importing cars
Discussion
Hi there.I am a new member,but I came across a post from about a year ago with regard to importing cars from the USA.My brother in law lives over there so it would be a lot easier to have a base.Has anybody got anymore clarification on the issue of import duties relating to classic cars.In the post it was zero import and only a reduced rate of 5% vat,but proving it was eligible looked like a nightmare.Any info fellas? cheers
This was a reply from Golden Chariots on the Mustang Forum after HM customs had been cracking right down on the 5% cars for some time:
"We've successfully been importing vehicles more than 30 years old all this year now at the reduced rate of 0% Duty & 5% VAT.
If the vehicle is between post 1950 and 30 years old then you need to make a BTI application at least 6 weeks before your vehicle arrives as it takes that long for them to approve.
Pre-1950 vehicle are virtually automatically approved.
Give us a call if you need any help.
BTW you need to remember that any duty or VAT is calculated on the following calcs.: -
Duty is calculated at the cost of the vehicle + the Ocean Freight + Collection Charge + Fees + Insurance, then multiplied by the rate.
VAT is calculated by adding the above total figure plus the amount duty, then multiplying by the relevant rate of VAT.
Hope that helps. I understand they are not as rigid as they have been and that some classic Mustangs have been imported and been granted this. I suppose the risk is that they might not.
"We've successfully been importing vehicles more than 30 years old all this year now at the reduced rate of 0% Duty & 5% VAT.
If the vehicle is between post 1950 and 30 years old then you need to make a BTI application at least 6 weeks before your vehicle arrives as it takes that long for them to approve.
Pre-1950 vehicle are virtually automatically approved.
Give us a call if you need any help.
BTW you need to remember that any duty or VAT is calculated on the following calcs.: -
Duty is calculated at the cost of the vehicle + the Ocean Freight + Collection Charge + Fees + Insurance, then multiplied by the rate.
VAT is calculated by adding the above total figure plus the amount duty, then multiplying by the relevant rate of VAT.
Hope that helps. I understand they are not as rigid as they have been and that some classic Mustangs have been imported and been granted this. I suppose the risk is that they might not.
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