VRT query - to wait or not to wait

basill

Hi there, I have my eye on a BMW 2006 520D M Sport over in the UK. If I register it pre July 1 it looks like the VRT is at the old rates of around 30% but wait until 1 July and with emmissions of only 138 co2 it goes down to 14% of the OPSM. Road tax goes down to only 160 euros or so per annum as well so it becomes one very cheap car to run.

Question is do I have to pay any VAT on this? I think I read somewhere that VAT is only applicable for cars less than 6 months old.

Also what if I brought it in over the weekend but waited to register it till after 1 July. Will Revenue be applying 2 sets of VRT rates from 1 July depending on when the vehicle is physically brought into Ireland or will there only be the one set of rates based on emissions alone? Will they ask to see the ferry crossing tickets to prove I landed it after 1 July?

Thanks in advance.

Cyrus

you are slightly misinformed

vrt will be at the low rate but your car tax will remain under the old system

vat is only payable on cars under 6,000km or 6mths old

basill

Thanks for that. So are you saying that the new emission based road tax rates only apply to brand new cars then and newly registered in Ireland?

If so then I am guessing the "old" road tax rates will eventually be brought into line with the emissions based bands and although the old road tax rates are higher then they should come down in a year or so?

unkel

What Cyrus said

basill wrote: »

So are you saying that the new emission based road tax rates only apply to brand new cars then and newly registered in Ireland?

Any new or second hand car that was originally registered on or after 01/01/2008

basill wrote: »

Also what if I brought it in over the weekend but waited to register it till after 1 July

You're supposed to register it within a day.

Rels

You're supposed to register it within a day.[/quote]

Hes right but hang on till d first, u should get away with it;) sorry ment wiil:D

R.O.R

basill wrote: »

If I register it pre July 1 it looks like the VRT is at the old rates of around 30% but wait until 1 July and with emmissions of only 138 co2 it goes down to 14% of the OPSM.

As E92 isn't around.....


CO2 emissions of 138 would put it in the 16% VRT Category, but that is only applicable to the ED (efficient dynamic) models from March '07 onwards (I think). Older models will have higher CO2 emissions which you'd need to check.

basill

Thats my worry that they will ask me for evidence of the ferry crossing and if I bring it in early then I am stuffed. Then I would have to high tail it to Dublin port and back to Holyhead and back in the same day on 2 single tickets:)

Mc-BigE

I think your mad to bring it in July, the reason is the OMSP (Open Market Selling Price ) is based on a figure which is calculated on what the government and motor industry think the car is worth, because the OMSP of a new 520d will drop to the new VRT rate, the second hand OMSP will drop also, but IMO not straight away as irish dealers will try to keep these type of irish equivent cars overpriced, which in turns effects the OMSP price quoted by the VRO. I would say wait until Jan 2009 until the dealers get into serious financial trouble and will have to shift 05/06/07 cars at knock down prices and the OMSP price drops, then go to the UK and buy or buy here.

To summarise , wait 6 months until the over inflated OSMP drops
And get a bargin, but your Road tax will still be 600 euro, but you shouldn’t care.

unkel

R.O.R wrote: »

CO2 emissions of 138 would put it in the 16% VRT Category, but that is only applicable to the ED (efficient dynamic) models from March '07 onwards (I think). Older models will have higher CO2 emissions which you'd need to check.

Well spotted. A standard 520d manual (2005-2007) has CO2 emissions of 158g/km, attracting 24% VRT

Cyrus

R.O.R wrote: »

As E92 isn't around.....


CO2 emissions of 138 would put it in the 16% VRT Category, but that is only applicable to the ED (efficient dynamic) models from March '07 onwards (I think). Older models will have higher CO2 emissions which you'd need to check.

good point

also they wont ask (or they dont normally) for proof of when you imported it

dont count on the old tax rates ever decreasing either

some good advice in the thread, wait a few months until it all settles down

JHMEG

unkel wrote: »

Well spotted. A standard 520d manual (2005-2007) has CO2 emissions of 158g/km, attracting 24% VRT

Was going to say this. Won't be as good as you were hoping but will be better than the old rate of 30%.

VAT doesn't come into it, as the car is well and truly 2nd hand.