We are VAT registered in both businesses as it just make sense financially for us. When we had the computer shop we had no choice as the turnover was always over £250,000. High turnover for not a lot of profit.
Pete - That's the sort of car and prices I've been seeing. Would like to see underneath though as your still taking a chance if you don't. Looks good but clearly needs painting as all the top surfaces look flat but then don't they all. Maybe you could get it for $10 but once you add all the other costs I cant see it selling for much % profit and you need to make a reasonable % to cover your risks. You must also remember, as has already been the case, HMRC can still pursue you in the years to come for the full non historic duty if they consider you previously should have paid the full duty. The most famous case being the one with JD Classics over the cars they had imported from the US. They took them to court for nearly £300,000 in underpaid duty. I remember how far they can go back but I think its 5 years.
Again I'm not disagreeing with anything you've said. Yep, you would need underbody pics to give a better idea of the condition.I was looking from a personal import point of view rather than a resale.But to go back to the original point where I commented on your post of the sad 'Zap',I'll be honest and there was nothing wrong about what you posted I just got the feeling it was a bit of 'dealer' patter 'buy one quick, or this is all you'll be left with'.
In a previous life I wanted a Japanese 300zx import, I did a bit of internet searching and had a rough idea how to do it, went to a dealer who had an imported Supra for sale,asked him how to go about 'nah mate, you can't do it, need to be registered ...blah ..blah ..blah'. Done it myself.
Anyway, on holiday all next week, planning a road trip in the Datty and it's decided to run a rough, hey, ho.
- you must have a very boring day-job.
