Recieving from the states

[NitroBall]

Marking item as gift is the best idea, but having a low price on the label can mean trouble if item goes missing.
The price marked is the insured price, item goes missing, sender can only claim that amount. Who loses out ? well that would be the sender.
If you ask sender to mark item at a low price, an agreement from the receiving party would be ; if item goes missing, the marked price will be the amount you will be refunded.

 

[tiffer]

Just get them to put gift on it as advised,leave the price correct.
I've had plenty form the states and been charged duty 2x in all.

 

[Nanagedon]

You only have to pay tax if it is worth more than £32 or around that price

 

[tiffer]

From the post office website;
Customs information
All postal items that enter the United Kingdom may be examined by Customs, but normally letters, postcards and packets containing only documents or similar forms of correspondence are excluded.

If you are receiving a package from overseas (apart from another EU Country), please be aware that it may incur customs charges. Any package assessed by HM Revenue and Customs as being liable for Customs charges will also incur a Royal Mail handling fee of £8.

The Royal Mail customs handling fee is charged for customs clearance of items in respect of which import duty and/or tax is due. Items in respect of which no import duty and/or tax is due will continue to be cleared through customs free of charge.

Any goods imported into the UK over the value of £18 are liable to import VAT; gifts between private individuals over the value of £36 are also liable for VAT. Goods and gifts over these values may also be liable for Customs duty. As of the 1st of December 2008 you will no longer be required to pay customs duty for goods up to the value of £105, however you will still be required to pay import VAT and excise duty where applicable.

Please note that these limits do not apply to alcohol and tobacco goods where both excise duty and import VAT may be charged. It is not permitted to send alcohol and tobacco products into the UK from another EU country unless prior arrangements have been made to account for the excise duty.

For more details please read the Royal Mail guide to receiving goods from overseas.pdf (53kb). And also the HM Revenue & Customs guide to Shopping on the Internet.