Following Brexit, it is becoming more expensive to import classic cars and aircraft from the European Union. Importing them from outside of the EU has always been subject to VAT.
For older classics did you know that you can get a reduced VAT rate of 5% and no import duty, once you can find the appropriate claim mechanism? The problem is it’s hidden away and there are also some conditions that need to be followed.
The reduced rate includes collectors’ motor vehicles and aircraft of historical or ethnographic interest which are:
- in their original state, without substantial changes to the chassis, engine, wings etc.
- in case of motor vehicles at least thirty years old, in case of aircraft at least fifty years old;
- a model which is no longer in production.
This heading also includes, as collectors’ items:
- motor vehicles and aircraft, irrespective of their date of manufacture, which can be proved to have been used in the course of an historic event.
- motor racing vehicles and racing aircraft which can be proved to have been designed, built and used solely for competition and which have achieved significant sporting success at prestigious national or international events.
Parts and accessories for motor vehicles and aircraft are also included, provided that they are original parts or accessories, that they are at least thirty years old (for motor vehicles), or at least fifty years old (for aircraft), and that they are no longer in production.
Replicas and reproductions are excluded, unless they fulfil the above three criteria.
Needless to say we’ve done a number of claims, so if you need some help please contact your nearest Hawsons office:
Sheffield: 01142667141
Doncaster: 01302367262
Northampton: 01604645600
Alternatively, you can contact us by filling in our contact form below.
