Legal issues regardinf selling cars privately

nobodiez

Hi
Anybody know the law in regards to how many cars you can sell/import from uk etc for profit, before the taxman starts chasing you?
Lady in the VRT centre said you can vrt as many as you like because you could be buying cars for your kids etc which sounds fairly stupid
Anyone with experience how many you can have in your name and sell for profit? And what fines/penalties you can get for profiting off cars without paying taxes
Thanks

kona

nobodiez wrote: »

Hi
Anybody know the law in regards to how many cars you can sell/import from uk etc for profit, before the taxman starts chasing you?
Lady in the VRT centre said you can vrt as many as you like because you could be buying cars for your kids etc which sounds fairly stupid
Anyone with experience how many you can have in your name and sell for profit? And what fines/penalties you can get for profiting off cars without paying taxes
Thanks

I think its 6 per year, if i remember from the last craze in 2008.

Hitman3000

nobodiez wrote:

Hi Anybody know the law in regards to how many cars you can sell/import from uk etc for profit, before the taxman starts chasing you? Lady in the VRT centre said you can vrt as many as you like because you could be buying cars for your kids etc which sounds fairly stupid Anyone with experience how many you can have in your name and sell for profit? And what fines/penalties you can get for profiting off cars without paying taxes Thanks

Have you noticed how many cars there are here for sale without the VRT being paid? Do you think the profit is being declared? If you intend setting up an import business I suggest you seek proper advice regards tax etc.

Dravokivich

Hitman3000 wrote: »

Have you noticed how many cars there are here for sale without the VRT being paid? Do you think the profit is being declared? If you intend setting up an import business I suggest you seek proper advice regards tax etc.

Aye, all those UK reg cars being sold privately in Dublin. Is unreal. I wouldn't want the hassle of that at all.

NIMAN

Always wondered about that.

If you were to buy a UK reg car in say Cork or Dublin, it would be a pile of hassle if you wanted to make it legit and change it over to IRL plates. The VRT folk can be very picky about the proper documentarion, when the car came into Ireland etc...probably wouldn't get all that from a private seller.

And afaik, its illegal for a dealer to sell you a UK reg car in Ireland. They have to convert it first? Is that right?

aujopimur

NIMAN wrote: »

Always wondered about that.

If you were to buy a UK reg car in say Cork or Dublin, it would be a pile of hassle if you wanted to make it legit and change it over to IRL plates. The VRT folk can be very picky about the proper documentarion, when the car came into Ireland etc...probably wouldn't get all that from a private seller.

And afaik, its illegal for a dealer to sell you a UK reg car in Ireland. They have to convert it first? Is that right?

Registered dealers deal with the VRT prior to sale.
When you buy an undeclared car privetely, you will sign a declaration giving the sellers details when registering for VRT, the Revenue Comm. will decide whether to persue the matter.

Henry Ford III

I'm not sure the number of transactions are significant tbh. It's more to to with motive and profit.

A single import and sale of a high end vehicle can produce many thousands of € profit.

If that figure is high enough the Revenue might well awaken and take notice.

Doltanian

Don't you need a TAN number and be registered with Revenue.