Trade plates are a system of tax for the car you are using for trade purposes , eg taking for repair , testing the car , test drives , use in business purposes
They cost £165 a year , you will only get trade plates with proof of trade insurance though .
When you get trade plates you then put that trade plate number on your insurance MID then that trade plate is proof of insurance and tax for the car car its displayed in .
Simples really .
Your question about insurance to park on street is yes you need it , You would need to TAX the car as well , trade plates will not cover street parking for extended periods like overnight .
Doesnt matter either if you are a LTD company or sole trader as that has diddly squat to do with anything .
Mark .
Makes you think about the serious stuff they will get thrown at them doesn't it , My god wait till the VAT margin system sinks home