Re: taxes

[Jim Gillespie <jim@xxxxxxxxxxxxx>]

Philip Guy writes:
 > 
 > Sorry Jim if my last analysis was depressing, but I find it difficult
 > to be upbeat about Taxes unless it were possible to make a real
 > financial killing.

    Heck, me too!

 > To follow on from my last post which was relating to importing New
 > Bikes to the UK from a non EC country (specifically the USA).  I
 > understand the rules to be that if you import a new bike from an EC
 > country then there would be no UK duty to pay except any which is
 > applicable in the country of EC registration that you bought your
 > bike, so it would be wise to find out the duty inclusive price when
 > negotiating.  Thereafter you would only have to pay the VAT in the
 > UK.

    I remember hearing (a couple of years ago, so the tax man has
probably caught up) that within the EC you could effectively choose to
either pay VAT at the point of sale, or in your home country.

 > However, HM Customs and Excise say that many foreign dealers are
 > having problems making VAT exempt for export sales,

    "Having difficulties" eh? :-(

 > so what is happening more frequently is that you would have to pay
 > the VAT in the country of registration at whatever their rates
 > applicable and then again in the UK at 17.5 per cent.  Once you have
 > proof of importation (exportation) you can go through the fun process
 > of reclaiming the VAT from the country of registration.

    Gosh, that does sound like fun :-(

 > You would again need to work out the cost effectiveness verses the
 > fun and hassles.

    There are probably bigger savings to be had buying cars, because
they cost more in the first place.

    Coincidentally, I have just this *second* received email from a
friend who mentioned in passing that he's just saved a bundle (didn't
say exactly how much) by buying a car in Amsterdam.  I could ask for
details if anyone's interested, but we should probably take it off the
list at this point...

                Jim
- -- 
       jim@       ,'_            I could almost visualise the 12 foot
  gillespie.org  / -.--.    ___  long crankshaft thrashing around like a
                _\_  ~-.`--'_.-' crazed conger eel in a bath of treacle.
               / /\\    \--'_ \\ 
 '99 Sprint ST \__/ `---'  \__/                         -- Neil Ronketti


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