bangna63 5 Posted September 25, 2014 I am still in a full time job and doing some deals from home on cars I have done up. At what point am I obliged to register as a dealer in any official capacity, say the HM revenue authorities? I guess I should be declaring any profit on a tax return anyway, but if I up the ante and start doing more cars, where do I stand? Ultimately if I can convince myself I could do it full-time I would pack in my job and go for it. Any advice or websites I should look at? 1 Share this post Link to post Share on other sites
James Baggott 227 Posted September 25, 2014 Welcome to the forum. Thanks for your post. I'm sure the dealers here will have some advice for you on this. 1 Share this post Link to post Share on other sites
Gavin@Rousdon 137 Posted September 27, 2014 You become a dealer when you buy a vehicle with the aim to sell it on for a gain. I sure HMRC etc have software to scan adverts for phones numbers which come up frequently in adverts. The biggest danger is falling foul of the Sale of Goods Act (or whatever its know as now) and been caught advertising as a private buyer. Profits should be declared on a tax return but the chances of the taxman catching up with you if you don't range from very unlikely too highly likely !!! 1 Share this post Link to post Share on other sites
James Baggott 227 Posted September 27, 2014 Also dealers have to legally offer a warranty on the cars they sell. Do you? Share this post Link to post Share on other sites
bangna63 5 Posted September 28, 2014 Thanks for the input guys. I have only done a few cars and all in this tax year so no' crimes' so far. I think at such small volumes/profits so far there is no big deal in declaring it all as is required. I was wondering if 'dealer' had some special definition. I was not aware of the warranty offer requirement so I'll look into that. I have always told purchasers I was trading. Clearly I need to update myself on all this, many years since I last did it and things have obviously changed quite a bit and I want to make sure I am doing it properly before going any further, hence the questions. Where is the best source to bring myself up to date on all aspects of this? Great site by the way, really helpful and supportive. Share this post Link to post Share on other sites
James Baggott 227 Posted September 29, 2014 Best way of keeping up to date would be to subscribe to the industry's leading motor trade magazine - and recent Best Business Publication Award Winner - Car Dealer... You can subscribe here where you also get the benefits of being a member of Car Dealer Club like free legal advice - which you could use to ask the very questions you have here about what to do when you start up. Membership is £39.99 a year and you get a copy of the mag every month and lots of other benefits too. www.CarDealerClub.com Share this post Link to post Share on other sites
Wheelerdealer1 91 Posted September 29, 2014 Agree with James, get the mag asap, all the info you need along with companies to help all there, can't reccomend it enough ! Share this post Link to post Share on other sites
GreenGiant 287 Posted September 30, 2014 Also dealers have to legally offer a warranty on the cars they sell. Do you? Unless you happen to be BCA of course... Share this post Link to post Share on other sites
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