trade vet

If it is the same department that advised on Grenfell,I hope he gets it through before they get locked up.

I agree,also it appears it’s not cost effective for HMRC to chase these guys unless they have visible assets.I would imagine with MTD a lot of people will deregister from VAT and just carry on and be better off.

I would say incompetent,he was not a young man,part time,very part time but VAT regd buying and selling one sometimes two cheapies per week through the auction and earning little,just getting by.It was not fair and this guys heath later suffered.

You probably know more than me.

True story....I know a part time inexperienced dealer who wishes he had been a Ltd co,he was a soft target.This guy did not record a deal properly in his stock book.( one deal)He had bought and sold the car at the same auction.It appeared to me that having established he was financially comfortable,living by himself and owning his house,HMRC then took the view that he must have done this many times ( which he definateley had not ).So what happened,he was assessed for a lot of money and had to remortgage.That could not have happened if he was a Ltd company.......So self employed guys making digital imputting mistakes with MTD .....Good Luck.

Hi Gazz I appear to have beat you to it on this topic.I don’t think many people understand the implications.

AD as I understand,MTD applies to everyone.As regards incorporating or remaining self employed,with this MTD stuff I think having limited liability is worth considering more than ever for anyone running a proper business.

My accountant just explained the implications of the imminent MTD ....Making Tax Digital which I do not yet fully understand.It appears everyone is going to need the correct softwhere to comply and to daily download their income and expenditure into the HMRC cloud so it is easier for them to keep an eye on you ( I think ). It appears to me to be a bit like providing your annual accounts every 3 months plus a lot more.For thousands who are digitally challenged/illiterate ( like me ) it will be extra work at extra cost for no return.Does anyone else have any comments ( other than pack in all together).......Boring topic for most of you.

I agree,traders have a ‘duty of care’.However in BHM case,Trading Standards or whoever was prosecuting may have remote chance of winning so on financial grounds it is doubtful they would bring a case.

Good Luck Kenny Nice site,unless you have millions to invest in marketing,are you not better off keeping it local or specialised.I was just looking at Carwow results for instance,who are now getting awards for their apparent success.Last set of results show they lost £6m.Meanwhile AT are now valued at £4 billion and getting stronger.

AD...don’t get concerned about other traders making negative comments about your business model.Most of us could not replicate what you do......which clearly works.

I am not sure about that,the likes of Lloyd’s Autolease must have several hundred thousand on lease and they have to protect their residual values.Diesels may not be popular in the Home Counties but that is not the case elsewhere.

Apps,software,I have no idea except 20 years ago I had a phone extension in my office where I could press a button and listen in to our guys talking to punters.We used to call it the ‘anti gobshite monitoring system’.

Chucky......I know quite a bit about offering and earning from it.To make it work,it has to be the prime variety.The hard bit is finding out what you need to sell and how to market it in order to attract the business. In my experience the best finance companies ( not brokers) will pay differing rates of commission based on a criteria dependent on your volume of business,proposal rejection rate,no of cases that go legal and the cost of managing your account ( amount of hassle or merchandise complaints).If you can score well over a period of time,you may then be offered a volume bonus deal which can be worth a extra several hundred pounds per week and get higher with the more business you do. Interestingly if you look at the financial results of quite a few car supermarkets often their income from finance exceeds their net profits.

I was talking to a ‘connected ‘ guy last week and he appeared to confirm what we thought, that many of them pay nothing at all.Aparently the big auction groups might have contracts that guarantee vendors 95% of Cap Clean for each entry.That may appear high risk and a good deal for the vendors, but as a conspiracy theory maybe not if the auctions can control Cap prices.As most stuff now goes above Cap Clean ,it makes you wonder what is really going on.What happens to the auctions if the Cap guys wake up.

Learning to ‘blow money’ and ‘taking your medicine ‘ is all part of the job.If you have 3 cars and little space I would think 6 weeks then into the block and move on.However,when you have a pitch with a lot of stock you just gradually reduce them over time and eventually they go.Back in the 08 financial crash,it was different,people with big pitches and heavy stock were forced into taking huge hits all at once to move on so they could restock with cheaper stuff.I would imagine those who did nothing got into bother.

Hi Miz You need skill,knowledge and experience to succeed in this job.As you don’t appear to have that,I would suggest that first of all you should buy one or two low priced older cars.After you have mot’d and cleaned them,try selling them from where you live.You will need to be prepared to lose money and get regularly kicked in the teeth with problems in the first 2 years........When you have bought some stock,you could let us know.

Marc....I would say that ex NHS 14 plate Corsas with 100k would have to be £2500 to sell for a doorstepper.For a pitch,I think they would do £3000 (good for £100 dep £20 per week stock)......How much are they ?

Hi Southeast If I am looking at the right pitch in Aylesbury on AT,If it is,it looks like a half hearted operation.It does not look like a business run by a 15year pro.Stuff badly photographed next to wheelie bins,badly presented needing paintwork and who does your valeting.A lot of your stock appears cheap enough but it looks like the wrong stuff to me.You cannot skimp on paintwork and valeting and stock has to look right.The stock in the background appears not to be lined and priced up with any flair and,in which case I am not surprised Trade has declined......I would say stick to what you are doing but you may need to try harder..

Partner......sorry Dave,thought you were referring to your business partner bloke !

Dave..I would tell your mates son to forget it,you get nothing for a grand down there.I think you should get something from where you are for £1500 which will be nice and deliver it.It will be a different world down there from what you guys are used to,they don’t leave their front doors open down there.( if you know what I mean )

I think it was grey,I did not inspect it,my attention was drawn to it by the others watching the screen on the wall outside the ring.

It was £6800 hammer down so £7200 ish out the door so you may be right.

I would have thought £5k was crazy......anyone else care to value it.

You think cars are expensive.How about this,looked into BCA Newcastle this morning.In the Bristol Street section 53 Cooper S 15k one owner loads of extras,sold online with local guy underbidder in the hall,how much did it do.........