I have got my eyes on a bike on ebay, however it is in the US.

Whats the best way to get it to the UK, any one had any experience, can you recomend a method? Any problems I should watch out for?

Cheers, Meth

OK great, how does the tax work, do I pay tax on what I have paid for it or what it is worth when new?

Also what did you pay for postage of a full bike?

You pay the duty based on the value, so what you paid. You then pay VAT on the value+duty price.

Import tax and VAT on Imported bikes and components.

For Frames, forks and parts (that do not constitute whole or nearly complete bike) -

the Commodity code is - 8714911019
Import Duty is 4.7% on purchase price plus Shipping.
VAT is then charged on top. (i.e.) Purchase price + shipping + import duty x 17.5%

For full bikes (or part bikes that  constitute whole or nearly complete bike) -

the Commodity code is - 8712003000
Import Duty is 14% on purchase price plus Shipping.
VAT is then charged on top. (i.e.) Purchase price + shipping + import duty x 17.5%

Maybe this info should be stickied for future reference?