Ex is it just the mileage threshold that triggers the VAT liability? If the bike is old and has previously been used for a period of time in its home market then does that not make it VAT exempt on import as tax has already been paid
Here's a better link...scroll down a little - 6000kms https://www.gov.uk/importing-vehicles-into-the-uk/paying-vat-and-duty
If you are a vat registered business you should be able to import and register it without having to pay the Vat first. If you are buying from a vat registered trader within the EU then you might have to pay the Vat but as I understand it you can claim it back straight away.
So you pay it, then reclaim it as it's already been paid in another member state. Net result, still only paying it once. I guess it keeps people occupied at least. Of all the dumb ideas!
I would think it's a way of keeping track of imports and exports throughout the EU. Almost certainly this will change in upon Brexit though. You will then most likely be unable to reclaim it.
Yes as a trader you claim the vat back - but you have to charge it when you sell it on. Never heard of being able to claim it back as a buyer from the trader though. Do you have a link to that rule? Bonham's will not release without the vat being paid to them. The link above is clear regarding the 6000kms rule - which is a very strange and confusing one!
I imported an old Guzzi from Italy. No VAT was due but you have to file the NOVA declaration with HMRC to ascertain whether this is the case, before you can apply for registration with HMRC. In my case it was so old (1980) that no COC certification was required. I had the original Italian reg. document which I sent to DVLA for them to issue an age-related no. plate & V5. IIRC the fee for the whole process cost about £80 plus I had to get an MOT test done for the application. I don't recall them asking the mileage, AFAIK VAT is only due on bikes under 6 months old?
I thought the VAT only applied if you bought the vehicle ex VAT, i.e. from a dealer specifically for export and as such they charge you a net price? Either way HMRC told me no VAT was due and I was able to register with DVLA, paying only the registration fee.
If a Vat registered business is buying the bike they can claim the vat back. If you are not a vat registered business or are an individual then you cannot claim it back. The Brexit comment is valid as all the rules are likely to change if the UK leaves and the OPs question is about how the rules are currently as he wants to do some importing.
TBF it may be a measure brought about to combat 'carousel' fraud, where goods are imported (or claimed to be imported) without the VAT paid, declared that it has been paid then sold on with the VAT added and retained by the trader. At least that's what I do!
Ah, you have now dropped the made up comment about a private buyer being able to re claim the vat back from a dealer, which is not the case as far as I am aware None of your Brexit comments have been valid so far - please keep them to the correct thread
As regards the Bonham sale, I'm not entirely sure how that works as there is another party involved, the auctioneers, but auction houses can choose to pay vat on the margin they make or on the hammer price of the goods. If it's on the hammer price then the buyer of the lot can reclaim the Vat.
Don't think I mentioned private buyers in my first post on this thread. Private buyers of anything can never claim vat back.
VAT has to be paid on the margin they make yes. Your other statements are wrong according to the VAT site linked above and the Auctioneer clearly stated the VAT rules before the bidding on these particular bikes - I was there.
Carousel vat fraud was a very common problem a few years back defrauding various governments of millions.
