Tuesday, October 07, 2008
No problems in claiming back duty
Changes in VED refunds from January 1, 2009 won’t prevent dealers from claiming back vehicle excise duty refunds on part-exchanges.
The advice comes from Deloitte tax specialist Steve Holloway. He said: “We’ve spoken to several dealers. None of them have experienced problems in claiming back the VED.”
AM first reported on April 4 that the government planned to restrict VED refunds to registered keepers and allow them only when the vehicle had been stolen, destroyed, sold or declared SORN.
Dealers are not restricted but accountants Trevor Jones has warned that it may take up to four weeks to receive payment after a vehicle has been declared SORN.
Dealers can still use trade plates on second-hand cars
Car dealers will still be able to use trade plates on their second-hand and will not be required to register ownership of vehicles while they are on their site.
Sue Robinson, RMIF director, said: “The introduction of new rules on VED refunds in January 2009 will not prevent dealers from using trade plates on second hand stock for which they have completed a SORN. However, dealers must remember that trade plates can only be used on vehicles in their temporary possession. A vehicle registered in their name is not regarded as being in their temporary possession.”
For dealers, the main impact of the new rules will be that they will not be able to obtain VED refunds from vehicles where a SORN is in force. Instead the customer will be required to seek the refund themselves.
DATED: 07.10.08
FEED: AM
The advice comes from Deloitte tax specialist Steve Holloway. He said: “We’ve spoken to several dealers. None of them have experienced problems in claiming back the VED.”
AM first reported on April 4 that the government planned to restrict VED refunds to registered keepers and allow them only when the vehicle had been stolen, destroyed, sold or declared SORN.
Dealers are not restricted but accountants Trevor Jones has warned that it may take up to four weeks to receive payment after a vehicle has been declared SORN.
Dealers can still use trade plates on second-hand cars
Car dealers will still be able to use trade plates on their second-hand and will not be required to register ownership of vehicles while they are on their site.
Sue Robinson, RMIF director, said: “The introduction of new rules on VED refunds in January 2009 will not prevent dealers from using trade plates on second hand stock for which they have completed a SORN. However, dealers must remember that trade plates can only be used on vehicles in their temporary possession. A vehicle registered in their name is not regarded as being in their temporary possession.”
For dealers, the main impact of the new rules will be that they will not be able to obtain VED refunds from vehicles where a SORN is in force. Instead the customer will be required to seek the refund themselves.
DATED: 07.10.08
FEED: AM
