I don't doubt that such schemes exist and I was curious enough to investigate. I know uk.gov websites are usually very clear.
Here are two relevant pages for two different schemes:
1) taking-vehicles-out-of-uk
"If you buy a brand new vehicle to take out of the UK (also known as supply of a ‘New Means of Transport’) you don’t have to pay UK VAT or vehicle taxes such as the registration fee."
(Interestingly this can apply to a new vehicle going to the EU too. But that obviously isn't relevant in this case.)
2) Personal Export Scheme This seems to be the most suitable
Extract:
"This notice describes the Personal Export Scheme (PES). The scheme allows motor vehicles to be supplied in the United Kingdom free of VAT if they’ll soon be exported to a destination outside the EU. This notice sets out the conditions you must follow if you want to use the scheme, either as a buyer or a seller.
Who can use this scheme
You can use the scheme if you’re:
from outside the EU
an EU resident who’s leaving the EU for at least 6 months
You usually have to be personally driving your vehicle to a non-EU country."
That last sentance would suggest the vehicle is registered and road legal. The page also says the owner can use it for 12 months in the UK. That's a surprise!
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