Trade licence plates are number plates you can use on vehicles your business has for things like selling, repairing or testing. If you display trade licence plates on any vehicle, your employees and customers can drive the vehicle for certain purposes without having to pay to register and tax it.
Any job that involves buying and selling vehicles, transporting them as a business (e.g. recovery operators, vehicle transporters taking cars to and from showrooms etc.), servicing them or repairing them, is a motor trade business.
Download and complete form VTL301. You need to have motor trade insurance, and provide a copy of your Motor Trade Insurance Certificate with the form. If you have a different type of insurance, your application will not be approved. The name on your insurance certificate must match the name on the application form.
A trade license is a document/certificate that gives permission to the applicant (person seeking to open a business) to commence a particular trade or business in a particular area/location. The Municipal Corporation of the state issues the trade license to the applicants.
In summary, Motor Trade policies are designed for you to operate your business, and to allow you to drive your own vehicles and customers' vehicles, but you can't just drive the vehicles belonging to your friends or family members if they are not on the policy.
Starting out. Often when people picture a business in the motor trade, they think of a large premises with a forecourt full of cars, multiple employees and a constant flow of customers. The truth is that just having one car for sale could technically class you as a trader.
Although giving an exact premium with no details is almost impossible, we can tell you our road risk policies start from: Third Party £318* What does this cover. Third Party Fire and Theft £382* What does this cover. Fully Comprehensive £477* What does this cover.
Buying and selling vehicles from home can be a rewarding business. But how many cars do you need to sell before you need a motor trader insurance policy? The answer is simple – as soon as you start buying and selling vehicles to make a profit, you need to consider a part-time traders insurance policy.
If you're looking to trade from your home there's also a few things to keep in mind: Do you have enough space on your property to store the vehicles safely. Check with your local council that you can legally sell vehicles from your property.
Dealer group bosses we spoke to said gross profit on new cars ranged between five and seven per cent. The used car market is a lot stronger with profit margins for dealers around 12 to 15 per cent. David Kendrick, partner and accountancy UHY Hacker Young, said the figures dealers quoted to Car Dealer are accurate.
What are trading licence plates or otherwise known as trading plates? This method is the ability to drive almost any vehicle, as long as it is pre-registered, for a short period of time without paying tax on the vehicle.
What is the difference between a dealer and a trader?
While a dealer buys or sells securities as a part of a business, making this an integral part of their business activities, the traders merely buy or sell securities and assets from their own accounts and this is not done as a part of any business activities.
Driving an uninsured vehicle without insurance held by yourself as a third party which covers that vehicle while insured by the owner, is against the law. Lastly and an important note, the vehicle you drive should be for the purpose of your motor trade business.
You can ask a trader to show you a recent independent check on the finance and other history such as Hpi or similar. You should always check a vehicle carefully and test drive it before purchasing, testing to check if it drives smoothly and feels fault free.
What is the difference between motor fleet and motor trade?
Motor fleet insurance makes it easy to keep your branded vans, company cars and mopeds up to speed with compulsory insurance, while motor trader insurance gives dealers, body repairers and mechanics control of the wheel of their customers, all without skimping on the protection.
A trading certificate is a certificate issued by the registrar of companies to a public company without which the company may not do business or exercise borrowing powers or otherwise incur liability for itself and its officers to a fine.
Any establishment or business would require a license to operate. Hence it is mandatory to secure a trade license for a particular business. The state government usually issues trade License. Any individual having a trade license can carry out the operations of a business without any disruptions.
