V5C section 9 - part time motor trade

[carents]

If you are a part time motor trader, and running it from home, so no business name/address. Can you still fill in section 9 of V5C?

If not, than whats the best way to keep things legal while flipping cars for some extra bucks?

[Keeping you have valid motor trade insurance so no problem from that side, also not worried about Tax or MOT, as will only be buying cars with valid MOT and Tax]

 

[carents]

bump!

Any part-time motor trader out there?

 

[frenchparts]

are you doing this legit or just on the side for cash?

if you are doing it legit and self employed then you could still fill in section 9, you would just put ?????? cars, and then your home address

however this can open a mine field for you, as you may get a visit from the council regarding trading from home depending on your local council, and also read up on SOGA regulations etc if your not already famillier with it

if its LTD co you put the LTD co name and address

if its just for cash then you don't have a choice but to fill it in as any private buyer, unless you can let the previous owner let you have the full v5c and you just leave them with a receipt saying your responsible for the car etc! not worth the paper its written/printed on however so a lot would not let you do this

 

[carents]

Just want to do on side for cash, but want to keep everything legal too. Don't want to scare away seller/buyer.

 

[arcon5]

Just put your home address & your name. Nothing wrong in this, many sole trader tradesmen just operate under their own name.

As for keeping it legal and taking cash:
- keep accurate records of transactions
- register as self-employed to submit a tax return at year end
- ensure you are aware of your obligations under consumer protection legislation as a business

- ensure you have adequate insurance to cover test drives (or take steps to ensure potential customers are insured to drive it) and transporting vehicles.
- if kept on a public road there are other implications regarding insurance & tax, but seems you've got part of this covered.

If you sell enough to require you to register for VAT then there are other aspects to be aware of which may not be relevant in your case, such as the margin scheme.