I asked this on another forum I peruse and no-one is quite sure of the answer. Hopefully someone here knows. Could you make a decent living, if you drove around Europe buying/towing and then registering vehicles into the UK? Obviously not talking about Vignale Ferrari's etc, but what about old Fiat 500/600/Multipla's and Vespa's/Lambretta's etc? One thing that's clear, cars over 10 years miss the SVA test. I'm hoping that someone here and can answer me these questions. Thanks.
Most motor traders are struggling to make money at the moment and for sure the Euro rate would work against you To take your example if you bought a 355 in Europe you would pay about EUR 55000 which is about UK£ 45000 Its resale value in the UK would be £ 35000..... Similar applies to 60's Pagoda Mercedes SL280 for example
Only makes sense from the US right now. If you look hard you can find previously registered European vehicles over there in which case I think no duty is due.
Okay, this is how it works in the UK. Brand New Cars that are brought in from Europe are subject to 10% Import Duty and 17.5% VAT on the Purchase Price. You will need a type approval certificate also from the relevant manufacturer in the UK. This is a chargeable service. Cars under 10yrs from Europe are not subject to VAT or Import Duty, but require and MOT (when over 3yrs old) but require a type approval certificate. Cars from Switzerland are ALWAYS subject to 17.5% VAT regardless of age. Only exception is cars previously registered in the EU. Ditto type approval where relevant. MOT as normal in the UK (unless its under 3yrs old). Cars over 10yrs from Europe. No import duty. MOT as normal in the UK. Cars imported outside the EU under 10yrs are subject to Import Duty of 10% and 17.5% VAT on the Purchase Price, plus an SVA test. MOT as normal in the UK. Cars imported outside the EU under 10yrs are subject to Import Duty of 10% and 17.5% VAT, but no SVA test. MOT as normal in the UK. Of course all imported cars needs to be registered on UK plates which is about £130ish.
Sorry, also forgot to mention no money in importing old 500/600's or Multipla's into the UK, Europe has wised up to the value of these cars.
Sorry, made a slight error on the 2nd from last paragraph, it should read Cars imported outside the EU OVER 10yrs are subject to Import Duty of 10% and 17.5% VAT, but no SVA test. MOT as normal in the UK.
