Import 2005 Mustang GT from USA.
Discussion
Can anyone please help or advise on importing a 2005 Mustang GT from USA to UK.
The car is a 2005 Mustang GT convertible which has been owned from new by my father in law who is in Louisiana, USA. It’s a 6th car and has only done 25k miles from new.
My father in law is originally a Brit and holds dual UK/US nationality and is looking to spend 3-6 months in the UK in the coming years.
Given the Mustang hasn’t turned a wheel since we last visited 2 years ago (due to Covid!!!) he is looking to export the Mustang from USA to Uk and store it at my wife and my property, which is where he will be staying when in the Uk.
Shipping seems relatively straight forward from one of the specialist co’s, bit can anyone advise if/what import duty (and VAT) would be due in this situation because I cannot find any information on this scenario or similar. There’s lots about buying a car (which we aren’t doing) and also about importing a car when permanently relocating back to UK, which he isnt doing either.?.?.?
Everything I read on duty is based on sale price but he isn’t selling it, and wouldn’t consider doing so.
The car is a 2005 Mustang GT convertible which has been owned from new by my father in law who is in Louisiana, USA. It’s a 6th car and has only done 25k miles from new.
My father in law is originally a Brit and holds dual UK/US nationality and is looking to spend 3-6 months in the UK in the coming years.
Given the Mustang hasn’t turned a wheel since we last visited 2 years ago (due to Covid!!!) he is looking to export the Mustang from USA to Uk and store it at my wife and my property, which is where he will be staying when in the Uk.
Shipping seems relatively straight forward from one of the specialist co’s, bit can anyone advise if/what import duty (and VAT) would be due in this situation because I cannot find any information on this scenario or similar. There’s lots about buying a car (which we aren’t doing) and also about importing a car when permanently relocating back to UK, which he isnt doing either.?.?.?
Everything I read on duty is based on sale price but he isn’t selling it, and wouldn’t consider doing so.
As I understand it, you will need to pay 20% VAT and customs duty of 10% unless you have owned the car for more than 6 months (and can prove it) and if you are intending keeping it for your own use for at least a year after entering the country. These days you also need to show that you have lived in the US for those 6 months too and the car has been driven, licenced and insured during that time.
In your scenario, your FIL would fall fould of not being in the country for at least a year after.
In your situation, I believe HMRC will assess the value of the car had you bought it:
https://www.gov.uk/guidance/how-to-value-your-impo...
In your scenario, your FIL would fall fould of not being in the country for at least a year after.
In your situation, I believe HMRC will assess the value of the car had you bought it:
https://www.gov.uk/guidance/how-to-value-your-impo...
Thanks - thats helpful, albeit slightly annoying and fairly costly...
I wonder if its easier for us to buy the car off him, not for £1 but a reasonable and justifiable value so at least that can be used to determine import duty.
At least we'll get to use it when he's not in the UK too.
I wonder if its easier for us to buy the car off him, not for £1 but a reasonable and justifiable value so at least that can be used to determine import duty.
At least we'll get to use it when he's not in the UK too.
I brought my old pick-up back from the US last year so went through some of the paperwork.
I had owned it for 2 years and no duty was payable but the HMRC letter states "The vehicle must be retained by you the owner, for your own personal use and must not be lent, hired out, given as security...for one year from the date ...without notifying HMRC and paying duty and VAT.."
It is now UK registered but the V5 includes that it is customs protected until xx/xx/2021. Also note you have to send the DVLA the USA title which you don't get back.
If he sells it to you for a nominal fee be careful as if they ask to see the insurance valuation for shipping you have a problem. In my case I was returning back to the UK so just included the vehicle when I made the declaration of all my other household stuff (which travelled separately).
It really depends on whether he wants the vehicle on a temporary (less than 12 month) or permanent export, or is he prepared to sell/give it to you
I had owned it for 2 years and no duty was payable but the HMRC letter states "The vehicle must be retained by you the owner, for your own personal use and must not be lent, hired out, given as security...for one year from the date ...without notifying HMRC and paying duty and VAT.."
It is now UK registered but the V5 includes that it is customs protected until xx/xx/2021. Also note you have to send the DVLA the USA title which you don't get back.
If he sells it to you for a nominal fee be careful as if they ask to see the insurance valuation for shipping you have a problem. In my case I was returning back to the UK so just included the vehicle when I made the declaration of all my other household stuff (which travelled separately).
It really depends on whether he wants the vehicle on a temporary (less than 12 month) or permanent export, or is he prepared to sell/give it to you
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