How man can I import

johnos1984

Just a quick question which most likely has a difficult answer.

As you have to give your PPS number when VRTing an imported classic car I was wondering is there a limit to how many you can import in 12 months or does it have any impact what so ever on your tax status

Grimreaper666

johnos1984 wrote: »

Just a quick question which most likely has a difficult answer.

As you have to give your PPS number when VRTing an imported classic car I was wondering is there a limit to how many you can import in 12 months or does it have any impact what so ever on your tax status

It's all about weeding out guys dealing on the side, import a few and they'll be on you like flies for tax, vat, licences etc. I wouldn't bother if I was you as very little is selling anyway and you really don't need the grief. As usual in this country the small guys get stung for everything but the big guys get away with everything and get bailed if they get into trouble. The same goes for all small businesses from what i'm seeing, there's no point in even trying to do anything as you'll either go broke trying or if you do get anywhere the revenue will just come along and take it all away anyway.

johnos1984

Doesn't help much with a figure though?

I imported a modern Passat last Nov, a Marina in June and most likely something else for July.

Not really dealing.

I just wondered if I kept importing about how many would I need to bring in before I register as a dealer

Grimreaper666

A figure of 10 was mentioned to me somewhere but i'd say it would be more 5 or 6 as revenue always like to give you a false sense of security and then whack!! You start getting estimated and have to prove you kept the cars for your own use. Only last week at a certain property auction everyone who turned up, even just to look, was recorded by revenue and checked to see how come they had or may have had means to buy something. You mightn't think it but they are very active at the moment trying to generate money, everything and anything are fair game.

johnf2020

I was told that anything above 2 per year then they would treat you as a TRADER,but I cannot think where I heard that.

Grimreaper666

So much for the EU, no borders and free trade...............:rolleyes:

johnos1984

So whats the best way to proceed?

Say nothing?

Call and ask......and let them know?

Register as something like a dealer/importer? Does this cost much?

hi5

They don't care if your a dealer or not,or how many cars you import.
They just want to know if you sold the cars for a profit that you declared the tax and filed a return at the end of the year.

When you sell a car,give an invoice to the buyer and keep a copy for yourself.
Keep the purchase invoices also,if there is a profit its taxable.

johnos1984

hi5 wrote: »

They don't care if your a dealer or not,or how many cars you import.
They just want to know if you sold the cars for a profit that you declared the tax and filed a return at the end of the year.

When you sell a car,give an invoice to the buyer and keep a copy for yourself.
Keep the purchase invoices also,if there is a profit its taxable.

That's grand, I made €50 on the Marina when I took everything into account

Justjens

Don't know if it's relevant, but I know some one who works in a bank and they came across an item to do with classic cars and money laundering, anything above €15,000 was the figure mentioned, so just be wary, they do have a fairly good idea of a car's value:eek:

johnos1984

Justjens wrote: »

Don't know if it's relevant, but I know some one who works in a bank and they came across an item to do with classic cars and money laundering, anything above €15,000 was the figure mentioned, so just be wary, they do have a fairly good idea of a car's value:eek:

Anything I ever import is bought for a few hundred and sold to cover my costs. I just do it as a hobby if that sounds right?