Car importation question

Jivin Turkey

Right, Im rehashing a friends story here so if Im unclear on any important details just say and Ill try to clarify.

A mate of mine moved here from Spain last year, he brought his car with him, a LHD Hyundai Coupe FX. He had it over here for a year and finally decided to import it, paid VRT etc etc.

Now about a month after he imports the car he gets a promotion in work, and a new company car.

He is under the impression that he must keep his imported Coupe for six months, and also tax and insure it for this period.

I dont know much about the importation system but I said to him it might be the case to stop people just importing foreign cars and selling them here on a retail basis. Insurance and taxing the car indicates that its for personal use.

What are the requirments post-import? Does he have to hang onto the car for six months and tax/insure it? Could he write to the tax office and try and explain his story? He really wants to get rid of the Coupe as he could do with the extra cash.

Next question, anyone want to buy a 98 LHD Coupe?

jimmycrackcorm

I brought a car over friom the north - had to keep it for a year to avoid VRT. fortunately it got stolen and written off.


Better off selling it back home and pocketing themoney.

commited

As far as I know, if you own a car for a year then you dont have to pay VRT when you bring the car to Ireland.

nxbyveromdwjpg

If hes paid the VRT he can sell it anytime he wants.

The not being able to sell it for 6 months rule is only for those who got a VRT exemption (to stop people cashing in on their VRT-less car), so if hes paid the VRT like you say then he's free to sell it right now.

He'll need to tax it to receive the logbook/transfer of ownership form though, so he should just just tax it for the next 3 months, then sell it when the documents arrive in a weeks time.

nxbyveromdwjpg

Jivin Turkey wrote:

He had it over here for a year and finally decided to import it, paid VRT etc etc

You mean he has had the car in Ireland for over a year without registering That will have cost him a VRT exemption...

ambro25

If he brought the car in and availed of the VRT exemption (because he'd owned it for more than 6 months before coming back to Ireland), then he has to wait 12 months from the date of registration (the date at which the VRT office provided him with an IE reg) before he can sell.

If he brought the car in and paid VRT, then he can sell it at any time.

Not that it will do him much good anyway, can't see him making much €s with a LHD in ireland - unless he finds a PL/LT buyer (would do him good to check his maths first, e.g. IE 2nd-hand value, ES 2nd-hand value, price of shipping back to Spain, etc, etc.)

yop

I any brings a car in from the UK, lets it sit for a year in Eire, then do they avoid the VRT?

ambro25

yop wrote:

I any brings a car in from the UK, lets it sit for a year in Eire, then do they avoid the VRT?

No - but you get to pay cheaper VRT as OMSP comes down a year on

prospect

AFAIK, in order to become VRT exempt you must:

1. Have lived abroad for more than 12 months
2. Owned the vehicle in question for more than 6 of those months
3. On your return to Ireland, you must keep the car for at least 12 months after it is re-registered.

I think it is point number 3 that is confusing the OPs friend. But seeing as he/she has paid the VRT, then they are under no obligation to hold onto the car.

I am curious though. It seems the OPs friend would have qualified for the VRT exemption. Surely it would have been cheaper for this person to bring the car back, avoid the VRT by keeping the car for 12 months. Take a car allowance from his employer. Then sell the car for a considerable profit a year later, then switch to a company car...

Jivin Turkey

Thanks for the replies everyone.

Im not sure if he was entitled to an exemption or not, I doubt he even knew, I think one day he just decided to officially import the car and that afternoon did it. Ill find out what he has paid etc.

If he has paid to import a exempt car there is slim chance of seeing the money again I presume.

Again from what I read above, if he has paid VRT (regardless of exemption status) he is free to sell the car today?

ambro25

Jivin Turkey wrote:

If he has paid to import a exempt car there is slim chance of seeing the money again I presume.

Slim to none...don't know...get him to ring the VRT Office.

Jivin Turkey wrote:

Again from what I read above, if he has paid VRT (regardless of exemption status) he is free to sell the car today?

If he's paid in full whatever VRT was owed at the time he applied to register, yes.