Right, I'm thinking of buying a small item, will be 10 pounds from hong kong. AM i likely to get taxes etc on top of that?

nope, don't think so. (but awaits to be corrected!)
We've had stuff from there before, probably not for more than a tenner, but have never been stung for any costs.

Up to about £18 you don't pay any tax.

Iv had fishing lures from Hong Kong in the past, that cost about £30, didnt pay tax and they took less than a week to arrive !

Buy my daughter's swimming gear from Hong Kong via ebay. Never been stung for anything and always arrives in a timely fashion.

Aye stuff can get here very quickly and I've not had to pay tax.