This has been covered in the past, but I can't find the old topic!
It roughly boils down to:
1) VAT gets applied in the UK
2) Import duties - gets applied to everything over approx £15 value regardless of how you bought it
3) UK distributors having to cover their costs - this can be advertising, sponsoring drivers, paying 1 & 2, replacing faulty/missing items, etc, etc
4) shipping costs
plus probably other costs too
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