Importing A Car From The US
Discussion
thats interesting info- I've often wondered whats involved- especially after seeing wheeler dealers importing cars from the US.
What they failed to mention in the list of costs, on wheeler dealers, was the 10% import duty and 20% tax on a non EC manufactured car - so on a purchase of £7000 theres an additional £2240 to pay in charges.... then theres the SVA test and modifications... plus an MOT (?)
Then you have LHD insurance premiums etc...
I suppose the car REALLY has to be worth it!
What they failed to mention in the list of costs, on wheeler dealers, was the 10% import duty and 20% tax on a non EC manufactured car - so on a purchase of £7000 theres an additional £2240 to pay in charges.... then theres the SVA test and modifications... plus an MOT (?)
Then you have LHD insurance premiums etc...
I suppose the car REALLY has to be worth it!
lestershaw said:
And VAT goes on the cost of the shipping
the import duty is based on the value of the car.
so if there is someway of getting the car valued lower, no pinks, not matching numbers etc
iirc
Who decides the value? Is there a guide you can view to see how much import duty you're likely to pay on a particular car?the import duty is based on the value of the car.
so if there is someway of getting the car valued lower, no pinks, not matching numbers etc
iirc
Tophatron said:
lestershaw said:
And VAT goes on the cost of the shipping
the import duty is based on the value of the car.
so if there is someway of getting the car valued lower, no pinks, not matching numbers etc
iirc
Who decides the value? Is there a guide you can view to see how much import duty you're likely to pay on a particular car?the import duty is based on the value of the car.
so if there is someway of getting the car valued lower, no pinks, not matching numbers etc
iirc
Tophatron said:
Who decides the value? Is there a guide you can view to see how much import duty you're likely to pay on a particular car?
It's based on what you pay for it. There have been recent changes about who can export cars as they need an employee number or something which means they can track exports and ensure it's all pukka.HMRC now allow certain vehicles over thirty years old to be entered through customs without paying any duty and just 5% VAT.
This is known as BTI / 9705 entry for Historic Vehicles Import Relief and significantly lowers the bill. I've now realised that Brwer's Jeep would have qualified for this.
LuS1fer said:
It's based on what you pay for it. There have been recent changes about who can export cars as they need an employee number or something which means they can track exports and ensure it's all pukka.
HMRC now allow certain vehicles over thirty years old to be entered through customs without paying any duty and just 5% VAT.
This is known as BTI / 9705 entry for Historic Vehicles Import Relief and significantly lowers the bill. I've now realised that Brwer's Jeep would have qualified for this.
That's interesting. Do Mustangs count? HMRC now allow certain vehicles over thirty years old to be entered through customs without paying any duty and just 5% VAT.
This is known as BTI / 9705 entry for Historic Vehicles Import Relief and significantly lowers the bill. I've now realised that Brwer's Jeep would have qualified for this.
Tophatron said:
That's interesting. Do Mustangs count?
There was a phase when HMRC cracked down on what constituted a historic vehicle and for a while everyone paid the full whack and historic meant rare and historically significant. However, some of the importers are now suggesting they have significantly eased up on this, of late, and are allowing cars like 60s Mustangs through with the 5% VAT. In that respect, it may be better to use companies like Golden Chariots (others are available) who know their stuff on this.
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