Lambo story in todays papers
Discussion
Guess this might help explain all those low millage cars which keep coming up for sale
http://www.thesun.co.uk/article/0,,2002410000-2007...
Wonder which dealers they were offloading the cars to?
http://www.thesun.co.uk/article/0,,2002410000-2007...
Wonder which dealers they were offloading the cars to?
Presumably the only thing these boys did wrong was that they werent disabled?
If you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
If you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
Davey S2 said:
Presumably the only thing these boys did wrong was that they werent disabled?
If you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
I thought the limit was 4 before any "gains" were taxable. Still, at £20k a pop, its worth doing on the side!If you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
Davey S2 said:
Presumably the only thing these boys did wrong was that they werent disabled?
If you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
The story claims they sold them straight on so they have not had personal use so have abused the system lets hope if convicted they have to pay the VAT to customs plus interestIf you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
neil-f said:
Davey S2 said:
Presumably the only thing these boys did wrong was that they werent disabled?
If you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
The story claims they sold them straight on so they have not had personal use so have abused the system lets hope if convicted they have to pay the VAT to customs plus interestIf you were a registered disbled person there would be nothing to stop you doing this. Where would Customs draw the line on how many cars you had to buy and sell before it constituted a business and not for personal use?
Lots of people only keep supercars for a few months or even weeks before shifting them on.
Even if you 'only' make £10K and do it 4 times a year that is a nice little side income.
TimJMS said:
I guess it lends a whole new meaning to the expression "I'd give my right arm for a Lamborghini"
I gather these people were genuinely disabled - hence getting the VAT back, but selling that many cars constitutes dealing, and therefore defrauding customs. And that's not allowed.
The IR starts to take a dim veiw on selling more than 6 cars per year. Unless of course you are losing money on all of them. Only seems to work one way
Edited by nioks on Friday 27th July 15:43
v-neo said:
This is an old scam that dealers are constantly fighting against - a good dealer will insist the disabled modifications are done to the car before it is picked up, not much of a news story to the dealers I'd guess.
Very rarely do they insist on that.....the company I work for has had to do this for few clients who have disabled employees working for them, the dealership wouldn't let the car be modified until it was paid for. When it was paid for it had to be shipped from the dealer to have the alterations fitted.It's abit like a catch 22 situation, once they have been paid their is no reason for them to care what happens to the car. Most extensive modification can't be done at the dealership anyway.
I have looked into this(and done it)as my mother is disabled,To reclaim the vat the car must be heavilly modified for the disabled person,not just a wheel nob,and the car must be bought cash, if its on finance the finance company own it , not the disable person. A doncaster dealer has been doing this with range rovers for some time,wonder if its him 
Anybody got a walking stick I can borrow?
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