Private Plate news
These are the extra costs of plates bought at public auction.
This is public information and available at the DVLA website
http://www.dvlaauction.co.uk/index.php/live-auction/what-will-it-cost/
What Will It Cost?
The sale price (also called the ‘Hammer Price’) is subject to VAT, the Auctioneer’s Buyer’s Premium of 8%Â (minimum £40 + VAT) together with the £80 Assignment Fee.
This can mount up! So be aware and use their calculator provided.
Example below, based on £10,000.00.
Hammer Price: £10,000.00
VAT on Hammer Price @ 20%: £2,000.00
Buyer’s Premium @ 8%: £800.00
VAT on Buyer’s Premium @ 20%: £160.00
Total VAT @ 20%: £2,160.00
Assignment Fee (not VATable): £80.00
Total Amount Payable: £13,040.00
The reverse is, you have a budget of £10,000.00
Maximum Budget: £10000.00
VAT on Hammer Price @ 20%: £1532.00
Buyer’s Premium @ 8%: £612.80
VAT on Buyer’s Premium @ 20%: £122.56
Total VAT @ 20%: £1,654.56
Assignment Fee (not VATable): £80.00
Total Additional Costs £2,347.36
Maximum Hammer Price: £7,660.00
Curtesy of the calculator.
Well done DVLA
We’ll keep you posted on future auctions or why not attend yourself?
I’ve bought myself and it is great fun, be aware of the final amount to pay is different to the hammer price and we’ve published these costs below.
DVLA and BCA keep up the good work, raising money for the UK.
CVPP.CO.UK would also like to say a job well done!
From the DVLA website!
Have a great day!!!
