VAT and import duty on used cars bought in Europe
Discussion
does it require paying if bought from a private individual?
Got a funny situation going on at the moment trying to buy a US truck off and american serviceman who bought it in Germany and is now based in Naples!
The vehicle has 'German Title' and he has a TUV reciept too.
talk about round the houses!
any advice gladly received!
Got a funny situation going on at the moment trying to buy a US truck off and american serviceman who bought it in Germany and is now based in Naples!
The vehicle has 'German Title' and he has a TUV reciept too.
talk about round the houses!
any advice gladly received!
I'm no expert, but think you don't pay VAT on second hand as it's already been payed in Europe, although a US serviceman MAY have been exempt! and there could still be tax to pay on the second hand price? I believe import duty is not too high though. HM customs have a web site and give a phone no. for enquires.
If you're VAT registered, and you sell something, you have to charge VAT on it. Thats the way I understand things.
I would imagine that as soon as you import it into the UK, customs will want to charge you 17.5% of its value. However - if you paid cash for it, how will they know what it cost (tread carefully though)?
I would imagine that as soon as you import it into the UK, customs will want to charge you 17.5% of its value. However - if you paid cash for it, how will they know what it cost (tread carefully though)?
Bergs2 said:
does it require paying if bought from a private individual?
Got a funny situation going on at the moment trying to buy a US truck off and american serviceman who bought it in Germany and is now based in Naples!
The vehicle has 'German Title' and he has a TUV reciept too.
talk about round the houses!
any advice gladly received!
Berg2, as I said yesterday I'd be very careful with this...
TüV püaperwork is only the MOT (and possible EU compliancy), it does NOT mean that the car has been correctly imported i.e. Import duties and VAT paid on it. You MUST ensure you have these (or the previous german registration paperwork) otherwise you WILL get hammered for import duty into GB an VAT on top of that!!!!!
If in doubt contact me through my profile, you can then fax me the paperwork and I'll look at it for you.....
John
JMGS4 said:
Bergs2 said:
does it require paying if bought from a private individual?
Got a funny situation going on at the moment trying to buy a US truck off and american serviceman who bought it in Germany and is now based in Naples!
The vehicle has 'German Title' and he has a TUV reciept too.
talk about round the houses!
any advice gladly received!
Berg2, as I said yesterday I'd be very careful with this...
TüV püaperwork is only the MOT (and possible EU compliancy), it does NOT mean that the car has been correctly imported i.e. Import duties and VAT paid on it. You MUST ensure you have these (or the previous german registration paperwork) otherwise you WILL get hammered for import duty into GB an VAT on top of that!!!!!
If in doubt contact me through my profile, you can then fax me the paperwork and I'll look at it for you.....
John
Thanks John - Will do
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