I like that way import taxes are calculated in the UK. You pay the import duty on the goods value then you pay VAT on the duty and goods value.

eg. I'm importing a 2002 Chevy Impala at the moment:
Value: $7,000.00 (it's done a lot of miles!)
Duty: $700.00 (10% of above)
VAT: $1347.50 (17.5% of above two)
Total payable: $2,047.5 = £1,118.85

Actually, forgot that you also have to add the shipping ($820) into the "value" too. Then it needs an SVA inspection (severe inspection of the vehicle's construction - £160) plus registration (£25) if it passes (hope if it will - it's probably never been imported into the UK yet!)

Gareth