If you had a choice - 356B or 356C?

[Nick Moss]

Are you just being a little territorial Nick?

Sorry, I don't understand. He's not treading on my toes if that's what you mean, I've retired.
I am warning Gary that there may be more to being a trader than is apparent to many. It's up to HMRC to decide his status, not him. As a trader the duty rate increases dramatically. He could easily loose the cars if he avoids duty.

[Ashley James]

Are you just being a little territorial Nick?

Sorry, I don't understand. He's not treading on my toes if that's what you mean, I've retired.
I am warning Gary that there may be more to being a trader than is apparent to many. It's up to HMRC to decide his status, not him. As a trader the duty rate increases dramatically. He could easily loose the cars if he avoids duty.

But isn’t that his affair Nick?

[gturner008]

Duty rates are nothing to do with CGT. They are independent.

[gturner008]

And with greater respect, what has this to do with 356s?

[Nick Moss]

What is the infatuation with CGT? A 356 is a car that is subject to imports tariffs just like any other VHI

[gturner008]

And that rate is 5% Nick. Which is what I’ll pay.

[john ruston]

Lot of fuss
If you regularly import cars then flip them for a profit your trading.
The import tax is 5% for a car that is deemed to be historic
Seems like a reasonable set of rules to me
Nicks posts make sense and just pointing out the facts
Some want CGT imposed on Classic Cars including the odd one of those involved in flogging the Cars which surprised me.
With the change in state of market best of luck selling the cars.

[neilbardsley]

Lot of fuss
If you regularly import cars then flip them for a profit your trading.
The import tax is 5% for a car that is deemed to be historic
Seems like a reasonable set of rules to me
Nicks posts make sense and just pointing out the facts
Some want CGT imposed on Classic Cars including the odd one of those involved in flogging the Cars which surprised me.
With the change in state of market best of luck selling the cars.

Thank you John. Back onto onto cars.

John, what are running at CLM this year?

[john ruston]

No Porsche’s for us at LMC
We have enough going on with the three 105’s in G1 and Elva in G4
The Torfoffs are running my old 356 and Stevens 356 Speedster GT must be pick of bunch
Will may break 5 30 in GT now the FIA agree that front disc brakes are allowed
Let’s hope so.
Should things work out we will have a Speedster GT for next edition