Depends. If the seller was honest and put the value on the customs ticket, then you should only pay 17.5 percent VAT, plus import duty of around a tenner. so around £35.
The trouble that we have is that when somebody puts 'gift' with no value, as well meaning as that is, customs bods get suspicious. When a customs person looks at the parcel, they take a reference price and charge VAT at that level so although you bought the hub for $22, it probably didn't say that on the parcel so customs 'guessed' its value as £45, hence the £8 VAT.
I had a similar problem with some Tange Switchblades, paid £60, seller did me a favour by putting 'gift', but customs pulled them and charged me VAT based on their reference value which for "Forks - ATB" is £300! Landing me with a VAT bill for nearly £35.
You can get a refund as long as you have written proof of what you paid and customs do accept e-bay prints and paypal information, but you do need to pay the VAT up front and then fight your corner.
Lesson here is that actually, putting 'gift' isn't the best thing to do as if customs use their reference values, they are often way out of touch.