Should we buy in UK on a 1 year Work Contract?

Masala

Hi

My son might be going to UK on a 1 x Year Contract (Minimum). A few questions for Boardsies out there:

1. How longs must he own a car in UK before he can bring home without incurring any import taxes, customs fees and VRT ?
2. Does he need to show Insurance on same while overseas?? eg.. can he park it up for a few months if he has no need for same.
3. On return to Ireland - how long has he to hold on to it before he allowed to sell it on??
4. On selling on ... will he have any problems from VRT people etc???

Might be a good opportunity to get a 2nd car into the family at a a good price and spec.

Thanks

marco_polo

In a nutshell he needs to be there for a minimum of 12 months and must hold onto the car for at least 12 month upon his return. You can also only claim this relief once every 5 years.

http://www.revenue.ie/en/tax/vrt/leaflets/tax-relief-transfer-residence.html

edit: It also seems to suggest it would need to be fully taxed and insured for its whole time in the UK

colm_mcm

Vrt on the majority of stuff being imported from the UK is quite small anyway, so unless it's something quite valuable/high vrt, then I can't see it being that attractive to do that much legwork and adhere to the conditions of the exemption.

Masala

Many thanks lads....appreciated