Selling cars from home

[wellywells]

Hi I am after some advice about selling some cars from home. I intend to start of with just 1 car to sell and will be doing in mostly part time in the evenings and weekends as a little side earner.

But what I want to know is if I buy a car privately at a good price how to I get the v5 without putting an extra owner on it and having to wait for a new v5 to come back before I can sell the car

Any help would be much appreciated

Matt

[Eric Mc]

There was a big thread on this very subject a few weeks ago.

There are Income Tax, National Insurance, Capital Gains Tax, Business Rates and local authority Planning Permission issues which everyone must consider before deciding to run any business from their home.

[wellywells]

Yes I understand all that and know what I need to do in that respect ie pay tax on my profit margin and vat to pay etc etc.

But I want to know how you go about obtaining a vehicle without adding another owner to the v5

[Eric Mc]

That's fine.

I'll bow out of the discussion then.

[wellywells]

So can you not answer my question Eric, it would be appreciated

[Eric Mc]

No. I'm not a car trader - only an accountant.

[Glassman]

Eric Mc said:

No. I'm not a car trader - only an accountant.

[wellywells]

ok well thankyou for your prompt advice anyway, much appreciated.

[Eric Mc]

Glassman said:

Eric Mc said:

No. I'm not a car trader - only an accountant.

Why do you think I drive a Seven

[KingRichard]

wellywells said:

Yes I understand all that and know what I need to do in that respect ie pay tax on my profit margin and vat to pay etc etc.

But I want to know how you go about obtaining a vehicle without adding another owner to the v5

You just fill in the traders section when you buy the car... Surely

[wellywells]

Thats what i thought, but do I fill in the yellow section and keep the whole v5 and just sign and date it when I sell it even if its in someone else name. Or does the whole thing go back as normal and do I have to wait for a new v5 as normal??

[minghis]

Everything you need and more here:

http://www.dragon2000.co.uk/cgi-bin/yabb2/YaBB.pl?...

HTH, it did for me.

[DonnyMac]

Doesn't the V5 have a 'motor trader' section to it?

[paoloh]

You fill out "traders" section and give to owner to send off himself when you buy the car, you keep the whole of the V5. You then fill it out and send it of yourself when you sell the vehicle. ( in the new owners name )

HTH