Mark101

My last proper bike was a GSXR1000, before that an R1 - now I have got a Vespa 125. I am not a very good rider to be honest, so didn't get the best out biking - plus I looked like Shamu when I put my leathers on.

Ring HMRC and explain your situation, they will guide you.

I would be happy to see a punter

The simple answer is. You have to declare all income so that means from day 1. No one can answer whether you will make enough to go full time or not other than yourself.

I was going to say temp sensor early on in this post, it seems the obvious shout but, you saying this has jogged something in my memory about the engine going in to a fail safe mode - i.e constant running of the fan. Re: flat battery: Mercs (plus a few others) seem to go the other way with battery health and disable anything other than essential functions unless the battery is in a good state of charge.

If it does, then I am a very enthusiastic hobbiest

I think we are agreeing Ian. In an ideal world, we would all like to “own” our stock, myself included. You talk about the glory days and it is a shame we weren’t all there to reap the rewards. Each era has its day. Our day is relatively easy funding, using someone else’s money to make our own money, which is no different to how banks make their millions. We are in fact bankers, we borrow at one price and sell at a higher price (margin). I have genuinely lost count of the millionaires I have met as customers whom have benefitted from funding their businesses 120% above their own nett worth (former job). I know I am in the wrong game to hit that success, my business has no onward or resale value unlike my former customer’s businesses where exit to a multi national is the real value. All that said, I reckon (given time) I will clear my previous salary and remain in control of when and how much I work and answer to no one but myself.

BBSOL Otherwise known as VT (Vehicle Trader). Including Sage under £500 a year. Submits VAT digitally but is only as good as the info you put in.

When I was a kid, the 6 week holidays seemed to last forever. Now holidays, summer holidays and everything else seem to fly by the older I get. Can you imagine what it must be like for @trade vet if this continues

Heated seats don't work unless engine is running on Merc, electric seat adjustment does - so you might be on to something there.

Coming from you

Lucky you - I'm 46 in December

How old are you Casper? I'm just curious, you don't have to answer but you come across as such a nice person - I'm guessing 45. As I said above, you come across as a lovely person.

Went to King Edwards and did A level Chemistry, Physics and Biology - was aiming for medical school but couldn't face another 7 or 8 years of education. Dropped/kicked out and went to work at Butlins (best thing I ever did). Started trading cars at 18 for a year, then got a job. Started again at 27 for 5 years (lost everything and ultimately went bust). Served my time and got a job of which within a couple of years became a Director, eventually becoming a board Managing Director. Had enough of the politics and bullshit, so started again last February (2018) - much older and wiser and slightly more risk adverse. On the whole I love it but it can be very, very lonely at times (when it gets tough). Luckily, I have the support of a great woman, my kids have grown up and moved out, so I have no excuses left.

Your purchase price (last column) is £1589.60. So presume you sell for £2,500 - you will owe the VAT at (£2500 - 1589.60) X (1/6) = £151.73 But you can reclaim £13 from the VAT on everything under (S) plus any other recon. Hope that helps.

I disagree. Yes the debt is shown as a liability but the stock is shown as an asset. Therefore (as in the case that Close only fund 70%), the stock value will always be higher than the liabilities.

You have been underpaying: Purchase price is hammer + buyers fee (if there is no VAT showing separately). Selling price is whatever you sell it for. Costs are recon + online fee + Surecheck + whatever else.

Sorry about you woes Noa - bloody typical. At least you are getting someone try and buy - my morning appointment didn't show but my screamer did. Now got someone else coming on a £2,500 R Class shitter with an oil leak, failed sat nav and warm aircon (all aware and listed). Plus got to collect Disco to take for a gearbox overhaul and try to get the valeter to finish a few bits. Oh and the unit next door wants me to buy their car (agreed an SOR) which I also need to do today and finally the Q7 final PDI for tomorrow's collection. Busy but not earning £££'s

EPV recommended some great Video tips to me. The Gimbal I have given up on (mind of its own) but the editing software is brilliant (Movavi).

That would finance my entire stock

No, not yet - you need to look at if for 6 months first, then paint the wheels black.

You "stand" the unsold car at whatever you allowed for it, so £7k.

I don't really understand your question but you don't use SIV to calculate VAT margin anyway. What did you actually pay for car 1 excluding recon. I.e. hammer price + fees or private price (if not an auction car). Then subtract this from your gross selling price and use that figure to calculate VAT. The PX is irrelevant and you need to calculate VAT margin on that in excatly the same way. What you sell it for less what you allowed for it when PX'd. Recon cannot be included in margin scheme.

Or just sell out at the base rate and earn no comms?

Weirdly and you have only just sparked my memory; When CG tried to sign me up, I told them I was suspicious of the leads I was receiving - unrealistic and exotic names that you would never imagine yourself unless you’re extremely creative. They agreed the names were different. Anyway, for the price - I agreed to a six month deal, which I have just cancelled. You have suddenly made me realise that I have not received any random names (that I can recall) since signing up. Coincidence?