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Where Taxpayers and Advisers Meet

Tax from selling a car

Cartoonhead
Posts:2
Joined:Mon Jun 01, 2020 2:14 pm
Tax from selling a car

Postby Cartoonhead » Mon Jun 01, 2020 2:19 pm

Hello All,

I have a car which in the UK would sell for probably a maximum of £8,000, however, I'm going to be selling this car in Uganda where it's worth just over £40,000. My wife is Ugandan and we have contacts to enable us to do this and I will receive the money into my bank account before the car is shipped. So I'm wondering if there would be tax to pay on this?

jerome.lane
Posts:237
Joined:Mon Aug 12, 2019 8:41 am
Location:Sandhurst, Berkshire
Contact:

Re: Tax from selling a car

Postby jerome.lane » Mon Jun 01, 2020 4:36 pm

Unless you’re a car trader, there are no tax implications to selling a private car.
Jerome Lane
Tax Adviser
Telephone: 07943 005902

Cartoonhead
Posts:2
Joined:Mon Jun 01, 2020 2:14 pm

Re: Tax from selling a car

Postby Cartoonhead » Mon Jun 01, 2020 4:45 pm

Great, thanks!


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