Importing NEW bike

fleet

Hi folks,

I've ordered a new bike from a Northern Irish company.
I'll be bringing it down south.

They want to charge UK VAT.

1. How easy is it to reclaim this (or should I insist on ex VAT).
2. They asked should they register the bike up north, is this a good idea?
3. Any other pitfalls?

jameshayes

Lucky man!!! What ya buy?

1. I've no idea... but be better if you can pay ex vat...
2. I wouldn't register it up there because it will always show as an import then...
3. Enjoy the drive down!!!

fleet

Hyosung GV250 (no giving out!, it's the nicest 250cc cruiser still made!)

I've no problem paying VRT, Irish VAT etc.

Just want to avoid as much hassle as possible when I bring it down :-)

furerer

if you do not register up north, how will you bring the bike down without a reg plate, unless it is being delivered, or you are collecting with trailer.

if you register up north make sure your insurance will cover uk reg, I've noticed some companies will not insure uk reg vehicles.

vat refunds.....I believe you will need to fill out a uk form to recoup, but the shop you purchased from will tell you all you need to know........I'm sure they have done this many times before.

why did you buy up north? with the euro so low against the pound, plus vrt, plus tax for uk, if driving home!...I do not believe the bike will be allowed out of the shop without road tax.....but I may be wrong.

Reason for replying to you is that I am currently looking for a bike, I know what I am looking for, and, yes, there is more choice in the uk. The only turn off is paying vrt, and the extra euro cost for sterling, plus ferry charges if mainland uk.

I would prefer to buy here, and the prices on s/h bikes is quite favourable, but the choice is limited, sorry to say, and we all know the conditions of roads here,........the ol' suspension gets used well.

So there ye go.....if any of my rantings above have been of any use to you.......good. Safe riding, and enjoy the summer.......be cooool!

ArphaRima

I looked at this before with a car. You can buy cars for export.

I discussed it with a dealer before. You buy it ex-vat then just import it to your country of choice paying all the applicable duties and taxes. Using a bike delivery company should get over the whole road tax/insurance issue.

I didnt end up doing it so dont have any more details I'm afraid, I just know it is possible.

Del2005

fleet wrote: »

Hi folks,

I've ordered a new bike from a Northern Irish company.
I'll be bringing it down south.

They want to charge UK VAT.

1. How easy is it to reclaim this (or should I insist on ex VAT).
2. They asked should they register the bike up north, is this a good idea?

Don't pay UK VAT, down load the VAT 411 form and give it to the dealer. Don't register it up North get it delivered/collected by van/trailer and go straight to your nearest VRT office and register it here.

3. Any other pitfalls?

Are you sure it's cheaper up North then down here?
Is the warranty valid in Ireland? Bit of a pain if you have to bring it back up North for any work.

fleet

Importing as even paying VRT I save €1000.

GV250 in Bike World == €5000

Same on SmallBikesNI = £2800 + €500 VRT == €4000 approx.


Cool, I'll give the guys a call tomorrow and tell them not to register it.

I have a trailer to take it home.

pa990

fleet wrote: »

Importing as even paying VRT I save 1000.

GV250 in Bike World == 5000

Same on SmallBikesNI = £2800 + 500 VRT == 4000 approx.


Cool, I'll give the guys a call tomorrow and tell them not to register it.

I have a trailer to take it home.

Don't forget that you'll have to pay vat as well

2800+vat @21% + vrt = ?

Is that 2800 sterling or euro ?
By the time u convert sterling to euro.. Will it be worth your while.

I wonder would bikeworld give u a discount for paying cash ?

I reckon you might only be saving 500euro.. And the hastle of going north etc

fleet

My bad, figures and savings are correct though.

£2,800 + 21% == £3388 == €3,900
+ €500 VRT == €4,400 total

But I've had the sterling in cash for a few weeks, so have avoided the Euro's current weakness thus my saving is closer the full 1k.

Still a big saving still though, €600 is a weeks gross income for me.

pa990

you're adding sterling and euro.

To get a true picture, convert your sterling to euro.. Then do your math.

fleet

pa990 wrote: »

you're adding sterling and euro.

To get a true picture, convert your sterling to euro.. Then do your math.

Where?

Percentages are percentages.

pa990

fleet wrote: »

£2,800 + 21% == £3388 == 3,900
+ 500 VRT == 4,400 total

.

3900 pounds + 500euro

pa990

i don't mean to rain on your parade.. But i think you have fudged the figures..
Don't get me wrong though.. If i thought bigg saving were to be made.. I'd be straight up north to buy new

fleet

Gonna try make this simple (for myself as much as anyone else).

Bike in Bikeworld = €5,000 incl Irish VAT, VRT paid.
Bike in SmallBikesNI = £2,800 ex VAT, ex VRT.

Hand SBNI £2,800 == €3,222 say €3,300 after bank fees.

Bring bike down south.

Pay VAT at 21%
€3,300 x 1.21 == €3993

Add VRT at €500

Total price to be bought from NI == €4,500

That's today's figures with the crap sterling rate.
(I bought the sterling a few weeks ago, my savings are closer to a thousand euro)

That's €500+ saving.

I understand that there are hidden benefits to buying local.
I also understand there are vested interests here, but 500 euro is A LOT.

pa990

afaik.. Customs apply vat at 21% of what they value the vehicle.. Not what was actually paid for it.
I'd phone customs, and clarify everything with then first.

Best of luck and enjoy your new bike

fleet

pa990 wrote: »

afaik.. Customs apply vat at 21% of what they value the vehicle.. Not what was actually paid for it.
I'd phone customs, and clarify everything with then first.

Best of luck and enjoy your new bike

Cheers dude.

I should be OK. £2,800ex is the full list price as seen on hyosung.co.uk

But sure I'll post up my experience here :-)

Pkiernan

I think you will end up saving only about €300.

Irish Customs could chagre you €867 in VAT, as they will base it off the Irish price.

A €5000 bike here is €4133 + VAT.

Customs may try to charge you VAT at 21.5% of €4133, or approx €867.

Then add VRT at €500, then the €3300.

Total €4677.
Add say €50 fuel to drive up and trailer home, and the savings might not be as high as you were hoping.

Best of luck with it, but I would give Customs a ring before buying.

Del2005

fleet wrote: »

Gonna try make this simple (for myself as much as anyone else).

Bike in Bikeworld = €5,000 incl Irish VAT, VRT paid.
Bike in SmallBikesNI = £2,800 ex VAT, ex VRT.

Hand SBNI £2,800 == €3,222 say €3,300 after bank fees.

Bring bike down south.

Pay VAT at 21%
€3,300 x 1.21 == €3993

Add VRT at €500

Total price to be bought from NI == €4,500

That's today's figures with the crap sterling rate.
(I bought the sterling a few weeks ago, my savings are closer to a thousand euro)

That's €500+ saving.

I have to agree with the others, that the VAT will be on an Irish price not the price you paid. And from reading the Motors Forum the price they use could be higher then the price you can buy it for.

Have you asked Bikeworld what type of deal they'll do for a straight cash price?

Have you verified that the warranty is valid in the Republic of Ireland and not just in the UK. You could loose your savings fairly quickly if you have to trailer the bike back up North for warranty work?

I understand that there are hidden benefits to buying local.
I also understand there are vested interests here, but 500 euro is A LOT.

I don't think there are vested interests here. All we're trying to do is save you possibly making a costly mistake. You need to do more research before making your purchase. All it will take for you to find out is one phone call and then you'll know how much the VAT will cost.

It would be a shame for you to end up paying more for the bike then you could buy it here and also possibly end up with an essentially worthless warranty.

ArphaRima

I also understand there are vested interests here

I dont think you'll find many vested interests here. If there were the rest of us would shout them down.
Almost everyone here is just and owner or enthusiast trying to help you.

No need to heed their advice. But do consider it.

Wossack

VAT is calculated on the invoice cost - completely unrelated to Irish prices

dunno where people are getting that from

Wossack

I did this over 2 year ago, and iirc, the formula worked out like this:

( "Invoice cost of bike" + VRT ) + VAT% = final price

Try and get the bike for export, as the VAT is worked on the invoice price. If the invoice has the UK VAT on it, you'll be paying +21% of that too... even if you recover the UK VAT down the line, that +21% of the UKVAT will be lost in a beaucratic blackhole...

Also worth noting, that the irish VAT is calculated on the cost of the invoice + the VRT...

fleet

Thanks for all the input guys.

I've paid a deposit on it anyway.

Gonna post up all the final figures and let you guys know whether it was worth importing.

pa990

excellent stuff.
When do you expect to collect it, and have it on the road

fleet

Lead time is expected to be 2 weeks from order.

I MAY have it by Saturday.

Bike World quoted 6 weeks.

We'll see who's closer to the mark!