Chadatious 0 Posted December 13, 2011 just wondering i cant be prosecuted for haveing a few bikes in my name come and go for example.had a virago 535 in my name, broke it, got my car and bike, had a cbr125 in my name that i sold as got my car.and now been offerd a scooter to fix and sell or break.im not breaking the law just doing it by selling stuff on ebay and having a few bikes come and go in my name as im lookin at doing it more for abit of an income seeing as i cant get a job at the min. plus something to do? Share this post Link to post Share on other sites
Ashleypayne 0 Posted December 13, 2011 Not that I know of, my dad use to get cars round fix them up and get rid of them nothing was ever done to him, best bet is to go down sheppey police station tomorrow or something and just ask about it Share this post Link to post Share on other sites
Kenb 0 Posted December 13, 2011 You are running a business therefore must inform HMRC so they can tax you lol.Don't forget to inform DVLA of vehicle ownership changes or they might be on your case. Share this post Link to post Share on other sites
Ashleypayne 0 Posted December 13, 2011 Theres your answer Chad lol. Share this post Link to post Share on other sites
Chadatious 0 Posted December 13, 2011 Okay spoke to mum, she said put so much away, keep records, and get a yearly tax form. Is that correct Share this post Link to post Share on other sites
smilinjack 0 Posted December 13, 2011 Yes it's cool Chad-I've got a fair few vehicles in my name and I've scrapped several as well. However, if you break one inform DVLA once it's permanently scrapped so they can record the fact and you will no longer be responsible for tax/insurance/SORN. You may find that less easy with the new red V5 as I think you have to use a registered vehicle dismantler. There's no option to report a vehicle as personally scrapped/dismantled. Share this post Link to post Share on other sites
Kenb 0 Posted December 13, 2011 @Chadatious wrote:Okay spoke to mum, she said put so much away, keep records, and get a yearly tax form. Is that correct Chad if its a hobby its not a business, I was winding you up. It is good practice to keep accurate records. You won't reach your personal allowance £7,475 so no TAX/NI to pay. Share this post Link to post Share on other sites
Chadatious 0 Posted December 13, 2011 @Kenb wrote:@Chadatious wrote:Okay spoke to mum, she said put so much away, keep records, and get a yearly tax form. Is that correct Chad if its a hobby its not a business, I was winding you up. It is good practice to keep accurate records. You won't reach your personal allowance £7,475 so no TAX/NI to pay. Yeh records are for sure, and Nah no where near that so I don't have to claim it then? I'll just keep records. I see it as learning and gaining abit of cash in the run Share this post Link to post Share on other sites
Kenb 0 Posted December 13, 2011 http://www.moneymagpie.com/article/making-extra-money-do-i-have-to-pay-extra-tax#ebay Share this post Link to post Share on other sites
Chadatious 0 Posted December 13, 2011 Ahh so no need to tell them unless its more. But when o get a job will probably need to pay tax Share this post Link to post Share on other sites
