https://www.thetimes.co.uk/article/50-0 ... 7be3f82db9
https://www.thetimes.co.uk/article/the- ... 1d69639dbc
Quite why HMRC need to define what constitutes a classic car is beyond me, seeing as any profit made on a car is not taxable under CGT...unless they have plans to change that? Interestingly, my agreed value policy can only be used on cars up to £15k; co-incidence?
Allot of speculation in the high end of the market, people seeing classics as an investment for retirement. More stuff like Etypes than Dolomites. I suppose HMRC might be interested.
Frankly I think investing in cars is a fools game. For a start there is condition, any classic can hide a horror show. If you don't drive it, the condition can deteriorate and I wouldn't want to put a large amount of cash into something that could literally rust away.
I suppose people think it is a fun investment, there was a similar thing with wine a few years back. I suspect that the market in classics, at least at the upper end is ripe for a correction and decline in prices.