claim, whatever they bring into the country, it is a gift.  Razz 
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Post by Katiedot Sun 25 May 2014, 15:41

Yes, I think you have to pay taxes on gifts too although I'm not sure.
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Post by lionheart Sun 25 May 2014, 17:57

It's so silly that a gift is taxable but it's such a clever way for the government to earn money.

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Post by theminis Mon 26 May 2014, 23:29

bamboochacha wrote:[You must be registered and logged in to see this link.]

Smuggler.  LOL   flower

Why wasn't it confiscated at the airport until payment made?

Bamboochacha - we already had a thread on this so moved your post here and deleted the thread you opened
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Post by bamboochacha Mon 26 May 2014, 23:35

theminis wrote:
bamboochacha wrote:[You must be registered and logged in to see this link.]

Smuggler.  LOL   flower

Why wasn't it confiscated at the airport until payment made?

Bamboochacha - we already had a thread on this so moved your post here and deleted the thread you opened

Thanks
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Post by bamboochacha Mon 26 May 2014, 23:38

ha. an engagement ring considered a gift? let her fight that one in court. lol.
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Post by Butterfly Tue 27 May 2014, 05:36

I don't think paying taxes would represent a problem for George.

If I was Amal wearing the ring - I would also forget all about paying taxes, because it is so NOT romantic.  Sad 

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Post by Pita428 Tue 27 May 2014, 18:36

He may have pre-paid the taxes if there were any. Oprah has been noted for paying taxes on gifts she gives people, so a lot of wealthy people are aware, and G has been very generous with friends and family and given gifts that would have required a gift tax in the past.
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