Advertisement
If you have a new account but are having problems posting or verifying your account, please email Niamh on [email protected] for help. Thanks :)
New AMA with a US police officer (he's back!). You can ask your questions here

VRT treatment <30 yrs

  • 07-10-2017 1:32pm
    #1
    Registered Users Posts: 623 ✭✭✭ galvo_clare


    Hi

    Early next year I'll have a garage to put something in. At the moment I quite fancy the idea of a BMW E36 cabriolet - a 328 for preference and definitely manual.
    That might change of course but my question is about the VRT treatment if I brought one in from the UK.
    It won't be 30 years old and I can live with the tax for a few years until it hit that age but how would, say, a 25 year old car be treated regarding VRT?

    TIA


Comments

  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 58,874 CMod ✭✭✭✭ unkel


    VRT is based on the OMSP (market value) of the car. What you actually paid for it in the UK makes no difference. In case of a straight six E36, you'll be paying at the 36% rate

    Is the car on the VRT calculator? If not, you could email the VRT for a quote (but you might never get a reply). Or just risk it and bring it in. Hope they won't value it too highly. To give you an idea, if they reckon it is worth €4k, the VRT will be €1440

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Registered Users Posts: 623 ✭✭✭ galvo_clare


    unkel wrote: »
    VRT is based on the OMSP (market value) of the car. What you actually paid for it in the UK makes no difference. In case of a straight six E36, you'll be paying at the 36% rate

    Is the car on the VRT calculator? If not, you could email the VRT for a quote (but you might never get a reply). Or just risk it and bring it in. Hope they won't value it too highly. To give you an idea, if they reckon it is worth €4k, the VRT will be €1440

    So it's treated exactly like any other car even though it's approaching 30 years.
    It all depends on the value they put on it so. Will do a bit of digging. Thanks.


    [Edit]
    Just checked - a typical value seems to be around the €4K mark. Coupés seem to be around half that.


  • Registered Users Posts: 2,156 ✭✭✭ w124man


    So it's treated exactly like any other car even though it's approaching 30 years.
    It all depends on the value they put on it so. Will do a bit of digging. Thanks.


    [Edit]
    Just checked - a typical value seems to be around the €4K mark. Coupseem to be around half that.


    The only place to go digging is the VRT website. They will tell you the value that will be used to calculate the VRT. You pay but if you think you have been done then you can appeal.


  • Registered Users Posts: 5,796 ✭✭✭ Isambard


    just buy one here, you might have to wait for the right one, but you'll save a packet.


  • Registered Users Posts: 1,778 ✭✭✭ rugbyman


    think i might get my fingers rapped for this but here goes.


  • Advertisement
  • Registered Users Posts: 191 ✭✭ th hen


    are cars over 30 years not 200 euro vrt ??


  • Registered Users Posts: 9,059 ✭✭✭ Kenny Logins


    th hen wrote: »
    are cars over 30 years not 200 euro vrt ??

    Yes, but this car isn't old enough.


  • Registered Users Posts: 14,891 ✭✭✭✭ CJhaughey


    You have 7 days to book and 30 to complete the registration. After the 30 days passes you have to pay 1% of the total VRT amount per day.
    You won't be able to insure it for longer than 30 days anyway as its a requirement for the Insurance company to notify Revenue after that period is up.
    Draconian yes, but thats the way it is.

    Looking at it this way the VRT won't be that high on a car of that age anyway, so 36% of not much is still not much.


  • Moderators, Motoring & Transport Moderators Posts: 2,941 Mod ✭✭✭✭ macplaxton


    CJhaughey wrote: »
    You won't be able to insure it for longer than 30 days anyway as its a requirement for the Insurance company to notify Revenue after that period is up.

    42 days. An insurance company is able to insure an "unregistered" vehicle as long as it likes. However, if it insures an "unregistered" vehicle for more than 42 days, it has to inform the Revenue within 30 days. The Revenue may (or may not) take enforcement action base on the information supplied by the insurer.

    The exact wording is here in the Finance Act 2010, S111: http://www.irishstatutebook.ie/eli/2010/act/5/section/111/enacted/en/html
    CJhaughey wrote: »
    Looking at it this way the VRT won't be that high on a car of that age anyway, so 36% of not much is still not much.

    The minimum OMSP the Revenue uses is €2000. Therefore minimum VRT @36% is €720. This can be in some circumstances be disproportionately high in relation to the true value or actual purchase cost of a vehicle.


  • Moderators, Motoring & Transport Moderators Posts: 2,941 Mod ✭✭✭✭ macplaxton


    For a rag top 328, stat code I used was 40585295

    Use the Revenue VRT calculator: https://www.ros.ie/evrt-enquiry/vrtenquiry.html

    Looking at 34% VRT, so minimum €680. OMSP for a convertible is showing around 4299, which equals €1461 VRT.


    Top-Tips:

    Buy an E28 or E30 convertible over 30 years old instead.
    Wait until an E36 is over 30 years old before importing one.
    Move to the UK to enjoy cheap vehicles.
    Inherit an E36 upon death of UK-based person. (bit tricky that one)

    Any more legal suggestions lads?


  • Advertisement
  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 58,874 CMod ✭✭✭✭ unkel


    E28 and E30 prices have gone up quite a lot over the past few years. But yeah there are lots of benefits of buying a 30+ year old car and bringing it in. Paid the €200 to register my September 1987 W201 yesterday and taxed it today for the €56 for the full year :)
    macplaxton wrote: »
    Looking at 34% VRT

    How do you get 34%? Surely a 328i would be 36%?

    This is for a '93 E36 328i convertible auto:

    Mileage

    100000
    Year of First Registration

    Month of First Registration

    Calculate VRT Cancel
    Clear

    Your VRT Calculation
    Date 10/10/2017
    Time 16:21
    Rate of VRT
    36%
    Vehicle Registration Tax
    (payable on enquiry)
    €1,623
    Vehicle Details
    Statistical Code
    40685295
    Model
    328 I
    Make
    BMW
    Version
    I E36 02DR A
    Breakdown of VRT Calculation
    Open Market Selling Price (OMSP) determined by Revenue
    €50114
    Monthly Adjustment
    N/A
    Depreciation Code Allocated by Revenue
    A5
    Odometer Reading
    100000 Miles
    Date of First Registration
    January 1993
    Mileage/Kilometre Reduction
    €0
    Rate of Depreciation for this Vehicle
    91%
    Current OMSP determined by Revenue
    €4510
    Revenue CO2 Calculation
    CO2 Emissions
    248
    Rate of VRT
    36%
    Vehicle Registration Tax
    (payable on enquiry)
    €1,623

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Registered Users Posts: 5,796 ✭✭✭ Isambard


    Last time I did it the minimum was €720. Did something change or did Macs sum come out wrong?


  • Moderators, Motoring & Transport Moderators Posts: 2,941 Mod ✭✭✭✭ macplaxton


    unkel wrote: »
    How do you get 34%? Surely a 328i would be 36%?

    Because different statistical code.

    VRT Calculator
    Vehicle Registration Tax (VRT) calculation for vehicle.
    Edit Details
    Your VRT Calculation
    Date 10/10/2017
    Time 17:42
    Rate of VRT
    34%
    Vehicle Registration Tax
    (payable on enquiry)
    €1,461
    Vehicle Details
    Statistical Code
    40585295
    Model
    328 I
    Make
    BMW
    Version
    I E36 02DR
    Breakdown of VRT Calculation
    Open Market Selling Price (OMSP) determined by Revenue
    €47775
    Monthly Adjustment
    N/A
    Depreciation Code Allocated by Revenue
    A5
    Odometer Reading
    100000 Miles
    Date of First Registration
    January 1993
    Mileage/Kilometre Reduction
    €0
    Rate of Depreciation for this Vehicle
    91%
    Current OMSP determined by Revenue
    €4299
    Revenue CO2 Calculation
    CO2 Emissions
    221

    Rate of VRT
    34%
    Vehicle Registration Tax
    (payable on enquiry)
    €1,461

    From that, you'd want to present the appropriate evidence for emissions banding.


  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 58,874 CMod ✭✭✭✭ unkel


    I'd say it would be hard to prove the emissions of the old 2.8 straight 6 were under 225g/km :D

    Seriously I would be surprised if manufacturers recorded official CO2 records in the early 90s. Not sure what other evidence would be acceptable. I doubt fuel consumption would do the trick here either. Not that it matters much on a car of this value, just out of interest.

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Registered Users Posts: 969 Greybottle


    unkel wrote: »
    I'd say it would be hard to prove the emissions of the old 2.8 straight 6 were under 225g/km :D

    Seriously I would be surprised if manufacturers recorded official CO2 records in the early 90s. Not sure what other evidence would be acceptable. I doubt fuel consumption would do the trick here either. Not that it matters much on a car of this value, just out of interest.


    The Germans did and the Swiss did for imported cars, not sure about ones already registered there.

    The manual 328i comes in at 219g/km. The Auto at 243g/km.

    If you want to find this out www.mobile.de is a good site. Most cars have the CO2 entered in on them, but you need to do a manual search.

    https://suchen.mobile.de/fahrzeuge/search.html?damageUnrepaired=NO_DAMAGE_UNREPAIRED&isSearchRequest=true&makeModelVariant1.makeId=3500&makeModelVariant1.modelId=14&maxFirstRegistrationDate=1997-12-31&maxPowerAsArray=PS&minPowerAsArray=PS&scopeId=C


  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 58,874 CMod ✭✭✭✭ unkel


    Great help Greybottle! That explains it too as I presumed the car to be auto and macplaxton presumed it to be manual

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Moderators, Motoring & Transport Moderators Posts: 2,941 Mod ✭✭✭✭ macplaxton


    unkel wrote: »
    as I presumed the car to be auto and macplaxton presumed it to be manual

    I presumed nothing! :p
    a 328 for preference and definitely manual.


  • Registered Users Posts: 623 ✭✭✭ galvo_clare


    macplaxton wrote: »
    I presumed nothing! :p

    Correct. I did say manual originally!

    Thanks for all the input. I kind of have a hankering for the E36 as I had a lovely 320i saloon back in the day. I saw it two years after I sold it and it was wrecked. Broke my heart after I looked after it so well.
    Lovely engine, even the 2.0 litre.
    As I said, early days, I may go another direction yet.


  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 58,874 CMod ✭✭✭✭ unkel


    Ha! Not reading the thread properly, my bad :)

    My own choice for an E36 convertible or saloon 328i would probably be auto, but for a coupe it would be sports suspension and manual

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Registered Users Posts: 30 ✭✭✭ Alan_Ganley


    I bought a 92 car for £600 (€643)
    Fecking revenue want €740!!
    Thats criminal..
    I am planning to just throw her on axle stands and let it sit till 2022


  • Advertisement
  • Registered Users Posts: 5,796 ✭✭✭ Isambard


    Have you told Revenue/NCT about the car though? If it's on their radar, you might still have to shell out in 2022.(with penalty)


  • Registered Users Posts: 30 ✭✭✭ Alan_Ganley


    LIGHTNING wrote: »
    Or you could have done your research before you bought the car...

    Too good to pass up so it got bought :-)


  • Registered Users Posts: 30 ✭✭✭ Alan_Ganley


    Isambard wrote: »
    Have you told Revenue/NCT about the car though? If it's on their radar, you might still have to shell out in 2022.(with penalty)

    Nope. Its getting sold back to my In-laws till then, if I cant figure something out, and I'll buy it back when its 30 years old.
    Providing we are still allowed petrol then......


  • Registered Users Posts: 5,796 ✭✭✭ Isambard


    should be OK so.


Advertisement