* Warning * Werthers log book theft !

[0630154]

So we're back to personal again paul , since mine as you are obviously referring to was brought to my attention I have put everone in the picture regarding identity of a log book and mine only being a simple old sport , but sport or not the car will speak for its self when it comes out this year .

But thanks for your input on the matter paul , and your last post there .

[NORTH YORKS RS SPARES]

So we're back to personal again paul , since mine as you are obviously referring to was brought to my attention I have put everone in the picture regarding identity of a log book and mine only being a simple old sport , but sport or not the car will speak for its self when it comes out this year .

But thanks for your input on the matter paul , and your last post there .

Sorry Alex you have lost me regards your car ???

[RS2000CUSTOM]

Car traders are not supposed to put the cars in there name if they intend on selling them , Hence why there is a correct trader section that informs DVLA that the trader has it but doesnt actually put the car into there name

Absolutely correct

But you like I are registered business's and as such any vehicle "put into trade" should appear on your company asset register and be liable for income tax and VAT if applicable

Any personally owned vehicle are not liable for income tax

So traders have to decide is a car "private" and no tax so therefore a new owner on log book or "trade" and subject to income tax with no added registered keeper.

My guess is "traders" dont register the car in their name but also dont put the car on their companies asset register either - sell it then pay no tax on the future sale and keep the previous owners low.

And dont forget the Bedroom Traders who dont pay tax on anything and dont add their names to any vehicles passed through their hands !

[NORTH YORKS RS SPARES]

Absolutely correct

But you like I are registered business's and as such any vehicle "put into trade" will appear on your company asset register and be liable for income tax and VAT if applicable

Any personally owned vehicle are not liable for income tax

So traders have to decide is a car "private" and no tax so therefore a new owner on log book or "trade" and subject to income tax with no added registered keeper.

My guess is "traders" dont register the car in their name but also dont put the car on their companies asset register - sell it then pay no tax on the future sale and keep the previous owners low.

And dont forget the Bedroom Traders who dont pay tax on anything and dont add their names to any vehicles passed through their hands !

Couldnt agree more ,

As werthers was a private vehicle to me it was registered in my name , hence why the police wish to talk to me regards this logbook atempted theft , to try and trace the last few legit owners

But remember that these traders who fill in the trade section and keep it as a " private " owned vehicle leave themself wide open in a tax or VAT inspection should come there way as the tax man can check every car a trader has had in there name or listed as a company purchase or as a private car , and if you have filled in the trade section then sold it on as a private sale and paid no tax then your caught

I went through an 18 month investigation myself last year and luckily everything was in order

[RS2000CUSTOM]

One fault in DVLA's "Trader section" is that if a car is passed between Traders there is no notification system in place so DVLA can keep track of a vehicle as there is only 1 Trader slip per V5.

[NORTH YORKS RS SPARES]

One fault in DVLA's "Trader section" is that if a car is passed between Traders there is no notification system in place so DVLA can keep track of a vehicle as there is only 1 Trader slip per V5.

I questioned this myself with DVLA , there answer was ,,

If both traders use ther MID correctly the vehicle will show as being moved from one traders MID to anothers and so automaticly informs DVLA

Thats ok if both traders use MID correctly . I always use mine so this always covers my arse as DVLA know i have moved the car on regardless of any form on notification being recieved through the post etc , Its a great insurance policy for a motor trader against fines for none notifications

[thedman]

In my family business, any car we have that we have acquired is insured on our fleet policy, so there is an auditable trail there for what is held against the business also.

[RS2000CUSTOM]

MID is only needed when a vehicle is used on the public highway

Keep a vehicle off the road and never drive and never insure it then MID is not needed

[FoMoCo]

A v5 is not proof of ownership.


cheeRS Gary...

[NORTH YORKS RS SPARES]

MID is only needed when a vehicle is used on the public highway

Keep a vehicle off the road and never drive and never insure it then MID is not needed

If any vehicle is in your custody or control it is required to be on your MID

Otherwise the car will be deemed as " not insured " as no private owner has this vehicle covered so will show as uninsured , Hence why the MID databse is a legal requirment with all motortraders , this way they know if its in the custody or control of a motor trader and shows on there MID then it is infact insured

This is now how they can send out notifications to people who own cars that are not insured / marked as sorned

[RS2000CUSTOM]

A vehicle that is currently Taxed has to be insured - an untaxed vehicle does not have to be insured (obviously not on the road)

MID is only for "insured" vehicles

[RS2000CUSTOM]

A v5 is not proof of ownership.


cheeRS Gary...

But it is proof of the registered keeper

So sell a vehicle and the "title" goes with it

If you sell a vehicle on behalf of a 3rd party then you are a "trader" and as such you are liable for tax

[NORTH YORKS RS SPARES]

A vehicle that is currently Taxed has to be insured - an untaxed vehicle does not have to be insured

MID is only for "insured" vehicles

MID is supposed to inform DVLA / police etc of all vehicles

I have vehicles that are not taxed etc on my MID so they are covered by my traders poilicy , if there not on my MID there not covered , road legal or not

Obvioulsy if you dont want it insured then i quess you dont need to bother , but then again it is a legal requirment for a motor trader to list all cars in the custody on MID , So the small print on my policy states , so thats exactly what i do

My rs2000 is listed on my MID and hasnt been taxed for 10years , but i was clearly told it MUST be on there to be insured

[FoMoCo]

Yes normally. but no sale here only a v5 application.

cheeRS Gary...

[RS2000CUSTOM]

My RS2000 SKC 477T is currently "laid-up"

It is not taxed or MOT'd

Is there a legal requirement to insure it ? NO there is not