Importing a 2nd hand car from the US

[Doppelkupplung]

I am interested in buying a BMW Z8 from the US. I visited the gov website on imports and the only thing which isn't clear is how much VAT will be payable when it arrives.

Anyone have any experience importing? Any tips?

Thanks!

[TooMany2cvs]

VAT? 20%. There may also be duty.

[Doppelkupplung]

TooMany2cvs said:

VAT? 20%. There may also be duty.

Yes Vat and duty (@10%).

Wanting to know if this is charged at the purchase price or original retail price?

If bought privately what kind of receipt is required to produce if indeed VAT is charged at purchase price?

[Doppelkupplung]

TooMany2cvs said:

VAT? 20%. There may also be duty.

Yes Vat and duty (@10%).

Wanting to know if this is charged at the purchase price or original retail price?

If bought privately what kind of receipt is required to produce if indeed VAT is charged at purchase price?

[TooMany2cvs]

Doppelkupplung said:

Yes Vat and duty (@10%).

Wanting to know if this is charged at the purchase price or original retail price?

If bought privately what kind of receipt is required to produce if indeed VAT is charged at purchase price?

AIUI, at the purchase price now. If HMCR don't believe the purchase price you state, they reserve the right to charge based on a presumed value. So no claiming you paid $50 for an immaculate '59 Caddy...

[B10BRW]

HMRC will base charges on the CIF value, Cost, Insurance, Freight.
They will want to see a genuine receipt, not a scrap of paper, if they think you have under declared the cars value, it could be seized.
Don't forget that VAT is charged on the Duty as well as the CIF value.

[brianjone5]

The age of the car (Under 10 years), the duration of your ownership (less than 6 months), and the cost of the car to you determine what charges and taxes you will pay.

I imported a car that was just 10 years old, that I had owned for longer than 6 month, and I paid no duty or tax on importation.

[Roo]

brianjone5 said:

The age of the car (Under 10 years), the duration of your ownership (less than 6 months), and the cost of the car to you determine what charges and taxes you will pay.

I imported a car that was just 10 years old, that I had owned for longer than 6 month, and I paid no duty or tax on importation.

The age of the car is irrelevant unless it's over thirty years old.

[TooMany2cvs]

Roo said:

The age of the car is irrelevant unless it's over thirty years old.

But 10yo is relevant when it comes to UK registering it - it's the breakpoint between needing a CoC or IVA vs just needing an MOT.

[Roo]

TooMany2cvs said:

Roo said:

The age of the car is irrelevant unless it's over thirty years old.

But 10yo is relevant when it comes to UK registering it - it's the breakpoint between needing a CoC or IVA vs just needing an MOT.

But has nothing to do with what tax and duty you pay.

[shoestring7]

Yes, speak to Kingstown Shipping in Hull. They know all the C&E wrinkles and will happily do a one-stop-shop for you, inc paper work, transport from dealer to port etc.

SS7