J
JakeB
Guest
Hi folks
Can anyone help me confirm if my circumstances allow me to bypass VRT?
I am an Irish citizen and have been living, working and paying tax in the UK for 15 months and intend to return home to Ireland in 12 months with a UK purchased car.
I have receipts for UK tax, mortgage documentation, wage slips etc and am genuinely moving home permanently with my partner.
If hypothetically I bought, taxed and insured an expensive used car in the UK 6 months before i return and then tax and insure it for 12 months in ireland, can i sell it without incurring VRT & VAT? Are there any other major costs involved or hidden obstacles?
For example, say if I splashed out on a used 2006 Porsche Cayman for GBP30k in the UK and I sell it 18 months later (6 mths in UK and 12 mths in Ireland) in Ireland for say €60-70k euro. Is this a case where I can legally avoid VRT as a one off and make a handsome profit? If so, whats to stop my partner (same circumstances apply to my partner except she's French) and I "investing" in two expensive cars before we return to take advantage of a one off situation?
thanks in advance
Jake
Can anyone help me confirm if my circumstances allow me to bypass VRT?
I am an Irish citizen and have been living, working and paying tax in the UK for 15 months and intend to return home to Ireland in 12 months with a UK purchased car.
I have receipts for UK tax, mortgage documentation, wage slips etc and am genuinely moving home permanently with my partner.
If hypothetically I bought, taxed and insured an expensive used car in the UK 6 months before i return and then tax and insure it for 12 months in ireland, can i sell it without incurring VRT & VAT? Are there any other major costs involved or hidden obstacles?
For example, say if I splashed out on a used 2006 Porsche Cayman for GBP30k in the UK and I sell it 18 months later (6 mths in UK and 12 mths in Ireland) in Ireland for say €60-70k euro. Is this a case where I can legally avoid VRT as a one off and make a handsome profit? If so, whats to stop my partner (same circumstances apply to my partner except she's French) and I "investing" in two expensive cars before we return to take advantage of a one off situation?
thanks in advance
Jake