Readers' forum: Back of the grid

For the past five years an entrepreneurial client has spent time buying and selling old four-wheel drive vehicles through his limited company. These may be bought in the UK or from abroad and are then renovated before being sold at good value. Sometimes sales are made to the US and there has been something of an opportunity in the market.

Now my client is changing tack a little and is dealing in old and historic motor racing cars. Another family member has always had an interest in classic and racing machinery and the company has recently bought a 1950s race car costing about £100 000. There are other stock vehicles but the client running the company suggests that attendance at race meetings with this car is of huge benefit for the business and trade is gained from courses such as Silverstone Donington Park and Thruxton. Apparently ...