Best date to transfer V5 - first/last day of the month?

Best date to transfer V5 - first/last day of the month?

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Discussion

Venisonpie

Original Poster:

3,231 posts

81 months

Tuesday 27th October 2020
quotequote all
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?

randlemarcus

13,507 posts

230 months

Tuesday 27th October 2020
quotequote all
In my head, I'm a last day of the month person. Theoretically, I owe the tax for the preceding thirty days, but in reality, as long as I tax it the day after, for the following month, nobody is going to chase me, and that's good enough.

martinbiz

3,047 posts

144 months

Tuesday 27th October 2020
quotequote all
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

Venisonpie

Original Poster:

3,231 posts

81 months

Tuesday 27th October 2020
quotequote all
Thanks, I'll "sell them" on Saturday and re tax in the new name on Sunday.

BertBert

18,953 posts

210 months

Tuesday 27th October 2020
quotequote all
Isn't it going to be double taxed for the month in which the change is made anyway?

randlemarcus

13,507 posts

230 months

Tuesday 27th October 2020
quotequote all
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.

Venisonpie

Original Poster:

3,231 posts

81 months

Tuesday 27th October 2020
quotequote all
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.
Yes, this.

As it's an internal fleet transfer I can control both sides and avoid the double charge (hopefully).

NGRhodes

1,291 posts

71 months

Tuesday 27th October 2020
quotequote all
Old owner SORNs on last day of month in the evening to avoid the double tax before transfer of ownership.
Car enters new ownership on the 1st and taxes on the 1st.

Edited by NGRhodes on Tuesday 27th October 13:57

Venisonpie

Original Poster:

3,231 posts

81 months

Wednesday 28th October 2020
quotequote all
NGRhodes said:
Old owner SORNs on last day of month in the evening to avoid the double tax before transfer of ownership.
Car enters new ownership on the 1st and taxes on the 1st.

Edited by NGRhodes on Tuesday 27th October 13:57
Do you need to sorn or just transfer?

jonwm

2,504 posts

113 months

Wednesday 28th October 2020
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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