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Dreaded VAT

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  • 26-06-2021 1:56pm
    #1
    Visconti
    Registered Users Posts: 301 ✭✭


    Bought a 1982 classic in Northern Ireland, its on English plates I have the V5 etc
    I want to do VRT next week €200 ?
    I didn't do my research properly and I now realise I will have to pay VAT @21%
    Car cost me £4000 I have receipt to prove.
    I would like ZV plates.
    Anyone who has done this process since Brexit that would be prepared to give advice it would be greatly appreciated.
    TIA


Comments

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    #2
    gipi
    Registered Users Posts: 2,855 ✭✭✭gipi


    Hate to break it to you, but the VAT rate is currently 23%....


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    #3
    Isambard
    Registered Users Posts: 5,796 ✭✭✭Isambard


    It hinges on when it entered NI. If since 1st Jan then yes, 23% VAT. If it wasn't built in the UK, then another 10% duty in top of that. Oh and it's based on the invoice price plus the transport costs.

    So no good news really unless you can prove it was in NI last year


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    #4
    Visconti
    Registered Users Posts: 301 ✭✭Visconti


    Isambard wrote: »
    It hinges on when it entered NI. If since 1st Jan then yes, 23% VAT. If it wasn't built in the UK, then another 10% duty in top of that. Oh and it's based on the invoice price plus the transport costs.

    So no good news really unless you can prove it was in NI last year

    Im 99% sure its been in Northern Ireland at least a year as it was garaged to my knowledge.
    Just got onto the gut I bought it off now.
    Car was hand built in Uk . Its an unusual vehicle.


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    #5
    Visconti
    Registered Users Posts: 301 ✭✭Visconti


    Isambard wrote: »
    It hinges on when it entered NI. If since 1st Jan then yes, 23% VAT. If it wasn't built in the UK, then another 10% duty in top of that. Oh and it's based on the invoice price plus the transport costs.

    So no good news really unless you can prove it was in NI last year

    I have a receipt from the guy i got it off. No transport costs as i didn't transport it he delivered it to me . Car needs work so im hoping they dont go on the net and start looking at mint ones.


  • Options
    #6
    Visconti
    Registered Users Posts: 301 ✭✭Visconti


    gipi wrote: »
    Hate to break it to you, but the VAT rate is currently 23%....

    2% makes no difference to me its just pathetic that I never thought of the VAT


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  • Options
    #7
    Fidoodles
    Registered Users Posts: 72 ✭✭Fidoodles


    Visconti wrote: »
    Bought a 1982 classic in Northern Ireland, its on English plates I have the V5 etc

    What address is on the V5, is it Northern Irl or is it England / Scotland / Wales?


  • Options
    #8
    Neilw
    Registered Users Posts: 3,777 ✭✭✭Neilw


    Is the car running? You mention it needs work, if it’s a non runner according to the rules they won’t vrt it.
    Having said that, some on here haven’t been asked to start or drive a car. Twice I was at an inspection they insisted the car had to be started and move under its own power.


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    #9
    Visconti
    Registered Users Posts: 301 ✭✭Visconti


    Fidoodles wrote: »
    What address is on the V5, is it Northern Irl or is it England / Scotland / Wales?

    Wales on the V5. Was shipped over.


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    #10
    Visconti
    Registered Users Posts: 301 ✭✭Visconti


    Neilw wrote: »
    Is the car running? You mention it needs work, if it’s a non runner according to the rules they won’t vrt it.
    Having said that, some on here haven’t been asked to start or drive a car. Twice I was at an inspection they insisted the car had to be started and move under its own power.

    Runs and drives. Just not mint. Needs lots of bits.


  • Options
    #11
    mountai
    Registered Users Posts: 952 ✭✭✭mountai


    Car was hand built in Uk . Its an unusual vehicle.

    Kit Car ?? . If so , could be other complications .


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    #12
    Isambard
    Registered Users Posts: 5,796 ✭✭✭Isambard


    Visconti wrote: »
    Wales on the V5. Was shipped over.

    you need to try and get some paperwork from the shipping company proving it entered NI from GB in 2020 or before.


  • Options
    #13
    Visconti
    Registered Users Posts: 301 ✭✭Visconti


    mountai wrote: »
    Car was hand built in Uk . Its an unusual vehicle.

    Kit Car ?? . If so , could be other complications .

    No not a kit car. Pm sent.


  • Options
    #14
    Visconti
    Registered Users Posts: 301 ✭✭Visconti


    Isambard wrote: »
    you need to try and get some paperwork from the shipping company proving it entered NI from GB in 2020 or before.

    Its all hinging on that . Will keep thread updated.


  • Options
    #15
    KevRossi
    Registered Users Posts: 4,381 ✭✭✭KevRossi


    Visconti wrote: »
    Im 99% sure its been in Northern Ireland at least a year as it was garaged to my knowledge.
    Just got onto the gut I bought it off now.
    Car was hand built in Uk . Its an unusual vehicle.

    Curiosity has the better of me here... can we ask what it is?


  • Options
    #16
    LollipopJimmy
    Registered Users Posts: 5,430 ✭✭✭LollipopJimmy


    I did this recently with a bike. I used a clearing agent for the VAT and duty, its not really possible to do it yourself. However none of my figures were questioned, I was honest though. The receipt for the bike was hand written, all was fine.


  • Options
    #17
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    LollipopJimmy wrote: »
    I did this recently with a bike. I used a clearing agent for the VAT and duty, its not really possible to do it yourself. However none of my figures were questioned, I was honest though. The receipt for the bike was hand written, all was fine.

    Bikes are far easier to VRT, as it's just engine based, and the invoice value (if VAT applies).

    Cars are a whole big other mess, and Revenue will put a value on it (irrespective of what your invoice says) for VRT purposes. They'll only use the invoice to calculate the VAT portion.

    Not so much as they having their cake & eating it, but more like they get to eat their slice and then come back for a 2nd slice....

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



  • Options
    #18
    Casati
    Registered Users Posts: 3,013 ✭✭✭Casati


    Neilw wrote: »
    Is the car running? You mention it needs work, if it’s a non runner according to the rules they won’t vrt it.
    Having said that, some on here haven’t been asked to start or drive a car. Twice I was at an inspection they insisted the car had to be started and move under its own power.

    What happens if it won’t drive and takes you say a year to restore it- do you face penalty’s too?


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    #19
    Isambard
    Registered Users Posts: 5,796 ✭✭✭Isambard


    Casati wrote: »
    What happens if it won’t drive and takes you say a year to restore it- do you face penalty’s too?

    Theoretically yes, there is no provision for non runners, it's VRT in 30 days or penalties with no middle ground (you can see why, there would be thousands of non-runners otherwise)


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