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Showing content with the highest reputation on 07/19/22 in Posts

  1. 1 point
    Hi guys, Interesting topic.I think this business model is a minefield.With varying rates of duty charged on both the purchase and freight invoice price and with VAT charged on top,you must need huge mark ups to make it work.When you factor in waiting times for shipping, type approval and registration at DVLA .DVLA alone can take months and your import will probably get highly taxed as private light goods under the new regs which can confuse punters. Another consideration regarding VAT is that HMRC inspectors are allowed to interpret their own rules any way they want and challenging them is not easy.Those of us who traded in the 90’s will recall that many dealers did well with Jap imports while following what they thought were the correct import rules.Unfortunately many of them were subsequently destroyed by HMRC at a later date. You can make enquiries with HMRC but they are unlikely to help and they might refer you to your accountant or your agent as they call them. So not much help but best of luck,there must be easier ways to sell cars.