hi guys.
my car\'s nearly here and i\'ve just spoken to the shipping guys about customs clearance.
now, i AM a total newbie to such things as car importing and therefore a bit naive, but i was stunned to find out that customs will want 10% duty and 17.5% VAT!
have any other forum members stumbled upon a 27.5% increase in the total cost of your import, or do trade importers factor this into the cost of advertised cars?
i can\'t believe i gotta find another £2k:mad: :mad: :mad:
gord:D
Its factored in. Everyone has to pay it. Its actually more than 27.5%.
First off you pay the 10% import duty on everything, and then the VAT at 17.5% is added on top of this so you pay VAT on the Duty too.
jeez. oh well.
personal importers beware! :(
cheers
gord:D
Hmm this is for the RX3?
I think theres a date before which you dont have to pay some of the stuff. Im not sure if the 70\'s is old enough but might be worth a look.
Cheers
Lee
yup been stung for that before, it also aplies to parts over a certain value too but then you also get stung for the shipping company charging you for them paying the tax for you !
Its actually 117.5% of 110% of the price inlcuding the shipping charges so you end up paying 29.25% of whatever it cost to buy and ship !
and the duty is 10% of the (cost of Car + Cost of shipping).
holy shit it just grows and grows:reallymad
this car is gonna bankrupt me before i can drive it:(
i guess the lesson is: learn all there is to know before you take something on...
hope some other members can learn from my mistakes.
thanks for the info guys
gord:D
QuoteOriginally posted by flectron
but i was stunned to find out that customs will want 10% duty and 17.5% VAT!
Nice to see you looked into this importing thing thoroughly!
Yep, as Lee says its more than 27.5%, more like 29%+ :(
Declared cost of car say £10,000
(including I think: Export, shipping and insurance?)
Duty (£10,000 x 0.1) = £1,000
Sub total = £11,000
VAT on cost+duty (£11,000 x .175) = £1925
Total cost £12,925
Get saving quick matey! Will be worth it tho :D
Rich
yeah i feel mighty stupid now mate. like i say i hope my mistakes are helpful to others.
i just did the math.... if i don\'t get any breaks for an older car then i owe customs.... £2778.75!!
that stings i can tell you.
gord:D
QuoteOriginally posted by flectron
yeah i feel mighty stupid now mate. like i say i hope my mistakes are helpful to others.
Dont worry mate, we are just more used to being done in the butt as far as any thing tax is concerned! :(
Is this a car you owned elsewhere as a resident or one you are importing? Cos I thought if you already owned it as a resident, you didn\'t need to pay so much tax...??
alas no, bought it off a guy on ausrotary forum. i think you\'re right tho, it would be way cheaper if i\'d owned it overseas.
gord:D
At least it isn\'t as bad as where my dad is, they have 65% duty on new car imports or 45% secondhand. Needless to say when my dad buys cars he has 2 receipts made up! (one cheap one for the taxman!)
Although surely we could just buy a car in Aus/NZ or Japan and keep it over there for 6 months, import it as our own car? Hmmm, plotting ways to avoid tax is always a good way to spend a Monday
I think its 2 years not 6 months. Would have to check though. Youd probably need it registered to you out there as well though to get it without duty.
I think it\'s 2 years too. I\'m looking at jobs in Aus at the moment and I don\'t think I\'m going to be able to take my car with me :(
65% tax? Ouch.
I dread to think what it\'s like here, but I do know they charge a US$10,000 inspection/assesment fee on any car imported.
Wether you bring in one or ten, it\'s the same price. Which is a good reason to bring in 10 and sell them to your friends!
Wondering wether something from Oz might be interesting to the locals or not. A couple of Utes might be fun for drifting, no?
I did once wonder if I could send TVR\'s and stuff to Japan like lots of cars come here. Probably too much effort though and I have seen them out there so someone must be doing it.
i had to pay an extra £1500 on mine m8, but this was expected!!!
It looks from the paperwork like i may be able to pay a deposit, get the car and pay the rest off. which downgrades a total catastrophe to a mere royal pain in the ass.
wonder if they\'ll accept 10p a week for the next .... (furious mental calculation) .... 520 years? hmm doubt it somehow.
gord:D
But you cant register it untill you have the forms saying the duty is paid.
I think.
You certianly need the customs clearance form which I dont think youd get without paying the VAT and Duty.
customs won\'t release the car until all payments have been fully paid. that\'s what happened with mine:rolleyes:
darn. see y\'all at rotorstock 2010 then.
having a baaaad monday.
gord:D
One good thing matey to come out of all of this messing around is that you have manged to get a one off car that looks stunning, so its not all bad hey???:)
thanks man, i just gotta keep reminding myself that. who ever said fulfilling a dream would be easy? :rolleyes:
as soon as i get done with the bs and get to take her for a burn i know it\'ll all have been worthwhile.
may have a slightly tender wallet for a few months tho, after roughly receiving the taxman\'s ample girth...
gord:D
tell you what being a nice chap and all I\'ll pay the tax and you can pay me back at 10p per week for the next 520 years.
oh and i get to keep the car till its paid back :D
Cheers ~ Mike
hehe. thanks for the offer mike. gonna have to decline tho...
gord:D
hey just a thought. would it have made a difference if i shipped it to eire? or would i have to do it through an s.irish contact to avoid the same grief at uk border...?
gord:D
Not sure but what if the car was not for you but for a relative??? As a present??? might be something in that i believe unless i am wrongly informed:confused:
dunno mate. sounds good tho. give it to my g/f for xmas (but fordbid her to drive it);)
gord:D
The gift theory sounds like it should be well worth looking into.
Would it help if it was being bought by an aussie? I would be happy to have my name on the rego papers>:evillaugh :evillaugh
Seriously though if it would save you a stack of cash then I would help if i could. ( and yes you would get to keep the car! just keep mike away from it.:D )
Cant wait to see it anyway, bloody awesome machine. Hmm, and its aussie built too. Wonder if there is anythng in that.:bandit .
travellinbob runs out of the room ducking the bullets.
thanks for the kind offers, but it\'s gonna be in my name, ok people? step away from the car. ;)
i\'m gonna try and get a VAT break by claiming it\'s of historical interest, which reduces it from 17.5% to 5%.
i need some back-up but the prez said he\'d help (cheers clive:wave).
seems like there\'s a long lead time on these applications, so i\'ll probably have to pay in full (cheers bank:wave) and try and claw some back whenever the lovely VAT people are ready. :rolleyes:
gord:D
ps no bullets here bob, i agree when it comes to old-skoolers. don\'t know if carl will tho.. or our kiwi friends..;)
is it here yet ?????????
yep, arrived yesterday! :)
but it\'s in southampton, and will be for a couple of days til it\'s cleared customs, etc. bloke reckons he\'ll have it here monday by the latest, making this already the longest week in history.:rolleyes:
paid the duty/ vat yesterday, came to £2385.11 which smarted a little, but i\'m over it - i\'m not prepared to get down about money. if i was a financially responsible type of bloke i wouldn\'t be buying this car in the first place, rather an economical little runaround like a fiat 126 or summat:p
soooo, expect the first pix sometime next week.
gord:D
That\'s great news Gord :D
I\'m looking forward to seeing it about. You will drive it wont you?? Not just keep it locked away until the 2 days of sunshine we get each year!
Simon :wave
hi simon :wave
well....
i\'ll drive it more than the previous owner (about 300km/year :eek: ), but i am going to be a bit precious about taking it out in the rain... also i\'ve got classic insurance for it which limits the mileage to 5000 p/a..
when yours gets back we could have a mini meet and see if any other glos rotors wanna meet...?
i bought my little 1000 to be my daily driver - you seen it buzzing round town yet?
it\'s definitely the only one in \'nam! (pics in link in sig.)
gord:D
Gord,
Great News on the Car. I used to live in Glos and i may be down with my shiny new motor shortly. If i do ill let you know so we can go through the inner ring of cheltenham and upset to multiple chavs that hang around the bus station in there XR2i\'s
:rollin
hehehehe i proposed exactly the same thing to simon (weaslerx7).
but yeah definitely let me know if you\'re around \'nam - i\'d love a look at your shiny new beast.
gord:D
QuoteOriginally posted by flectron
yep, arrived yesterday! :)
but it\'s in southampton, and will be for a couple of days til it\'s cleared customs, etc. bloke reckons he\'ll have it here monday by the latest, making this already the longest week in history.:rolleyes:
paid the duty/ vat yesterday, came to £2385.11 which smarted a little, but i\'m over it - i\'m not prepared to get down about money. if i was a financially responsible type of bloke i wouldn\'t be buying this car in the first place, rather an economical little runaround like a fiat 126 or summat:p
soooo, expect the first pix sometime next week.
gord:D
Hi Gord,
Sorry didn\'t realise the car landing was quite so imminent, if you didn\'t receive it today you will receive it in the morning, a letter from the club written by myself to claim the historical interest of the car to gain a reduction for you.
Hopefully you can get a refund on production of this letter
that\'s great, thanks for helping clive.
Regards,
Gord:D