FERMANAGH motorists have not faced the feared post-Brexit car price hikes. However, with customers from the south still being hit with some of the charges, its not all good news for local businesses.
There had been fears that, as a result of the Protocol and post-Brexit EU VAT rules, any cars being imported from Britain to the North would face a 20 percent increase in their price. Michael Gove MP recently confirmed the UK government was reinstating the VAT margin scheme for cars imported and resold by dealers in the North. This means dealers here will now pay VAT based on the profit earned on the sale of the car, rather than the car’s entire value, keeping the ticket price down.
“A lot of people in Fermanagh buy cars sourced through Britain either privately or through car dealerships,” said local MLA Sean Lynch. “This is very welcome news as the additional 20 percent had the potential to cripple many businesses locally. And it could have resulted in the loss of jobs and would have resulted in hard pressed motorists having to pay extra money for cars.”
However, while Fermanagh customers will no longer be facing a hike in the cost of a used car, customers in the South are still facing some increased charges or bureaucracy.
With many local dealers here getting a lot of trade from the South, there have been urgent calls for Revenue Commissioners in Dublin to address the situation.
To read more on this story see this week’s Fermanagh Herald. Can’t get to the shop to collect your copy? No problem! You can download a copy straight to your device by following this link https://bit.ly/3gOl8G0
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