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+--- Thread: Import tax - a new development (/showthread.php?tid=3581)
Import tax - a new development - stunned_monkey - 28 Aug 2012
So I just started digging into the business of cars of a certain rarity being granted 5% vat on import - as we used to get but which was revoked. Now it seems we have grounds to argue it, given DeLoreans are now 30 years old. Very interesting reading
http://fbhvc.co.uk/value-for-importation/
Re: Import tax - a new development - Guinney1971 - 29 Aug 2012
that's really interesting stuff Martin........ but would a DeLorean purchased for less then £20k still qualify?
Certainly worthy of further investigation and clarification
Re: Import tax - a new development - stunned_monkey - 29 Aug 2012
Guinney1971 Wrote:but would a DeLorean purchased for less then £20k still qualify?
Yes.... if you read the whole article.
Quote:The High Court’s decision means that in future cars which are worth less than £20,000, but which meet the other criteria for classification under heading 97.05, will not be subject to an arbitrary bar to more favourable rates of tax and import duty, which should assist the inflow of imported classic cars into this country.
• rare;
• no longer in normal use for the purpose for which they were originally made;
• bought and sold outside the normal vehicle trade; and
• of high value.
NB no clarification is offered as to the meaning of "rare".
Re: Import tax - a new development - Guinney1971 - 29 Aug 2012
Ah thats good, I read through it all, but wasnt sure if there was a fixed £20k min value or if the value no longer mattered.
I seem to recall the BTI being revoked around 2005, as the HMRC decided that as so many DeLoreans were coming back
to the UK, they were no longer 'rare'.
Re: Import tax - a new development - MikeWard - 30 Aug 2012
This was posted sometime ago on the other club forum. it might be useful for you.
http://www.deloreaneurotec.co.uk/forum/ ... 271#p38271
Re: Import tax - a new development - stunned_monkey - 30 Aug 2012
Yep, that's them. They are wrong about the 3 year rule on duty, I've used it several times but that's kinda irrelevant if we can use the BTI again.
Re: Import tax - a new development - SteveyP - 31 Aug 2012
Just for the info, I've bidded on several US and Canadian D's over the past 6 months or so on Ebay (sadly won none of them - the hunt continues for a cheap one). Therefore have been in discussions with a few Cargo operators about various imports.
P J Grady recommended Schumacher Cargo to me. And they insisted that UK import duty would only be 5% on an '81 DeLorean (infact quoted me for that). I can only presume they know exactly what they are talking about - as they must have imported numerous D's in the past.
So yes, 5% custom's tax is good news for everyone wanting to take advantage of cheaper D's in the States I think.
Re: Import tax - a new development - Chris Williams - 31 Aug 2012
Transglobal have imported loeads into the UK and are also on top of things. Will Pocock is the man to speak to.
Chris
Re: Import tax - a new development - MikeWard - 31 Aug 2012
Chris Williams Wrote:Transglobal have imported loeads into the UK and are also on top of things. Will Pocock is the man to speak to.+1
Tony Lester and Will Pocock from Transglobal know their stuff, and are a pleasure to deal with.
Re: Import tax - a new development - Guinney1971 - 03 Sep 2012
+2 - I used Transglobal to bring my car in 10 years ago, very knowledgeable and helpful.