Best date to transfer V5 - first/last day of the month?
Discussion
I need to transfer a V5 from one business to another, to avoid overpaying road tax what is the best day to do this to avoid any overlap in payment.
I want to get a full refund with the current company but not pay more than necessary with the new company.
I assume I transfer the V5 on the last day of the current month and tax it with the new company on the first of the following month? Or am I missing something?
I want to get a full refund with the current company but not pay more than necessary with the new company.
I assume I transfer the V5 on the last day of the current month and tax it with the new company on the first of the following month? Or am I missing something?
Generally if you tax It not any later than at some point in the following Month you will be fine, they still get everything that’s due and that’s really all they’re bothered about. I forgot to tax one of my bikes last June and ended up over 3 weeks into the next month before I did it and never heard a thing
BertBert said:
Isn't it going to be double taxed for the month in which the change is made anyway?
It should be, technically. But the OP isnt going to tax it on the last day of the month, but instead on the first day of the month. And DVLA/whoever dont care to chase for the theoretical month, and the OP isnt going to volunteer the cash.I suspect if they chose to chase it, we could have awkward conversations about "why dont you tax it day by day, the calculation isn't tricky", but they don't so we don't. I also suspect that there is a plentiful supply of people who change ownership when its convenient for them, i.e. the 3rd of the month, and happily pay up, which is a win for the Exchequer.
randlemarcus said:
BertBert said:
Isn't it going to be double taxed for the month in which the change is made anyway?
It should be, technically. But the OP isnt going to tax it on the last day of the month, but instead on the first day of the month. And DVLA/whoever dont care to chase for the theoretical month, and the OP isnt going to volunteer the cash.I suspect if they chose to chase it, we could have awkward conversations about "why dont you tax it day by day, the calculation isn't tricky", but they don't so we don't. I also suspect that there is a plentiful supply of people who change ownership when its convenient for them, i.e. the 3rd of the month, and happily pay up, which is a win for the Exchequer.
As it's an internal fleet transfer I can control both sides and avoid the double charge (hopefully).
I picked a car up last week, we wont be needing it till November so just sorn'd it the next day, I got an email confirmation it was done, not paid anything and presume the last owner got a rebate.
V5 came within 2 days (wrong house number on it) so sent that back but no ones chased me for anything yet
V5 came within 2 days (wrong house number on it) so sent that back but no ones chased me for anything yet
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