Recent content by gary22G

  1. G

    Starting up as a motor trader - advice/conscience required

    Useful to know but I guess my big question still is what kind of markup is there (as a bit of an average / rule of thumb)? I already know that there needs to be a minimum of 30% on a £3,000 car to even break-even. Need to know what I'm working with instead of just costs. And I have no way of...
  2. G

    Starting up as a motor trader - advice/conscience required

    This is exactly what was on my mind. There's certain vehicles and engine combinations I want to target because I know their mechanicals like the back of my hand, should anything need repairing.
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    Starting up as a motor trader - advice/conscience required

    I'll take you to my final sentence: Please no crushing opinions because if you're not already in the trade, there's very little information available and it's difficult to get in. Just bear in mind all my numbers are hypothetical at the moment and I'd appreciate some input from some people with...
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    Starting up as a motor trader - advice/conscience required

    I had checked this. The VAT margin scheme applies at the normal VAT threshold of £85,000 and above. As my sales would be c.£40-50k a year, this wouldn't apply, although income tax still would if I act as a sole trader. ...not that any second hand car dealer you've used before complies with any...
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    Starting up as a motor trader - advice/conscience required

    So, I have an itch I need to scratch. I'm heavily into my cars and have always wanted to sell a few cars here and there from home. I stress this would be a much-needed source of extra income and I do have a day job. Since the pandemic, the industry seems to have become very closed and hush...
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