Importing M3 from the Middle East

[Strugs]

Back on topic..!!

This idea is virtually dead.. but before I pull the trigger one last time..

Anyone know how HMRC value second hand imports for the purposes of VAT? I would imagine it's not based on what one pays for car (£50 M3 anyone?? )?

They do accept your purchase invoice BUT if you are going to take the p1ss, you better have money transfer paperwork and proof of the advert. Some scurrilous sorts post up snide ads for this very reason, so I have heard........

The revenue are not stupid and have access to all sorts of interesting data, so best to not be too greedy

[Z3I]

Back on topic..!!

This idea is virtually dead.. but before I pull the trigger one last time..

Anyone know how HMRC value second hand imports for the purposes of VAT? I would imagine it's not based on what one pays for car (£50 M3 anyone?? )?

HMRC has the option to either accept your valuation of the cost of an item you are importing, or apply their own. If they suspect you are falsifying the value, they have the right of law to either ignore it, fine you, or even confiscate the goods. They have more rights to make your life difficult than you've had hot dinners.

Few years back a colleague of mine tried importing a camera from Hong kong, that he got a lower receipt for than it cost, by a sizable amount. He declared it with the lower receipt at Heathrow. The customs officer looked at, went off, came back and asked him what he actually paid for it. My mate insisted the what he paid was on the receipt, and they ended up confiscating it, plus a good fine on top, with the threat of informing BA next time, as he was on duty travel. They know too much, and they always win if they want to.

Anyway, get yourself a cheap return on Emirates or BA and amuse yourself looking at it, plus all the other nightime exotica on the streets there!

[LondonTom]

Back on topic..!!

This idea is virtually dead.. but before I pull the trigger one last time..

Anyone know how HMRC value second hand imports for the purposes of VAT? I would imagine it's not based on what one pays for car (£50 M3 anyone?? )?

It will depend on the age of the car and if it is to be used or retained in a private collection. If a car is over 30 years old you do not have to pay VAT if it meets the above criteria, however an import duty of 10% from memory is still applicable.

Strugs, pm me if you need some help with the shipping.

[Gert_8]

this is dead in the water. Let it go people!

[LondonTom]

this is dead in the water. Let it go people!

Most e30's are

[Strugs]

Thanks for your responses folks!

This is gasping it's last, but I have emailed HMRC for a definitive (yeah, right..) answer reference the VAT..

In other news, BM came back to me to say the car was delivered new to Japan and have no info other than that.. so, history between 1987 and 2009ish is non-existent..

Anyone got a defibrillator..?

[Strugs]

So he's sold it (not to me) for around £28k apparently..

Should I tell him now that I discovered it was a so-called 'Evo 1'?

[Topblag]

I've always fancied importing two solid shells in a container from South Africa. The problem is that the flights are expensive and that, with few exceptions, there are not many people in the export business there you can trust. To make things go smoothly, you have to make it worth their while. ....

Add in import duty and it becomes an expensive business, even with 18 Rand to the £.

[rh306]

I've always fancied importing two solid shells in a container from South Africa. The problem is that the flights are expensive and that, with few exceptions, there are not many people in the export business there you can trust. To make things go smoothly, you have to make it worth their while. ....

Add in import duty and it becomes an expensive business, even with 18 Rand to the £.

I'd be tempted to bring some esoteric Glas metal in, these look cheap

http://www.junkmail.co.za/motoring/clas ... rettyPhoto

[bab-91]

I've always fancied importing two solid shells in a container from South Africa. The problem is that the flights are expensive and that, with few exceptions, there are not many people in the export business there you can trust. To make things go smoothly, you have to make it worth their while. ....

Add in import duty and it becomes an expensive business, even with 18 Rand to the £.

I'd be tempted to bring some esoteric Glas metal in, these look cheap

http://www.junkmail.co.za/motoring/clas ... rettyPhoto

Yes please!


What about some Borgward tin?

[rh306]

I've always fancied importing two solid shells in a container from South Africa. The problem is that the flights are expensive and that, with few exceptions, there are not many people in the export business there you can trust. To make things go smoothly, you have to make it worth their while. ....

Add in import duty and it becomes an expensive business, even with 18 Rand to the £.

I'd be tempted to bring some esoteric Glas metal in, these look cheap

http://www.junkmail.co.za/motoring/clas ... rettyPhoto

Yes please!


What about some Borgward tin?

sounds good Imagine the respect you'd get from the stancecox rocking up to gaydon in one of these..

[bab-91]

They would give it passing glance, savages.

[e21Jason]

Hi

Only a few M3 over here and most are jap imports, for some reason they all lose there service history, here the import car lot serves the whole mena region and we are talking 10 of thousands of cars, and not one arrives with its service book.

shipping race cars to and from the uk is usually about 2k each way, and yes there is VAT on the price you pay to import it. Unless you can get a letter from BMW stating the car was built and assembled in the EU. A guy I know ships cars back to the UK to sell this way and pays for the above letter but its cheaper than tax.

As for driving it, there is a ferry from sharjah to iran, drive through iran then into turkey.

J