Quote:
Originally Posted by EB
Fun fact, cars are deemed “wasting assets” under UK tax law and thus exempt from capital gains tax on sale.
Since hypercars like that one tend to appreciate in value as collectors items, the gaping tax loophole has led to a boom in the hypercar market in the UK. Some collectors have dozens of them.
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I saw a post somewhere recently highlighting some classified ads from an English car magazine from the early-ish 2000s. Selling minty condition, sub 15k miles 959s for 20 grand and below
