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Mar 16, 2016 21:56:23 GMT
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It's been one of them years, had one car 10 days before gearbox gave up. Had 2 mates nag me until I sold them the cars it had took me ages to find and now ex wife wants to buy the car from me I've just purchased!
How many am I "allowed" to own in a year with the dvla? I'm not a trader but get bored easy lol. I think I'm on 6 cars in past 12 months now.....
Neil
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Last Edit: Mar 16, 2016 22:05:15 GMT by neilclark
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120y
Part of things
Posts: 423 
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Mar 16, 2016 22:00:32 GMT
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Don't thin there is any limit but they may ask questions to make sure your not trading
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1996 Renault Clio MK1 1.4 RT Auto
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Mar 16, 2016 22:14:05 GMT
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ATM I have 15 cars registered to me plus a handful in trade and another half dozen that are mine on paper.
The only problem I ever had with DVLA about it was forgetting to sorn one occaisionally - when it had to be done annually, no longer a problem now.
As far as I know there is no limit to how many cars you can own in a year, or at any one time, at least as far as the DVLA is concerned. The taxman, on the other hand, might take an interest if he knew about it - but who's going to tell him?
(note, I have been told by someone who should know, if you have a car registered to you for more than 3 months, any profits arising from the sale of said car are not taxable)
Steve
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Mar 16, 2016 22:19:47 GMT
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You've been told wrong then, absolutely anything you buy to sell on and make a profit on you have to declare otherwise every dealer would hang onto stock 3 months before selling on. That includes cars, tat from a boot sale you flog on on ebay whatever, time doesn't come into it.
That's the taxmans opinion, please direct trolling and hate mail to them not me.
I wouldnt be surprised if there is some computer program at the Dvla notifying the tax people of cars being registered in trade or people with large numbers of cars regularly going into them out of their name, easy pickings to trigger an investigation and it's much easier to get a couple of grand out of a little man rather than billions from multinational companies.
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Last Edit: Mar 16, 2016 22:24:13 GMT by dodgerover
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Mar 16, 2016 22:52:46 GMT
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Had fifteen last year, dvla didn't seem to mind. Twelve of them I even wrote about on this very forum!
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Mar 16, 2016 23:21:39 GMT
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I've never found a limit, I buy stupid amounts of cars, sometimes 2-3 a month as it seems they all appear at once. I sell some when I get bored with them. Others I stash away, usually keep 3-5 on the road. Some are greatly improved in condition and value, but I spend money on them and keep receipts so hardly ever make any money on them.
I'm a collector, not a trader. I work full time and it is obvious my source of income is from my job.
Make sure you are honest, keep all your paper work in order in case questions are ever asked.
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Mar 16, 2016 23:24:36 GMT
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You've been told wrong then, absolutely anything you buy to sell on and make a profit on you have to declare otherwise every dealer would hang onto stock 3 months before selling on. That includes cars, tat from a boot sale you flog on on ebay whatever, time doesn't come into it. That's the taxmans opinion, please direct trolling and hate mail to them not me. I wouldnt be surprised if there is some computer program at the Dvla notifying the tax people of cars being registered in trade or people with large numbers of cars regularly going into them out of their name, easy pickings to trigger an investigation and it's much easier to get a couple of grand out of a little man rather than billions from multinational companies. I'm quite sure thats what the Taxman wishes to be, any chance to screw the little guy! However official traders couldn't get away with it any more than official antique dealers can and a trader will not register a car to himself, putting another keeper on the V5, it's self defeating. I bought a Volvo Amazon for £100 in 1982 and sold it for £1000 in 2013, I should have declared it? I don't think so! (In any case, I didn't make a profit since I poured thousands into that car in 30 years) There is also the matter of intent and proof. As far as your hookup theory between DVLA and HMRC goes, I wouldn't be surprised either way, on the one hand, getting reliable data from DVLA is no more than an oxymoron, on the other hand, just cos you're paranoid, it doesn't mean they're NOT out to get you! |
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Mar 17, 2016 10:16:58 GMT
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That isn't what I wrote and I seriously doubt that anybody even the taxman would try to argue buying in '82 and selling in '13 is intent to make a profit....it's more people buying then flipping on on Facebook for a few £100 a time. The problem would be trying to prove a negative (ie you aren't trading) if you have a history of keeping cars for a few weeks year in year out. On the positive side if you did declare the amazon it would go down as a trading loss and probably mean you didn't pay tax for the next few years  |
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Mar 17, 2016 12:35:04 GMT
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You've been told wrong then, absolutely anything you buy to sell on and make a profit on you have to declare otherwise every dealer would hang onto stock 3 months before selling on. That includes cars, tat from a boot sale you flog on on ebay whatever, time doesn't come into it. That's the taxmans opinion, please direct trolling and hate mail to them not me. I wouldnt be surprised if there is some computer program at the Dvla notifying the tax people of cars being registered in trade or people with large numbers of cars regularly going into them out of their name, easy pickings to trigger an investigation and it's much easier to get a couple of grand out of a little man rather than billions from multinational companies. I'm quite sure thats what the Taxman wishes to be, any chance to screw the little guy! However official traders couldn't get away with it any more than official antique dealers can and a trader will not register a car to himself, putting another keeper on the V5, it's self defeating. I bought a Volvo Amazon for £100 in 1982 and sold it for £1000 in 2013, I should have declared it? I don't think so! (In any case, I didn't make a profit since I poured thousands into that car in 30 years) There is also the matter of intent and proof.  As far as your hookup theory between DVLA and HMRC goes, I wouldn't be surprised either way, on the one hand, getting reliable data from DVLA is no more than an oxymoron, on the other hand, just cos you're paranoid, it doesn't mean they're NOT out to get you! You missed the bit where he said direct hare mail to tax office then |
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Mar 17, 2016 12:37:45 GMT
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without a paper trail tax man cant do curse word, an ebay auction end price doesnt necessarily mean it actually went for that much and how can he prove how much you paid originally. so it wouldnt be worth his time. no limit as far as i know but if you have a premises for buying selling and books holding records of sales then its a different story. personal use is personal use.. let him try and prove you otherwise.
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84 mazda 323 gt (twr) b6t engine
85 mazda rx7 s3 12a
90 mazda 323 estate
90 mazda 323 estate (for the mrs ;-) )
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dvla aren't bothered how many cars you have
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Mar 22, 2016 19:24:20 GMT
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Its not down to the tax man to prove you ARE trading its down to you to prove you are not trading once they have an interest in you and if the dvla have 12 cars in a year coming through your hands on there records and you only have one or two in your possession now, if you have made a profit on the other ten you will owe money to the man.
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Mar 22, 2016 20:03:15 GMT
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As said Innocent until proved guilty does apply with them or customs etc.....
Keep yourself a paper trail of everything if there is even the slightest chance that you could be thought of as trading - upset the neighbours lately by having a couple of cars on the street, working on cars in the drive? They could be the ones reporting you...
I have to point out I'm self employed and maybe just slightly paranoid having watched friends go through investigations with hmrc going through their kids bank accounts, PayPal and ebay sales and them having to explain where all payments have come from etc, in the end it cost them nearly as much with accountants etc to prove they had nothing to hide as it would have just to have made a one off payment as a settlement.
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Last Edit: Mar 22, 2016 20:31:32 GMT by dodgerover
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Mar 22, 2016 20:17:14 GMT
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The op's question was 'how many cars am I allowed with the dvla'
Answer is, as many as you like, where did the taxman come into it?
He didn't & does'nt.
If the question had been 'how many am I allowed with the taxman' then that's another story.
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Mar 22, 2016 20:27:56 GMT
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I saw a thing the other day about what the taxman regards as trading. Unfortunately I can't remember where I saw it!
Basically though, it boils down to regularity. If you buy and sell stuff on a regular basis the Inland Revenue regard it as trading and will want to tax your profit. If you clear out your loft occasionally and sell a few bits on eBay or at a boot sale they are not interested. They also look at the time between buying something and selling it again. The shorter that time period is, the more likely it is they will assume you bought it with the intention of selling it on for a profit.
So if you buy and sell cars on a regular basis, ie more often than the average bod, make sure you keep records. What you paid for each car, what you spent on it, and what you sold it for. If you can prove you haven't made a profit and cars are just a hobby, you should be safe from a tax bill.
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Mar 22, 2016 20:49:37 GMT
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I saw a thing the other day about what the taxman regards as trading. Unfortunately I can't remember where I saw it! Basically though, it boils down to regularity. If you buy and sell stuff on a regular basis the Inland Revenue regard it as trading and will want to tax your profit. If you clear out your loft occasionally and sell a few bits on eBay or at a boot sale they are not interested. They also look at the time between buying something and selling it again. The shorter that time period is, the more likely it is they will assume you bought it with the intention of selling it on for a profit. So if you buy and sell cars on a regular basis, ie more often than the average bod, make sure you keep records. What you paid for each car, what you spent on it, and what you sold it for. If you can prove you haven't made a profit and cars are just a hobby, you should be safe from a tax bill. Again nothing to do with the question asked |
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Mar 22, 2016 21:05:58 GMT
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The op's question was 'how many cars am I allowed with the dvla' Answer is, as many as you like, where did the taxman come into it? He didn't & does'nt. If the question had been 'how many am I allowed with the taxman' then that's another story. When the OP said I'm not a trader? Obviously he is keen to make sure this is the case no? |
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Mar 22, 2016 21:20:06 GMT
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The original question about the DVLA implied that the OP has concerns about how the authorities might view his car buying activities.
The answer, of course, is that the DVLA is not bothered. But the taxman may well take an interest. Maybe the OP had not considered this possibility and the posts about potential tax issues are intended as helpful advice regarding the OP's concerns.
When someone includes the words "I'm not a trader but..." in their post, I would say discussion about the Inland Revenue is very relevent!
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I know it's not on topic but in reply to people regarding the taxman, remember the v5 clearly states the registered keeper is only responsible for the car, not the owner.
The tax man would have to prove who sold the car which wouldn't necicerrily be the registered keeper.
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