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Is there any VRT payable on importing classic cars?

  • 10-11-2008 1:06pm
    #1
    dee8839
    Closed Accounts Posts: 283 ✭✭


    Hi, I'm researching tax issues on classic cars. On the Classic Cars Ireland website it says that there is no VRT payable on importing classic cars but this site seems to have stopped updating some time in 2006!! Does anyone know is this still the case after the Budget 2009? Thanks.


Comments

  • #2
    zai800
    Registered Users Posts: 29 ✭zai800


    I imported a 30 year old car from UK earlier this year and all I had to pay was approx 45 euro at customs office for registration number etc


  • #3
    macplaxton
    Moderators, Motoring & Transport Moderators Posts: 2,957 Mod ✭✭✭✭macplaxton


    VRT is payable on cars over 30 years old ("vintage"), but it's VRT category C, which is a flat rate of €50.00

    The annual motor tax rate for "vintage" vehicles is €46, but is set to increase on the 1st January 2009 to €48.


  • #4
    PaulK_CCI
    Registered Users Posts: 827 ✭✭✭PaulK_CCI


    dee8839 wrote: »
    Hi, I'm researching tax issues on classic cars. On the Classic Cars Ireland website it says that there is no VRT payable on importing classic cars but this site seems to have stopped updating some time in 2006!! Does anyone know is this still the case after the Budget 2009? Thanks.

    dee8839, I try to update the site regularly, although the info on the Benefits and general info pages has indeed remained the same for the last couple of years, mainly because there haven;t been any significant changes as such. It seems I may have to update this to make it clear to everyone, that after the 2009 budget, this exemption rules remains in place and it has no significant consequences for owners of 30+ year old cars.

    Cars over 30 years old were always 'exempt' from VRT, but you paid a flat admin registration fee of 50 euro's.
    It now seems they class this as a seperate VRT category C rate.

    One very important factor that prospective buyers sometimes forget about, is that whenever a car is imported from a country OUTSIDE the EU Union, the normal VAT rate of 21% on the purchase price of any vehicle PLUS the collected transport and storage fees apply. On top of that, you pay 10% Customs and Excise duties!!!! This can sometimes run up to quite a considerable amount, and if you hadn;t budgeted for that, it can be an nasty surprise. I therefore source all my cars in Europe, so that it's easier to check out a car beforehand and it;s cheaper to get it accross...


  • #5
    dee8839
    Closed Accounts Posts: 283 ✭✭dee8839


    Thanks for that, answers my question perfectly, much appreciated. One more for you though - any approximate number for how many classic (i.e. over 30 years old) cars there actually are in Ireland at the moment?


  • #6
    macplaxton
    Moderators, Motoring & Transport Moderators Posts: 2,957 Mod ✭✭✭✭macplaxton


    PaulK_CCI wrote: »
    Cars over 30 years old were always 'exempt' from VRT, but you paid a flat admin registration fee of 50 euro's.
    It now seems they class this as a seperate VRT category C rate.

    Ok, it's probably me nitpicking the definitions, but my understanding that they were never exempt, but just paid a flat rate rather than a percentage, like some commercials vehicles. Vehicles which are exempt totally are VRT category D which includes ambulances and fire engines. ;)
    PaulK_CCI wrote: »
    One very important factor that prospective buyers sometimes forget about, is that whenever a car is imported from a country OUTSIDE the EU Union, the normal VAT rate of 21% on the purchase price of any vehicle PLUS the collected transport and storage fees apply. On top of that, you pay 10% Customs and Excise duties!!!! This can sometimes run up to quite a considerable amount, and if you hadn;t budgeted for that, it can be an nasty surprise. I therefore source all my cars in Europe, so that it's easier to check out a car beforehand and it;s cheaper to get it accross...

    True, and make that 21.5% VAT from the 1st December 2008.

    Also, does the 10% CCT not get added first before the VAT is planted on top that total?


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  • #7
    macplaxton
    Moderators, Motoring & Transport Moderators Posts: 2,957 Mod ✭✭✭✭macplaxton


    dee8839 wrote: »
    Thanks for that, answers my question perfectly, much appreciated. One more for you though - any approximate number for how many classic (i.e. over 30 years old) cars there actually are in Ireland at the moment?

    I'm going to have an educated guess at this and say around 15-20,000.

    I've arrived at this based on 2006 figures for 2.3 million cars registered in the Republic and an 2006 FIVA survey putting EU-wide historic vehicle numbers being about 0.8% of all vehicles registered.


  • #8
    m5hartge
    Closed Accounts Posts: 3 ✭m5hartge


    I am looking at bringing in a classic also, however it has been drastically modified, built on a 1967 mustang, it has been modified to the elanor style, and has had complete rebuild and body work done, will this affect the lower rate?


  • #9
    trevorbrady
    Registered Users Posts: 551 ✭✭✭trevorbrady


    macplaxton wrote: »
    Also, does the 10% CCT not get added first before the VAT is planted on top that total?

    yep, if importing from outside the EU, you pay duty at 10% on the cost of the vehicle landed in Ireland (i.e. purchase price plus shipping cost) then VAT at 21.5% on the total of the purchase price, shipping costs plus Duty.

    Basically you're paying tax on the tax. It's nuts...

    There is a small loophole if you look for it though. You won't get out of paying any duty but it can be reduced. Have a think about it...


  • #10
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    m5hartge wrote: »
    I am looking at bringing in a classic also, however it has been drastically modified, built on a 1967 mustang, it has been modified to the elanor style, and has had complete rebuild and body work done, will this affect the lower rate?

    I can't help but ask if you have a Hartge M5, and if so, any pics? Sorry for the OT post. 99.99% sure the VRT will be €50 no matter what modifications.


  • #11
    Abelloid
    Registered Users Posts: 3,495 ✭✭✭Abelloid


    trevorbrady wrote: »
    yep, if importing from outside the EU, you pay duty at 10% on the cost of the vehicle landed in Ireland (i.e. purchase price plus shipping cost) then VAT at 21.5% on the total of the purchase price, shipping costs plus Duty.

    Basically you're paying tax on the tax. It's nuts...

    There is a small loophole if you look for it though. You won't get out of paying any duty but it can be reduced. Have a think about it...

    Well you can get VAT down to 17% landing in a UK port...


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  • #12
    trevorbrady
    Registered Users Posts: 551 ✭✭✭trevorbrady


    probably 15% now, even better!! ;)


  • #13
    m5hartge
    Closed Accounts Posts: 3 ✭m5hartge


    Limerick-man wrote: »
    I can't help but ask if you have a Hartge M5, and if so, any pics? Sorry for the OT post. 99.99% sure the VRT will be €50 no matter what modifications.

    no pictures but will try and get one up, its 05, not in great shape at the min getting a bit of tidying up done on it, a couple of scratches and bruises, great car though, thanks for the info.


  • #14
    PaulK_CCI
    Registered Users Posts: 827 ✭✭✭PaulK_CCI


    m5hartge wrote: »
    I am looking at bringing in a classic also, however it has been drastically modified, built on a 1967 mustang, it has been modified to the elanor style, and has had complete rebuild and body work done, will this affect the lower rate?

    If the car is still essentially a 67 Mustang, bearing the original 67 Mustang VIN number, and you have the documentation to go with it, I don't foresee any major problems....
    There is only one snag and that is when the engine would have been replaced with something completely different from what would originally have been fitted to a 67 Mustang (289, 302, 390, 428ccu would be the correct engines for the the 67's :-). But again, I would only foresee a delay, while the new car/engine combination is being setup in the computer system.

    The 'eleanor' recreations are essentially mostly slight bodywork alterations and suspension upgrades, etc, the chassis and nature of the vehicle isn;t changed dramatically. It's a different story if you were looking at importing a type of replica like the modified Chevrolet Corvette that looks like a Ferrari Daytona Spider (as the famous black Miami Vice car), that's a different story and could get you into problems trying to get it in...

    Bringing it in from States, does ofcourse require paying all the extra duties and VAT, so you're better off sourcing it in Europe... I know of at least two for sale here :D


  • #15
    m5hartge
    Closed Accounts Posts: 3 ✭m5hartge


    PaulK_CCI wrote: »
    If the car is still essentially a 67 Mustang, bearing the original 67 Mustang VIN number, and you have the documentation to go with it, I don't foresee any major problems....
    There is only one snag and that is when the engine would have been replaced with something completely different from what would originally have been fitted to a 67 Mustang (289, 302, 390, 428ccu would be the correct engines for the the 67's :-). But again, I would only foresee a delay, while the new car/engine combination is being setup in the computer system.

    The 'eleanor' recreations are essentially mostly slight bodywork alterations and suspension upgrades, etc, the chassis and nature of the vehicle isn;t changed dramatically. It's a different story if you were looking at importing a type of replica like the modified Chevrolet Corvette that looks like a Ferrari Daytona Spider (as the famous black Miami Vice car), that's a different story and could get you into problems trying to get it in...

    Bringing it in from States, does ofcourse require paying all the extra duties and VAT, so you're better off sourcing it in Europe... I know of at least two for sale here :D

    thanks for that, thats pretty clear so, I will check the vin and documentation will all be in order, its an import from the uk to be honest, there seems to be a real gunuine dealer over there working on them, but I will visit before it goes anywhere, hey if you have any ideas of any others for sale let me know anything you have, that would be a massive help. thanks again.


  • #16
    renas
    Registered Users Posts: 1,950 ✭✭✭renas


    so guys what about classic cars not vintage ones... cars over 20 years old.. are they in need of vrt ?


  • #17
    colm_mcm
    Registered Users Posts: 73,379 ✭✭✭✭colm_mcm


    Yes. Classic vrt kicks in at 30 years


This discussion has been closed.
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