The Triumph Dolomite Club - Discussion Forum

The Number One Club for owners of Triumph's range of small saloons from the 1960s and 1970s.
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PostPosted: Sun Jun 03, 2018 1:26 pm 
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TDC West Mids Area Organiser
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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?


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PostPosted: Mon Jun 04, 2018 10:20 pm 
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Future Club member hopefully!
Future Club member hopefully!

Joined: Mon Dec 03, 2012 6:04 pm
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Quote:
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.


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PostPosted: Tue Jun 05, 2018 7:06 am 
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Location: Over here...can't you see me?
I recall values went mad around 1990 for a while. A lot of folk were stung when the bubble burst and a lot of others just kept the cars and kept quiet!


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