Do I need insurance to park on the road as a limited company trading from home

[GeeMan 1]

I have started as limited trading in cars. I usually have road tax to park on the road. As a limited company registered to trade in car, do I require car insurance to park on the road? Need some advise please. Thank you 

[Casper 272]

Yes you cant park any car on the main road/ public street without insurance regardless or car dealer private etc  

[MarkTVS 209]

You also need permission from your local authority 

[GeeMan 1]

When are you exempted from the continuous insurance as a trader then? Thank you

[Casper 272]

16 minutes ago, GeeMan said:When are you exempted from the continuous insurance as a trader then? Thank you

With the correct motor trade insurance you can add cars you own for personal use or  have for sale on the Mid database  .

 

22 minutes ago, MarkTVS said:

You also need permission from your local authority 

Also Mark is 100 % correct i agree fully with him 

[GeeMan 1]

Thank you guys

Does motor trade insurance allow parking on the street then?

And do I need both trade plate and motor trade insurance? What is the difference. Thank you

[D&M 66]

This will help you out.

 

[David Horgan 564]

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 .

3 minutes ago, Mark101 said:

Really?

 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 

Edited December 22, 2019 by David Horgan

[Casper 272]

45 minutes ago, David Horgan said:

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 

Just like david said basically insurance and tax are seperate 

trade plates cover tax for test drives etc to park on the street overnight on a main council owned road etc you need tax on the car insurance motortrade would cover for both trade and private  

would recommend in your circumstances to always add the car to the database . 

Edited December 22, 2019 by Casper

[twerp 69]

I assume you will be buying RFL for all your cars in trade 

 

Good luck with your neighbours 

[Arfur Dealy 823]

9 hours ago, GeeMan said:

Thank you guys

Does motor trade insurance allow parking on the street then?

And do I need both trade plate and motor trade insurance? What is the difference. Thank you

As a trader, you can not park a car advertised for sale on the road unless it is taxed, also you cannot park two cars together, there has to be a gap of 500 or 750 metres (something like that). 

Your insurance company will require a postcode to base the premium on. If Your intent is to park them in multiple areas you will need to tell them, most insurers will then decline.

9 hours ago, GeeMan said:

 

[David Ayers 171]

13 hours ago, Arfur Dealy said:

As a trader, you can not park a car advertised for sale on the road unless it is taxed, also you cannot park two cars together, there has to be a gap of 500 or 750 metres (something like that). 

Furthermore a car needs to be taxed/insured if it is parked in a public car park, a lay by, pub car park etc.

[GeeMan 1]

Thank you all for your response and advice. Very much appreciated. More to learn as want to do this part time/hobby. Thank u all

[GeeMan 1]

What sites are beat for advertising and selling used cars. Thank you

Best not beat

[David Horgan 564]

56 minutes ago, GeeMan said:

What sites are beat for advertising and selling used cars. Thank you

Best not beat

Depends what your selling and how much you want to spend , Ebay for scrap , Ebay pro for better stuff , Ebay/ motors if your more serious , Autotrader will sell most stuff  , Car Gurus will sell some stuff not others .

Prices range from a few 100 £ to eye watering Costs for Autotrader , depends how brave you are , how committed you are , how many you have in stock , do you go pay as you go , or have a portal , prices vary with which system you choose , results vary depending on your stock type and price range .

Confused  , Its a mine field My friend 

[Casper 272]

1 hour ago, GeeMan said:

What sites are beat for advertising and selling used cars. Thank you

Best not beat

Autotrader i would suggest others are out here but always did ok with autotrader local paper etc was a waste of time and money