Motorbike valuation for a carnet in the UK
I'm looking for up-to-date advice on this as I'm soon to apply for a carnet that will include Egypt, so the bike's valuation on the carnet form is a key factor in total cost.
I'm looking at it this way:
- The 800% duty is on the value of the bike if it was sold in Egypt, which probably bears little resemblance to what I paid for it secondhand here in the UK.
- Here in the UK the bike is a 4-year-old Grey-import, so it's difficult to find a UK book price.
- If bikes on sale in Egypt attract 800% duty, the pre-tax market values are probably lower than other countries in order to compensate a little and make them affordable.
- The price I paid here in UK, secondhand, reflects to a certain extent that the original selling price includes all the UK taxes of vat and car tax, which makes it more unrepresentative of its pre-tax value in Egypt.
- So there's probably scope for some legitimate creativity in valuing the bike for the carnet.
- On older posts, I've seen suggestions of maybe half of the current UK general selling price, or even less.
Any comments would be appreciated on my logic above.
And a simpler question I hope:
What happens if your bike is stolen or irrecoverably damaged in an African country? How do you extract yourself from the import-duty requirement (when leaving the country without the bike) to discharge the carnet? I assume there's some fraught procedure with the police and endless other authorities. Anyone any information or experience of this?
Thanks to all in advance.