I think it's too soon to understand where the classic car market is at, or what the future holds. We have yet to understand the future impact of further tax rises in the Autumn budget. Increasing, I feel each successive budget will see a new cash raising exercise, as the UK tax receipts fall in real terms and UK debt financing continues to spiral out of control.
They have found that tinkering around with CGT limits has actually reduced the tax take, so once they have exhausted taxing the pension pots and draw down allowances, there are few places left to tax. So a general wealth tax, is most likely on the horizon and I can see CGT being extended to absolutely all revenues generated on sale over an assets/items cost, currently exempt becoming taxable. So cars and watches etc., may face a form of CGT on profits and therefore we may see a shift in the size of market speculation and resultant values will drop, leaving it to purely enthusiasts. I also don't think we will see. the advantageous concessions on over 40 year old cars, for too much longer especially once new ICE sales end in 2030.
The ICE decline maybe further accelerated in the future by changes in social values as net zero begins to takes hold and more hard core .than today. The UN Court leaving the back door open to other nations seeking compensation for the UK pollution, if successful will become game changers.
Last edited by JohnHarris; 05/08/25 07:08 PM.
