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BREXIT - The impact on importing cars?

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24567

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    #32
    philstar
    Banned (with Prison Access) Posts: 2,986 ✭✭✭philstar


    and how about VRT is there a legal loophole....buying a car from a country thats outside the EU??

    is VRT relevant in such a case?


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    #33
    drunkmonkey
    Registered Users Posts: 28,120 ✭✭✭✭drunkmonkey


    It could go to parity yet 1 for 1, it's way to early to tell, sterling was going well probably at full value, it's going to take a hammering. US and Euro markets yet to open today probably have a better idea later today, it's a gamble today could be the day to buy as the swings are massive or you could hold tight and hope sterling collapses.


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    #34
    drunkmonkey
    Registered Users Posts: 28,120 ✭✭✭✭drunkmonkey


    philstar wrote: »
    and how about VRT is there a legal loophole....buying a car from a country thats outside the EU??

    Oh Jazus, vat+Vrt


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    #35
    goochy
    Registered Users Posts: 4,305 ✭✭✭goochy


    With sterling after dropping after result , it will make it cheaper to import a car now but what will happen when the offically leave ?


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    #36
    buzzing147
    Registered Users Posts: 437 ✭✭buzzing147


    Think positive..maybe this brexit carry on will mean vrt will be set at 400euro, instead of 4000euro, ah one can dream!
    Hopefully not too damaging because i wouldnt buy a car in an irish dealership, usually a lot less spec and way overpriced, yet the salesmen still explains how great this 141,000 miles car is....


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    #37
    Del2005
    Registered Users Posts: 18,942 ✭✭✭✭Del2005


    goochy wrote: »
    With sterling after dropping after result , it will make it cheaper to import a car now but what will happen when the offically leave ?

    More taxes when they leave. You'll have to pay VAT on the landed cost, including ferry, and then VRT.


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    #38
    Caliden
    Registered Users Posts: 5,982 ✭✭✭Caliden


    I sincerely doubt VRT rates will drop overnight once they officially leave.

    Once they do leave it seems that customs will also need to be paid on top of VRT.


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    #39
    millington
    Registered Users Posts: 1,287 ✭✭✭millington


    philstar wrote: »
    and how about VRT is there a legal loophole....buying a car from a country thats outside the EU??

    is VRT relevant in such a case?

    VRT has nothing got to do with the EU

    When the UK leaves, there will be 10% customs, 23% VAT and VRT on any imported UK cars


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    #40
    maximum12
    Closed Accounts Posts: 666 ✭✭✭maximum12


    millington wrote: »
    When the UK leaves, there will be 10% customs, 23% VAT and VRT on any imported UK cars

    Neither you or anyone else has any idea what will happen if/when the UK leaves the EU.

    Extremely unlikely they will be out within 2 years due to the legal complexities.

    The only thing we know is that Sterling has fallen so UK cars are cheaper today than they were yesterday.


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    #41
    colm_mcm
    Registered Users Posts: 73,415 ✭✭✭✭colm_mcm


    Fallen but not crashed, down 6% or something, on the day this is announced.


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    #42
    jelutong
    Registered Users Posts: 1,159 ✭✭✭jelutong


    Duke O Smiley wrote: »
    Firstly this isn't a thread to discuss Brexit in its entirety..there is a thread for that over in the politics forum. Mods I hope you don't mind this thread being started either, just genuinely curious to hear other people's views on this as car enthusiasts.

    So if Britain leaves the EU, Ireland will be the only right hand drive country left in Europe. So of course any car imported from outside of the EU will be liable for VAT, customs duty etc on top of VRT and what have you.

    Will it be the end of UK imports, and will out only market be the home market?

    Will it spell the end of imports into the country and encourage more people to buy more new cars here or will we just see a slight decline in the reams of A4s and Insignias, Passats etc coming in?
    Time to go L.H drive perhaps?


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    #43
    Del2005
    Registered Users Posts: 18,942 ✭✭✭✭Del2005


    maximum12 wrote: »
    Neither you or anyone else has any idea what will happen if/when the UK leaves the EU.

    Extremely unlikely they will be out within 2 years due to the legal complexities.

    The only thing we know is that Sterling has fallen so UK cars are cheaper today than they were yesterday.

    We know that there are import duties and VAT on items imported from outside the EU. We know that the UK wants to restrict EU citizens right to work in the UK. We know that Switzerland is not in the EU and that we have duty free allowances when travelling there and when they tried to impose restrictions on EU citizens right to travel they were told in no uncertain words that you can't pick and choose which parts of the EU principles you implement.

    So for the next 2 years we've no idea what's going to happen, there might not be a UK then, but once they leave there will be extra taxes on UK imports unless they do the exact opposite of why they voted to leave.


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    #44
    Mr. Farage
    Closed Accounts Posts: 190 ✭✭Mr. Farage


    The days of importing cheap(er) cars and motorbikes from the UK are over. The UK is out and you might as well be bringing in a motor from India.


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    #45
    maximum12
    Closed Accounts Posts: 666 ✭✭✭maximum12


    Del2005 wrote: »
    We know that there are import duties and VAT on items imported from outside the EU.

    There's no VAT on goods imported from outside the EU.

    Import duties are not blanket duties on all goods. Entirely plausible that UK-EU would agree not to apply duties to the movement of cars.


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    #46
    bear1
    Registered Users Posts: 12,812 ✭✭✭✭bear1


    Duke O Smiley wrote: »
    Firstly this isn't a thread to discuss Brexit in its entirety..there is a thread for that over in the politics forum. Mods I hope you don't mind this thread being started either, just genuinely curious to hear other people's views on this as car enthusiasts.

    So if Britain leaves the EU, Ireland will be the only right hand drive country left in Europe. So of course any car imported from outside of the EU will be liable for VAT, customs duty etc on top of VRT and what have you.

    Will it be the end of UK imports, and will out only market be the home market?

    Will it spell the end of imports into the country and encourage more people to buy more new cars here or will we just see a slight decline in the reams of A4s and Insignias, Passats etc coming in?

    Malta and Cyprus drive on the left.


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    #47
    shietpilot
    Closed Accounts Posts: 2,881 ✭✭✭shietpilot


    Well if dealers start importing cars from mainland Europe maybe it's a good chance to switch over to LHD cars in Ireland?


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    #48
    bazz26
    Registered Users Posts: 51,169 ✭✭✭✭bazz26


    Not going to happen, more involved in changing than there would be to benefit from it.


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    #49
    Marcusm
    Registered Users Posts: 10,227 ✭✭✭✭Marcusm


    drunkmonkey wrote: »
    It could go to parity yet 1 for 1, it's way to early to tell, sterling was going well probably at full value, it's going to take a hammering. US and Euro markets yet to open today probably have a better idea later today, it's a gamble today could be the day to buy as the swings are massive or you could hold tight and hope sterling collapses.

    Currency markets are 24hours globally traded. GBP rose to 1.30 at 10pm in expectation of a Remain win. When Sunderland result came in, it dropped close to 1.20 and has since recovered to 1.24 or so. This is still within the range for earlier this year.

    Market participants are more bearish on the EUR side of the trade with some predicting 1.35-1.4 by 2017. The problem is that while the uncertainty is negative for GBP, it now introduces greater instability within Euro zone as a whole - both political and currency instability.


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    #50
    ei9go
    Registered Users Posts: 1,018 ✭✭✭ei9go


    Maybe a lot of people don't remember importing goods from the UK before the single market.

    When you bought mail order, you didn't pay UK vat so paid 17.5% less for the item.

    Mostly you got away with not paying the Irish VAT so it was a huge win.


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    #51
    millington
    Registered Users Posts: 1,287 ✭✭✭millington


    maximum12 wrote: »
    Neither you or anyone else has any idea what will happen if/when the UK leaves the EU.

    Extremely unlikely they will be out within 2 years due to the legal complexities.

    The only thing we know is that Sterling has fallen so UK cars are cheaper today than they were yesterday.
    Yes today they're cheaper but assuming they actually leave and are to be treated like any other non-EU country, there will be 10% customs duty & 23% VAT on cars.
    maximum12 wrote: »
    There's no VAT on goods imported from outside the EU.

    Yes there is that is just 100% incorrect.


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    #52
    biko
    Registered Users Posts: 81,223 ✭✭✭✭biko


    A source saves a thousand words.


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    #53
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,665 Mod ✭✭✭✭Henry Ford III


    bazz26 wrote: »
    Not going to happen, more involved in changing than there would be to benefit from it.

    Agreed although these guys are intent on the change to driving on the right, but only on a gradual basis :D

    II%20Dail%201%20TB_3.jpg


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    #54
    bazz26
    Registered Users Posts: 51,169 ✭✭✭✭bazz26


    I'm sure it's God's way just like climate change.


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    #55
    h3000
    Registered Users Posts: 6,467 ✭✭✭h3000


    Henry Ford III wrote: »
    Agreed although these guys are intent on the change to driving on the right, but only on a gradual basis :D

    [IMG]htjtp://cdn-03.independent.ie/incoming/article34528460.ece/c0405/AUTOCROP/w620/II%20Dail%201%20TB_3.jpg[/IMG]
    HGVs, Agri and busses first.

    0118 999 881 999 119 725 3



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    #56
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    maximum12 wrote: »
    There's no VAT on goods imported from outside the EU.
    Good one ;););)


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    #57
    maximum12
    Closed Accounts Posts: 666 ✭✭✭maximum12


    Special Circumstances wrote: »
    Good one ;););)

    The VAT issue is too complicated to explain to people who don't have tax qualifications. However, the point is that Brexit has zero impact on the VAT on cars.


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    #58
    colm_mcm
    Registered Users Posts: 73,415 ✭✭✭✭colm_mcm


    Henry Ford III wrote: »
    Agreed although these guys are intent on the change to driving on the right, but only on a gradual basis :D

    II%20Dail%201%20TB_3.jpg

    After a feed of pints.


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    #59
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    maximum12 wrote: »
    The VAT issue is too complicated to explain to people who don't have tax qualifications.
    lolz, where have I heard X is too complicated to explain to thickos like me. Just registered recently did you? Hmmmmm.

    I'll try the "you're too thick to charge me VAT" line with DHL or whoever bring my next parcel from outside the EU will I?
    maximum12 wrote: »
    However, the point is that Brexit has zero impact on the VAT on cars.


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    #60
    bear1
    Registered Users Posts: 12,812 ✭✭✭✭bear1


    shietpilot wrote: »
    Well if dealers start importing cars from mainland Europe maybe it's a good chance to switch over to LHD cars in Ireland?

    We can't even teach people to stay on the left side of a motorway never mind teaching them to drive on the other side.
    Besides, imagine the interchanges that would need to be constructed everywhere along the border.


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    #61
    bear1
    Registered Users Posts: 12,812 ✭✭✭✭bear1


    maximum12 wrote: »
    There's no VAT on goods imported from outside the EU.

    Import duties are not blanket duties on all goods. Entirely plausible that UK-EU would agree not to apply duties to the movement of cars.

    You're joking right?


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