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customs advice please!

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holwuff:
i presume plenty of you have bought bikes from the states before?

im thinking of buying a f&f from across the big pond, the frames cheap enough but how much am i likely to get stung once it hits the uk?
ive looked it up and it seems customs tax is an average of 5 to 9% but could be anything up to 85%  :crazy2:
and vat is 17.5%

is this based on the dollar or the pound? what have you guys actually been charged for stuff?
it could be a deal killler! :Great_Britain:

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