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Title: Post Brexit classic car import tax Post by: Parisien on 02 December, 2020, 08:19:37 PM A snippet in S Times stating a possible 30% hike in cost of importing a classic car from the EU, made up of 20%VAT and 10% duty.
Likelihood of this being case, if so a very worrying development for enthusiasts! P Title: Re: Post Brexit classic car import tax Post by: peteracs on 02 December, 2020, 11:11:37 PM I am guessing it may the same/similar going the other way?
Peter Title: Re: Post Brexit classic car import tax Post by: mikeC on 03 December, 2020, 10:43:27 AM I don't see why importing from the EU should be any different to importing from the USA, for example. If it qualifies as a classic, then there is no duty, and VAT is 5%.
Title: Re: Post Brexit classic car import tax Post by: Mikenoangelo on 03 December, 2020, 04:48:20 PM I'm sure you are correct Mike. The 5% VAT on imports from outside the EU applied in 1992 when I bought a car in bits from the US. I declared the bodywork which came separately as being new which it was, and paid VAT on that. A historic car is by definition a second hand used car on which no VAT is payable when bought within the UK, the presumption being that VAT has been paid once and the cost swallowed by the first owner. Clearly the treasury will do what it wants but it would be a significant change from current policy.
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