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TaxRobin
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Category: Tax
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Experience:  International tax
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I wish to buy a uk reg truck reg no X 144 BOD and reinport

Customer Question

I wish to buy a uk reg truck reg no X 144 BOD and reinport to uk will I have to pay vat on price paid
Submitted: 2 years ago.
Category: Tax
Expert:  TaxRobin replied 2 years ago.
Hello and thank you for allowing me to assist you.
You usually need to pay VAT if you import a vehicle from within the EU. You usually pay VAT and duty through customs when you import any vehicle from outside the EU.
You must pay VAT and duty through customs when you import a vehicle, unless you’re:
moving to the UK
importing a previously exported vehicle
importing a vehicle registered to a non-EU resident
You say the vehicle was registered in the UK. You don’t pay VAT or duty on a vehicle imported from outside the EU if it was previously exported out of the EU. This is known as ‘returned goods relief’. To qualify you must meet all of these conditions:
you exported the vehicle outside the EU within the last 3 years
the taxes were paid on the vehicle in the EU and not refunded when it was exported
the vehicle hasn’t been altered outside the EU, other than necessary running repairs
You must have been the person that exported it though in the first place.
In short, No VAT is payable by the owner in Jersey was bringing it to the UK themselves if:
the vehicle has been owned for at least 6 months
the owner has lived in Jersey for at least 1 year
the vehicle is not sold for at least 1 year after export to UK
If the vehicle is sold, VAT at 17.5% is payable on the proceeds of the sale (the new registration document having been stamped to indicate this).
Unfortunately, VAT will be due on this vehicle.
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 13598
Experience: International tax
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Customer: replied 2 years ago.

Thanks very much, the vehicle was withdrawn by the seller in Jersey straight away with no trouble and I escaped .Happy new year


 


 


 

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