trade vet

Scum magnet......outstanding trade jargon Andy

I think we are being conned.....I don’t think you are in the trade.

Hi Mark Thats what I thought,this story is true.Our regd office is our house and we do have an office.At the time it was a busy office,faxing finance docs and invoices,paying for stock,faxing CHAPS transfers,anything financial.The car which was driven by my wife did small mileage which was all business use and ( knowing HMRC) we made sure it was never used after 5.HMRC wanted to know about typical daily journeys and said there must be a time when private use occurs.I made the big mistake of telling them that on a Wednesday my wife would collect her elderly mother who lives 200 yards from us and drop her at the post office to collect her pension.She would then carry on to do the banking using the normal route.On the way back she would collect her mother etc.So the route to the bank never changed......The result,the nice people at HMRC deemed it private use of a company car,went back 4 or 5 years and we got a large bill.....A while later I was telling a senior HMRC guy I knew about the episode and he found it hilarious.!

Non runner creation apparently can be very lucrative.I knew a guy who was in cahoots with a repo man down London somewhere.Most of the repos were horrible and they were all taken to the block.However,every now and then there might be something big and juicy and retailable but when it went through the block.......you can guess the rest........I have to point out,I was not involved !

Good luck with that Justin.Travelling to and from work is private use.Its all about the ‘availability’ of private use......they could do you ..plus interest ,plus a penalty based on the degree of negligence or culpability I think they call it.

I used to do well buying non runners at the block.If there was strong bidding from the off,it usually meant there was little wrong or they had been doctored.......Would not recomend doing that these days.!

Pool car./pooled car........I don’t think so.It must be availible to all employees and left on the business premises overnight.Technically every journey must be logged.I think it would be easy for HMRC to catch you out and then they go back years.A similar thing happened to us and we got a big bill from HMRC.

The drivers brain needs resetting.

Merry Christmas everyone.......remember when the punters were like this......not a chucky duffer in sight.

I know a guy with a big pitch who lives in a nice neighbourhood with the best house in the street.No X5 or RR sport crap for him,he uses the recovery truck ( it’s a good one) and parks it on his drive.Mind you,I think he does this on purpose to annoy his next door neighbour who is a pain having attained the status of president of a local golf club.

So it is a criminal offence !

Sounds good.I know a guy who is a subcontract buyer.He travels 800 miles a week in his personal car to auctions all over the place and charges a mileage allowance.Of course when I was doing that my accountant never told me about it.

I see,so your new car is personal or PCP lease.

If you are doing 10k business miles ( probably 14000 in total ) in your personal car and charging the company accordingly why would you want to sell the car to the company.You are still going to need to buy another car to keep that up.I would think HMRC would also want to see from your personal bank statements that you had not only bought fuel but had also paid for insurance, road tax,servicing and other maintenance costs out of your personal bank account.You can’t hoodwink these guys and you will find that even if you make a mistake they will not buy it.

Did you not refuse £400 profit on it from someone on here.Then I think someone else was advising it would ‘waltz out’ for 2 grand profit,you have got to laugh......stick to what you are good at Mr C.

Great product placement,Lovely venue for showing off a Primark £12.99 frock.

No,just follow the guidence from the guys and keep us informed if you get notice of proceedings.

I have to say that if you have never taken a 2 grand hit for whatever reason in 10 years of retailing,you have had a charmed existence.

FCA Regs.That’s void deal and full refund territory when the customer defaults,gets repossessed and then takes advice,so good luck with that.

And you can’t pass it on to your customer as an arrangement fee.

Tony,on your own admission you have been a dealer for 10 years,so you are considered to be a proffessional.I have to say ‘what have you been doing’,you must know that ‘protecting the down side ‘is an important requirement of the job.You appear to have failed at the point of sale and when the customer first complained, how and when did you reply.The judge will focus on such things.....You can’t expect a lot of sympathy from us guys.Also it’s 2 grand,what is the biggest hit you have taken so far.

What you have missed out....traders don’t like giving other traders profit !

It is very difficult these days for small traders to do any good selling at the block on a trade entry ticket.Apart from the prohibitive charges,the trade won’t bid unless it is for nothing so you are basically chasing a private punter.Then to have a half chance,the car has to be mint and you need a prime slot ( that arrangement with the yard manager usually costs money ).Then you need a ‘friendly’ auctioneer who will try hard ( that also costs money and extra money if he does well).Also,you may only be allowed 3 sale entries and they might kick it out.That is why there are very few traders earning money selling at the block.

BHM......He will never come on here now !

That is all part of your defence.Also how much did the abortive trip to collect/inspect it cost you prior to the struck out hearing.