Stephen

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About Stephen

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    Advanced Member

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  • Gender Female
  • Your industry Independent dealer
  1. So true wouldn’t like to even think how much worse off I would be without it But in time hopefully can contribute to helping others probably about 2074 so wouldn’t be holding breath research local area and see what selling where, I’ve realised that where I am I can’t compete with other traders so having to list them with different post code otherwise I’ve got no chance good luck but go for it start small And build stock, it’s far better if you don’t need to take money monthly to pay bills that would scare me at minute
  2. dependswhat you are wanting to sell and what money you have available I’ve been doing it now for 6/7 month from the door and it’s really hard people definitely prefer a unit and had some decent stock that I couldn’t give away. I think realistically I need to be 1-3k cars no higher. Sourcing cars well good cars is the issue and it’s not easy, but I’m doing it when I get time so really just learning the trade a bit and hope you have the background so go for it worst case it doesn’t work cash the cars in and move on. listen to advice on here tho don’t think I can fault a single person, never been in an industry before where everyone is so helpful to basically the competition good luck but have a go or you will regret it
  3. Sorry that's me but your right haven't been to block in months pointless id say
  4. Made my morning :)

  5. Self Admin Warranty

    You can accrual it but would have to release if after the warranty period has expired. Other things like heating repairs can be accrued for 6 years plus current year and only need to be released when the business ceases to trader from what I can gather, hence why I pay an accountant, they massively reduce tax bill legally of course
  6. Self Admin Warranty

    Not sure on this would have to check but an accrual is a cost so it would also reduce vat bill, in theory each car is costing you x amount to but x amount to prep, repair etc. So the £50/£100 a car would be a cost They are accrued incase it happens. So you don't pay corporation tax on them till you take them out of being an accrual. I accrue for various things that ie heatings a bit dodgy and will need replacing or repairing so accrual £350 a month, run a van so accrue £75 a month for service, repairs. Its commom practice reduces monthly profit and when you do have to reapir heating you've saved enough to not worry about it. I accrue £650 a month for accountant and book keeping, so I know exactly my fixed costs monthly and never get bills that worry me
  7. Self Admin Warranty

    So if you remove it from balance sheet, but have the unexpected bill in that month aswell there wont be issue with tax as you have the bill to put in accounts
  8. Self Admin Warranty

    Yes if you move it from an accrual, the tax man will want his share but ive got accruals going on for 5 years or more and never had a problem if they are genuine accruals. I tend to sometime use some of it if for instance you get an unexpected big bill. Then it doesn't affect me really like it would if I didn't have accruals. Why give the tax man it if you don't have to, Just my thoughts currently sitting on about 50k of accruals, stock devaluation, slow moving stock, van repairs etc
  9. Self Admin Warranty

    If you put it down as an accrual in your accounts it will also come off tax bill and you can build it up for years and tax Mam can’t get hands on it
  10. Volvo V50 2.0D and a load of fault codes

    Just drop it at mine might aswell put it next to me collection lol
  11. Abusive enquiries

    I’m certainly not either lol guess it’s convenience, realistically I get probably 75% of e mails that are a waste of time but do get some nice deals of a few so always worth a reply to an e rent I guess
  12. Abusive enquiries

    Got to say when I bought me van I e mailed the dealer variousquestions before I went to view and buy as it was convenient to me. Sometimes you don’t have the time when your at work to make a phone call and e mail is easier.
  13. Cant do that with da they check the vat number out
  14. Car Sales Premises?

    Big dealers are doing massive amounts of mobility cars and selling new subsidised cars,think I’d definately stay where you are