Hey, hi! I'm a newbie, I joined hoping to get some advice.
I'm looking at importing a bike from Germany. Not to ride home, I understand that's complicated. I will be trailering it.
I have understood that HMRC will advise on the tax amounts to be paid based on the value of the bike +20% VAT when you apply.for the NOVA.
My question is, how do HMRC decide what the value of the bike is, for example if it's from a dealer then is it then the purchase invoice? However how is that impacted if I buy from a private seller? How do I prove what I paid for the bike, are they accepting a hand written 'receipt' or bill of sale type from the private seller?
Any advice around this is appreciated.