I did the VRT based on 221 emissions ( there is a 227 listed as well ) the statistical code is 41685264 and the customs will require around 4296 euro. There does seem to be some nice extras though which could cost more VRT
At first glance it looks worth investigating.. If it was a bank executive it must have been a private vehicle, I don't think they would keep a 7 year old company vehicle in the fleet... although recent revelations suggest anything is possible but it may be just sales patter.
If you end up paying close to 10K all in and it is a genuine car with full BMW history (from the North) and no crashes then it woud be only ok, not a super bargain or anything.
If you were able to get it for 4 sterling cash and a bit less on the VRT it would start to look better. E39 highly thought of in motoring press, never had one but did love my E34 (previous 5 series)