.....well it is as far as HMRC is concerned.

"HM Revenue & Customs classes a car as classic if it is more than 15 years old and worth more than £15,000".

I know it's The Mail (spit) but it makes interesting reading.

http://www.dailymail.co.uk/money/cars/ar...soar-value.html

£15k - that's the coupe then.

Not so - mine's currently insured for ten grand and I'm sure it's not the only expensive one out there. Prices are rising.

I have both my LE's under written and not insured.

LE 212 is £15k, LE 074 the track toy is £25k. Maybe we need to look at moving away from insured policies and move to agreed valuation for total loss.

I might of mentioned this before as book valuation on these cars is very very low unfortunately

How does underwritten compare in cost to normal car Insurance?

Not sure as my Coupes are covered by the company insurance so part of the annual costs.

Hopefully Sarah will know more on this.............

Sarah

You really believe hmrc will go on an underwritten value rather than book / market? I don't.

Another 5 - 10 years yet fellas.

http://www.hmrc.gov.uk/manuals/eimanual/EIM24405.htm

"Market values of classic cars may be found in specialist publications, contemporaneous sale documents or insurance details for the car concerned."

May have a chance with an especially well cared for example, if its underwritten for £15k+

So all the MGBs and Morris Minors are not classified as classic cars then ? since most will be sub £15k.

Yabbut - this is only intended as the guidance for if one chooses to take a company car allowance and purchase a classic, to sort out the tax implications.

It doesn't have a lot of relevance to us...

Ah okey dokey.