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Thread: buying a car to sell

  
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    johnsastra16v's Avatar
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    buying a car to sell

    Hi guys

    Im not too clued up on this subject, hence asking on here, so dont shoot me down.

    what are the laws about buying and selling cars to make a profit?

    Im not talking dealer type, just 2 cars per year for arguments sake

    are you then classed as a registered owner?

    can anyone shed some light on the situation for me

    cheers

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    pete soulby's Avatar
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    i think you dont have to declare yourself as a dealer as long as you keep below a certain amount of cars, i believe it was less then 7 a year was ok. Could be well wrong though!!

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    gsi-jay's Avatar
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    think its 5 a year your allowed to register to your self before they start questioning
    courtney stage 3 zafira,Mitsubishi evo geek mapped to 389 and 470 lb of torque

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    Smoki333's Avatar
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    Quote Originally Posted by gsi-jay View Post
    think its 5 a year your allowed to register to your self before they start questioning
    lol, funny this has come up because i have just not long meet a kiddy (mate now) who has been through about 4-5 cars in the 5-6months i've none him
    his mad, i keep telling him the dvla will soon start asking questions.

    P.s his now looking for another car (gets bored quick he says LOL)

  5. #5
    azi
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    it is 5 a year then you have to infrom dvla so they can tax ur eyeballs out

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    K3FUS's Avatar
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    Don't forget income tax, the tax man won't!
    Tell me what you've done, not what you're going to!

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    dannysport18's Avatar
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    in work one of out Drivers buys lots of cars an sells them an is never the owner of them

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    bigstring's Avatar
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    dont put your self as the reg'd keeper like I do, have sold 6 cars this year, anmd sorted 4 mates out so far........ all in the name of money and the celica, a new holiday........ and a few otehr bits...

    If you do have to, stick them in your partners name, dads name, but at the end of the day it's more owners on the log book, and waiting...... for the dvla.............................

    easy money if you know where to look, and have the money / time to invest....... plus like cleaning and servicing cars...
    Celica T-Sport , Audi S3 , scania r series

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    Ryan_Fisher's Avatar
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    at the end of the day whether you register as a dealer or not, or put them in your name or not, any profit you make will have to be declared to HMRC. By becoming a dealer i only stops HMRC going to dvla and saying who has had more than X amount of cars in a year and they will investigate whether your are making money or not. But if you register as a dealer they will just look it up on there system see you are a registered business, see you are making money, paying tax etc, and prob wont investigate. Therefore, if you are planning to do any sort of "dealing" it would make sense to register so if HMRC look into it they see you are a dealer and do not investigate, hence you can declare some and not others and make a bit of cash on the side. rather than not becoming a dealer they see you (or your direct family dont forget) have had 6 cars in a year and will investigate to monmey coming and going out.

    Hope this helps, if it makes sense that is!!

    Apologies for long post.

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