How do i set up as a motor trader?

[Casjim26]

Hi everyone new to piston heads,
I'm working as a mechanic for Volkswagen at the minutein the uk.orginally from ireland and have always done some buying and selling IV now got a good connection that I am able to buy cars quite cheap, and IV also got a trader back in Ireland who wants cars,IV I already sold him 3 cars and made 1500 on each!as the car prices in Ireland are almost double compared to the uk.he is now looking for me to get registered and be able to get proper invoices because his account is in his ear IV got a supplier,a buyer and a cheap way of transporting the cars home I just want to no what I need to do to make it all by the book as this guy is going to take alot of cars and I think the bank are starting to catch on!!!also when I buy the cars from my supplier I go take pictures of them in his yard and then send them onto my buyer back in Ireland then the cars are transported on the back of a truck straight to my buyers garage

Q1-- so do I need to have motor trade insurance as im not driving any of the cars?

Q2--can I just registered as a sold trader?

Q3--do I have to have trade plates?

Any feedback would be great.

Edited by Casjim26 on Wednesday 4th October 19:30

[Toaster Pilot]

You don't need trade insurance or trade plates if you're not driving the cars UNLESS you want to cover them whilst they are in your ownership against theft / fire / etc

Tell HMRC you're self employed (sole trader) and get a business bank account, pretty simple

Unless there is some reason the buyer wants you to be trading as a limited company you should be all set.

You'll need to register for VAT if your turnover reaches the limit which is quite easy to do if you are shifting more than a couple of cars given the values.