[quote name='thisnameistaken' post='211435' date='Jun 2 2008, 10:21 PM']You do still have to pay import duty within the EU, but usually not VAT. I'm buying from the USA so I'm paying both. [/quote]
You don't. You have to pay VAT at the rate of the originating country within the EU.
Import duty is 3.7% on FX. I figure add 22% and then £12 to the marked value and you'll always have a little bit of change.