Bringing a car to the UK from outside of the EU is quite common. Look at all of the stupidly fast Subaru Imprezas out there and most will have been previously owned in Japan.
It's also not unusual to bring cars in from America, such as the Ford Mustang, or the fast Holdens from Australia. Check out our
top ten list of grey imports for some more examples.
The only real difference here is the Customs and Excise forms you need to fill in. So ask for form C&E 386 and smile sweetly before putting pen to paper.
Older cars may be tax-exempt, but this is not automatically granted as Customs and Excise has a different view as to what old and classic means. Expect to pay VAT and you might get a pleasant surprise if you don't have to pay all or any part of it.