Ashley0297
New Member
Total price for a £5500 hammer price. From DVLA Auction site
Hammer Price:£5,500.00
VAT on Hammer Price @ 20%:£1,100.00
Buyer's Premium @ 8%:£440.00
VAT on Buyer's Premium @ 20%:£88.00
Total VAT @ 20%:£1,188.00
Assignment Fee (not VATable):£80.00
Total Amount Payable:
£7,208.00
You are correct that’s what the person who bought it would have paid