Help becoming a trader properly . Can't find the answers

[woodz77]

Morning all , sold a few cars private and seems harder and harder as people worry about what they are buying so now want to do things properly as a sole trader .
I've got trader insurance with the test drive facility , I'm registered self employed for tax etc . I've had a meeting last week with a warranty company so that's all sorted . Found a mechanic that will do a health check / pdi and years mot so car is as good as can be . So problems I can't find answers for and are after a bit of help are
1. Finance , been told I need to be registered cca and fca ? Looked up on gov. Site and can't make head or tail of it
2. Wanted to be able to accept card payments seeing as more and more people ask to pay this way but bank said I can have one for my fencing business but definitely not for selling cars ?
3. Anything else you can tell me would be gratefully accepted

[marshalla]

FCA registration : https://www.fca.org.uk/firms/financial-services-re...
And the Consumer Credit Register : https://www.fca.org.uk/firms/consumer-credit-regis...

[woodz77]

Now I'm gonna sound stupid but after I've done the fca and ccl is this when I need to find a finance company and someone that can supply card machine ?

[woodz77]

marshalla said:

FCA registration : https://www.fca.org.uk/firms/financial-services-re...
And the Consumer Credit Register : https://www.fca.org.uk/firms/consumer-credit-regis...

The links are to check the register , I'm still lost with what I need and what I'm classed as but sole trader seems £1500 ?

[droopsnoot]

Is the card machine issue down to potential charge-back issues that might be more likely with a newly-formed used car business than a fencing one? That is, can you ask the bank what their reasoning is for one rather than the other?

[Hussy786]

woodz77 said:

Morning all , sold a few cars private and seems harder and harder as people worry about what they are buying so now want to do things properly as a sole trader .
I've got trader insurance with the test drive facility , I'm registered self employed for tax etc . I've had a meeting last week with a warranty company so that's all sorted . Found a mechanic that will do a health check / pdi and years mot so car is as good as can be . So problems I can't find answers for and are after a bit of help are
1. Finance , been told I need to be registered cca and fca ? Looked up on gov. Site and can't make head or tail of it
2. Wanted to be able to accept card payments seeing as more and more people ask to pay this way but bank said I can have one for my fencing business but definitely not for selling cars ?
3. Anything else you can tell me would be gratefully accepted

Hi

For finance best bet is to use Zuto but you will need to have a business bank account, also if you pm me i may beable to help you with a card terminal.

: )

[Wilmslowboy]

Re finance, contact one of the finance companies and they will walk you through what's required and how to work with them.


http://www.blackhorse.co.uk/dealerportal/motor-dea...


https://www.zuto.com/blog/why-do-we-have-a-recomme...