Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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As above.. phoned my insurance today (adrian flux) to change over my insurance to the saxo.. As usual they took forever to answer the phone then they had the cheek to ask me why im changing my car again. I just told her because I'd sold the current one.
Then... she comes back after another 10 minutes of being on hold to say they suspect that i'm a trader. I'm not but I do have a fair few cars... anyway they've changed my cover over for now and I'll be cancelling it at the end of the month after I have my proof of no claims through.
Summary: Can they do anything i.e report me to dvla because they think I'm trading?
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Jules
Member
Registered: 26th Nov 04
Location: Ipswich, Suffolk Status: Happy
User status: Offline
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Isn't it something like 14 cars in 12 months that constitutes a trader?
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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You'll probably have to prove you're not trading, but I don't see the DVLA having anything to do with it 
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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Whats the definition of trading?
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Possibly could if they have reason for thinking you are a trader.
You pretty much are tbh, buy cheap - sell high 2 weeks later!!  
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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quote:
Originally posted by Nath
Whats the definition of trading?
Buying and selling for profit.
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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If you sell more than 4 cars in a year do you not have to declare it to someone as you are liable for tax on them?
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Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
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I rang them up yesterday and the service was shite to be honest.
Wont be ringing them again thats for sure
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by Colin
Possibly could if they have reason for thinking you are a trader.
You pretty much are tbh, buy cheap - sell high 2 weeks later!!
There all for personal use though, not had a car that ive not insured if you know what I mean.. Flux are utter shit anyway so they wont be getting my business on my renewal next month..
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by Pop
If you sell more than 4 cars in a year do you not have to declare it to someone as you are liable for tax on them?
I've had about 9 this year... lol
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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quote:
Originally posted by Kano
There all for personal use though
They don't know that for sure though.
You have to admit, you'd probably be suspicious if you were the person you spoke to....
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Hammer
Member
Registered: 11th Feb 04
User status: Offline
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Does the tax man have a note of your profits from buying and selling?
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shane_o
Member
Registered: 15th Sep 05
Location: Yeovil, Somerset
User status: Offline
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i thought it was 6 in a year personally, or so i have been told etc ...
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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There is a max. number you can buy and sell during the year before you have to register the sales for tax purposes. Not sure about for insurance purposes though.
Isnt trade insurance really cheap, as in they tend to insure you personally and not whatever the car is? So could be worth while, although no doubt then you'd have to start informing the tax people!
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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No idea why 4 stuck in my head, I'm not sure if that's the actual amount, someone will know for sure.
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Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
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quote:
Originally posted by Robin
quote:
Originally posted by Nath
Whats the definition of trading?
Buying and selling for profit.
In what quantity?
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by Hammer
Does the tax man have a note of your profits from buying and selling?
No because I dont do it for profit, just happens that I've had a few lucky sales recently.. I dont have any reciepts for the sales etc so theres no way of them proving how much they sold for..
Robin: Yes probably but I didnt see what it has to do with them, I pay my policy, I use one car at a time, it just happens that I've had a few cars...
Traders insurance is dearer thatn I'd pay for just one car like I am just now and theres no way Mr tax man is getting any money off me for what is basically a hobbie.
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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quote:
Originally posted by Kano
quote:
Originally posted by Hammer
Does the tax man have a note of your profits from buying and selling?
No because I dont do it for profit, just happens that I've had a few lucky sales recently.. I dont have any reciepts for the sales etc so theres no way of them proving how much they sold for..
Makes no difference, if you are selling more than the legal limit, even if its just personal, you have to declare any profits made.
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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quote:
Originally posted by Kano
Robin: Yes probably but I didnt see what it has to do with them, I pay my policy, I use one car at a time, it just happens that I've had a few cars...
They don't want you to be conning them out of money, working as a trader with a cheaper policy
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by Cosmo
quote:
Originally posted by Kano
quote:
Originally posted by Hammer
Does the tax man have a note of your profits from buying and selling?
No because I dont do it for profit, just happens that I've had a few lucky sales recently.. I dont have any reciepts for the sales etc so theres no way of them proving how much they sold for..
Makes no difference, if you are selling more than the legal limit, even if its just personal, you have to declare any profits made.
Thats so gay... I'll wait and see if anything comes of it...
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J100RSA
Member
Registered: 4th Mar 01
Location: Thornhill, West Yorkshire
User status: Offline
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just get a traders policy like it so much easyer and its worked out cheaper for me and all my cars
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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quote:
Originally posted by Kano
Thats so gay... I'll wait and see if anything comes of it...
Personally Id check and find out the number and start to keep receipts, etc. As if they did decide to look into you, or your tax return didnt add up they'd bum fuck you!
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by J100RSA
just get a traders policy like it so much easyer and its worked out cheaper for me and all my cars
I only have one at a time though so it would still work out a lot dearer.. I'll have a look into it but then I would have to prove to my insurance that I AM trading and declare everything to tax etc..
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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The post on your latest aquirement sounds like you only bought it to wash/service it & sell at profit......................
I dont gie a fuck how many cars you buy/sell btw..............just saying be careful as if the tax folk investigate you they will pump your arse til it bleeds!!
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