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VRT Rebate

  • 06-09-2013 6:56pm
    #1
    PrettyBoy
    Registered Users, Registered Users 2 Posts: 4,213 ✭✭✭


    Anyone have any experience with this scheme?

    Thinking of buying an Irish registered car that I could make some money (€8k+) on if I were to export it to the UK..I have an idea of what needs to be done and know it will take a bit of time and effort before I see any cheque from the revenue but to those that have done it - was it worth all the hassle and would you do it again?


Comments

  • #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 40,357 Mod ✭✭✭✭Gumbo


    PrettyBoy wrote: »
    Anyone have any experience with this scheme?

    Thinking of buying an Irish registered car that I could make some money (€8k+) on if I were to export it to the UK..I have an idea of what needs to be done and know it will take a bit of time and effort before I see any cheque from the revenue but to those that have done it - was it worth all the hassle and would you do it again?

    First off you need to book an appointment with the NCT to get an export inspection done.
    You then have 30 days to export the car from that date.
    Once you get to the UK you need to resister the car with HMRC and print out the evidence to show that no tax is owed to register the vehicle.
    You then need to contact the car maker to get an EU certificate of conformity to show the vehicle is road legal in the UK. Everything should be fine except for the speedometer, as it needs to be in mph.
    Next step it to get the speedometer converted. There are a number of companies doing this. You can remove the speedometer yourself and send it to them to get the dial face changed. It costs about 200. They will need to supply you with a detailed invoice of the work carried out and how exactly your car now conforms to UK spec. This part cost me a few weeks so make sure they provide you with the right information. If they have done it before a few times it shouldn’t be an issue.

    Once you have that you need to apply to the VCA for a cert show your vehicle qualifies for the Mutual Recognition scheme. To get this you need to send the evidence form the speedo conversion, the certificate of conformity from BMW and 100 pounds. If everything if to their satisfaction this will take a week or two.

    Next step is to get an mot done.

    Once you have all of the above completed you then need to get car insurance on the chassis number of the vehicle in your own name. This took quite a while to sort out. Eventually admiral would insure me but would not allow the car to be driven. They will issue a temp cert for 10 days only so you need to have all your ducks in a row before getting the insurance.

    Then you need to go to a DVLA office and supply them with all of the above information and a form filled out.

    The DVLA will then review all of the information and send out the V5 in a week or two if everything is as required.

    Once the DVLA issue you with a logbook you can then send in a claim for VRT rebate.

    Just make sure there is actually a rebate available for the car as some may have come from the UK in the first place and may have been VRT exempt, so no rebate.

    All in all, it depends on the car you want to sell. Dont forget the km to miles conversion and UK people want impecible, verified and traceable history with their cars. They have too big of a market that if they are not comfortable with a car, they will walk away and buy somewhere else.

    What car you thinking about doing it on?


  • #3
    PrettyBoy
    Registered Users, Registered Users 2 Posts: 4,213 ✭✭✭PrettyBoy


    Thanks for that kceire, think you covered everything!

    The car in question is a BMW M3. I would be buying here with the intention of selling it to the UK, seems like a bit of hassle alright but might be worth it?


  • #4
    TireeTerror
    Registered Users, Registered Users 2 Posts: 2,271 ✭✭✭TireeTerror


    This is exactly what I was thinking of doing. Is there anyway to be sure that whichever car you buy would be entitled to the rebate, before buying it? I would be buying the car purely to get the rebate and sell it on.

    Who does the Revenue send the cheque to, is it the current owner of the car?

    What if a person was from the UK and came here to buy an Irish car, take it back home and then use it for themselves. They wouldnt ever have been an Irish resident with a PPS number, would they still be entitle to the VRT rebate, or would that go to the previous Irish owner who sold it? If that was the case, could the new UK owner temporarily "sell" it to a family member registered in Ireland, and then they export if to them, that way Revenue would give the VRT rebate to the family member, who could then pass it on to them in the UK?


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