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18-11-2020, 10:36   #16
PauloMN
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As it stands , after 31st December 2020 UK imports will be subject to VAT 21% and import duty 10% same as all other non EU imports .
On what value would the VAT and duty be charged at on a classic?

Say I'm bringing in a car I've paid £5k for in the UK, 30 year old or more. Currently it's the €200 VRT. Is it now going to be an additional 21% of the purchase price, and 10% on the purchase price for import duty?

Gonna rule out a lot of cars realistically if that's the case.
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18-11-2020, 10:47   #17
kadman
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Of course this situation gives a perfect opportunity for the ringers to make a comeback,

and I am not talking bell ringers
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18-11-2020, 11:27   #18
Car99
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well i think the excise duty and VAT will be based on the invoice but I can see them wanting to sort the VRT too at the same time and my guess is imported cars could be held up for days.
Based on the invoice normally but revenue reserve the right to assess goods based on market value if they so wish to stop me rocking up with a hand written invoice for €50.

VRT is contracted to NCT crowd so they wont be bothered about that.
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18-11-2020, 11:30   #19
Car99
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On what value would the VAT and duty be charged at on a classic?

Say I'm bringing in a car I've paid £5k for in the UK, 30 year old or more. Currently it's the €200 VRT. Is it now going to be an additional 21% of the purchase price, and 10% on the purchase price for import duty?

Gonna rule out a lot of cars realistically if that's the case.
It's going to be 10% of the cost of the goods including shipping costs.

Then 21% VAT of the total . (23% post covid)
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18-11-2020, 11:55   #20
Isambard
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Quote:
Originally Posted by PauloMN View Post
On what value would the VAT and duty be charged at on a classic?

Say I'm bringing in a car I've paid £5k for in the UK, 30 year old or more. Currently it's the €200 VRT. Is it now going to be an additional 21% of the purchase price, and 10% on the purchase price for import duty?

Gonna rule out a lot of cars realistically if that's the case.
and VAT on the transport costs too I think. Seems very likely, hard to see what deal can be done.
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18-11-2020, 12:07   #21
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I think it is 10% import duty over the cost of the car + cost of transport to get it here + costs of insurance to get it here and then 21% VAT on top of the lot of that (tax on tax) and then of course also the VRT which will remain at €200 as long as the car is >30 years old

So if the car was GBP1800, transport €800 and €200 insurance, you pay 10% (€2000+€800+€200) = €300 import duty and then 21% (€3000 + €300) = €700 VAT and €200 VRT

So €4200 in total for your GBP1800 car!

Last edited by unkel; 18-11-2020 at 12:11.
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18-11-2020, 12:55   #22
kadman
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I think it is 10% import duty over the cost of the car + cost of transport to get it here + costs of insurance to get it here and then 21% VAT on top of the lot of that (tax on tax) and then of course also the VRT which will remain at €200 as long as the car is >30 years old

So if the car was GBP1800, transport €800 and €200 insurance, you pay 10% (€2000+€800+€200) = €300 import duty and then 21% (€3000 + €300) = €700 VAT and €200 VRT

So €4200 in total for your GBP1800 car!
Ouch..

Looks like Irish classics will be more expensive too then..
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18-11-2020, 13:00   #23
Car99
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Originally Posted by unkel View Post
I think it is 10% import duty over the cost of the car + cost of transport to get it here + costs of insurance to get it here and then 21% VAT on top of the lot of that (tax on tax) and then of course also the VRT which will remain at €200 as long as the car is >30 years old

So if the car was GBP1800, transport €800 and €200 insurance, you pay 10% (€2000+€800+€200) = €300 import duty and then 21% (€3000 + €300) = €700 VAT and €200 VRT

So €4200 in total for your GBP1800 car!
I would think that would be worst case scenario for an £1800 car . You could save on shipping and insurance from the UK if you made the effort.
I wonder will it be complicated process clearing customs would the services of a handling agent be required to smooth and speed up the process for a normal punter.
I used a handling agent anytime I brought a car from Japan to make the process pain free for a reasonable fee.
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18-11-2020, 17:40   #24
unkel
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I would think that would be worst case scenario for an £1800 car . You could save on shipping and insurance from the UK if you made the effort.
How much do you think it would cost to have someone pick up the car in the UK, ship it over the Irish sea, then bring it over to customs here in Ireland, arrange for all formalities and once done, pick it up and then drop the car to you at your home in Ireland? I don't think €1000 for all that including insurance is that extreme?

We'll never go back to the days, like when a few years ago, I got a €20 flight, a €65 ferry, a sandwich and a bottle of water at a service station in the UK and a glass of wine on the overnight ferry back, bringing in a car for the grand total of about €95
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18-11-2020, 21:43   #25
Car99
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How much do you think it would cost to have someone pick up the car in the UK, ship it over the Irish sea, then bring it over to customs here in Ireland, arrange for all formalities and once done, pick it up and then drop the car to you at your home in Ireland? I don't think €1000 for all that including insurance is that extreme?

We'll never go back to the days, like when a few years ago, I got a €20 flight, a €65 ferry, a sandwich and a bottle of water at a service station in the UK and a glass of wine on the overnight ferry back, bringing in a car for the grand total of about €95
€1000 for all that if you could get someone to do it would be fine. I was thinking you could save money by doing as you did back in the day and pay a handling agent to look after the customs side at the port alot of which can be done in advance of the vehicle and you arriving at the port.
I paid €100 to look after the handling on and off the ferry plus customs clearance a number of years back on a car from Japan in Dublin port.
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18-11-2020, 21:56   #26
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Ouch..

Looks like Irish classics will be more expensive too then..
cars already in the Republic will go up in value
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19-11-2020, 00:07   #27
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cars already in the Republic will go up in value
Not when the ar5e falls out of prices on classics in the UK , it was also a safety valve here for an irish price floor which will now evaporate . Unsold irish classics were shipped over in bulk, during our hard times and even up to recently in smaller numbers.

I can already see on eBay , project classics not meeting reserves and not selling in UK , in 18 months , I bet you’ll see pristine cars making buttons over there. The hard part is going to be how to decide which ones to jump on and when.
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19-11-2020, 08:54   #28
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If the UK market as a source of classic cars for a potential buyer
is now gone because of the change in vat,tax,and customs,

then the only market is Ireland or an eu country, then I can only see prices rising
here.

Of course only time will tell.
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19-11-2020, 09:28   #29
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it was also a safety valve here for an irish price floor which will now evaporate . Unsold irish classics were shipped over in bulk, during our hard times
All true.

The value of Irish classics still here is extremely low at the moment though, our hobby was decimated because of the recession. People were forced to put there cars up for sale, with little to no demand (here), with many good cars going back across the pond and the value of remaining cars collapsing. And the current crisis didn't help when people (like myself) driving a lot less than before really couldn't justify keeping classic cars as well as their normal cars

I can't really see them go down in value even further unless we get a recession that's even worse than the last one (which was the worst in nearly 100 years). Can't see it happening. Or should I see I sure hope it won't be happening!
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19-11-2020, 22:53   #30
Car99
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If the UK market as a source of classic cars for a potential buyer
is now gone because of the change in vat,tax,and customs,

then the only market is Ireland or an eu country, then I can only see prices rising
here.

Of course only time will tell.
LHD cars will have to become a considered option and as someone who drives a LHD classic car here it's not a problem. I would buy another LHD without hesitation.
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