Welcome to Accountants for Classic Cars
With so much traffic on the road, it seems like every single person owns a car in today’s time. There are many types of cars, there is a sports car, compact car, minivan, etc. However, classic cars seem to make the heads turn! If you own a classic car or plan on getting it well then you should consult our Accountants for Classic Cars.
There are high chances you are not aware of the taxes implied on a classic car or worst you could be paying more tax than needed! Now worried about the tax refund? Don’t worry our Classic Car Accountants are here to help you.
What’s it’s Age
The time of classic cars can fluctuate impressively, and there are a few definitions with respect to how old a vehicle should be before it turns into a work of art (a classic). HMRC characterizes classics as being more than 15 years of age with a rundown cost of a minimum £15,000, yet to be tax-exempt, the classic should be at any rate 40 years of age.
Purchasing a classic car may be perhaps the most energizing auto buys you’ll actually make. So, it pays to do your research. Collectible and vintage vehicles can be expensive to buy, rebuild, and sustain. Classic car insurance works distinctively also, as the value of the vehicle is increased with time.