Registered Keeper and company car

[Blueskye]

So....
I know I should really ask my accountant but we’re a bit in a beef atm... (that’s a long story..) so I’ll double check with him later but for now..


How is everyone registering company cars (V5C wise..)

I am purchasing with company and the company would be the owner once finance is cleared.
But I had initially put down myself and my home address as the registered keeper for V5C ( I am on of the directors and the car will be used for business and personal).

But after reading some posts, I am thinking I am wrong and the company should be registered keeper and the address should be the registered company address?

but at the same time the car will be kept at my house overnight not at the business address (thinking insurance wise as well, since registered address and kept overnight address should be the same..)


What is everyone doing?

Are there any regulations on this or is it just preference?

 

[AnthonyLR]

I think it’s fine to put you and your home address for registered keeper. That’s what I’m doing.

 

[Newbie2EV]

The registered keeper should be you. Here you go: The Differences Between The Registered Keeper And Owner Of A Vehicle

 

[Jason71]

it's a bit of an issue
DVLA will tell you that the person who keeps the car i.e. you should be the registered keeper.
my company accountant says it should definitely be the company and HMRC would not be happy otherwise if they audited
my insurance company says if I am not the registered keeper then the premium goes up.

I have the company name, then my name then my address. I am hoping that will keep everyone happy. not an option on your survey though
if I was not able to do that then I would just have put my name. Company name is on the invoice so company owns the car. Keeper is the keeper. In the unlikely event of an audit if HMRC don't like it ill change it then

 

[Jason71]

The registered keeper should be you. Here you go: The Differences Between The Registered Keeper And Owner Of A Vehicle

not saying any of that is wrong, I agree, but that is not actually an official site in any way and you can't find that actually stated anywhere on a gov UK site. I know I looked

 

[AnthonyLR]

I think it’s fine to put you and your home address for registered keeper. That’s what I’m doing.

Q743: Is there a difference between the registered keeper and the owner of a vehicle?

"
A registration document (V5) is not proof of ownership. The registered keeper should be the person who is actually using / keeping the vehicle and this is not necessarily the owner of the vehicle or the person who is paying for it.



He is the person responsible for the vehicle so far as official communications from the police/DVLA etc., but the owner is the person who put up the cash (or was given it as a gift).



The DVLA make a point of saying that the person named on the registration document is not necessarily the owner.



This is particularly true with a company car which is owned by the company, however the registration document should show the registered keeper, i.e. the day to day user (this may be an employee who has it as a permanent perk with his/her job)."

 

[Blueskye]

it's a bit of an issue
DVLA will tell you that the person who keeps the car i.e. you should be the registered keeper.
my company accountant says it should definitely be the company and HMRC would not be happy otherwise if they audited
my insurance company says if I am not the registered keeper then the premium goes up.

I have the company name, then my name then my address. I am hoping that will keep everyone happy. not an option on your survey though
if I was not able to do that then I would just have put my name. Company name is on the invoice so company owns the car. Keeper is the keeper. In the unlikely event of an audit if HMRC don't like it ill change it then

Now that I’m thinking...
People who work for big companies that offer company car via salary sacrifice, etc I’m pretty sure that their name goes in the V5C?

which would then indicate that the driver’s name and address should go there.


Correct me if I’m wrong... but I think your accountant *may* be getting confused with a car that is being SOLELY used for business purpose (like one that is kept at the business overnight).
Unless you are declaring 100% business use and getting VAT perk...?

I see HMRC questioning the registered keeper then, but if you pay your BIK, then what do they have to complain about...?

On the other hand it’s never that simple with HMRC...

 

[Jason71]

Now that I’m thinking...
People who work for big companies that offer company car via salary sacrifice, etc I’m pretty sure that their name goes in the V5C?

which would then indicate that the driver’s name and address should go there.


Correct me if I’m wrong... but I think your accountant *may* be getting confused with a car that is being SOLELY used for business purpose (like one that is kept at the business overnight).
Unless you are declaring 100% business use and getting VAT perk...?

I see HMRC questioning the registered keeper then, but if you pay your BIK, then what do they have to complain about...?

On the other hand it’s never that simple with HMRC...

He was absolutely adamant even though he knew it was not business use but I still agree that he he is wrong. Sadly no VAT refund for me though
Fortunately it' my company so am at liberty to ignore him and he will never actually see the V5 anyway so if I had not mentioned it he would not even know.

 

[Blueskye]

He was absolutely adamant even though he knew it was not business use but I still agree that he he is wrong. Sadly no VAT refund for me though
Fortunately it' my company so am at liberty to ignore him and he will never actually see the V5 anyway so if I had not mentioned it he would not even know.

LOL about him not knowing

To be honest... with accountants sometimes you have to stick to your guns as *sometimes* you know your circumstances better and the ignorance of accounting practices can *sometimes* be a bless because you can think out of the box.


I have been in a small beef with the accountant of something that for me was quite important, (but not necessarily very important in the grand scheme of things) and he kept saying I was wrong and I kept saying I was right.
2 years later I became more and more insistent that I was definitely right and if he could seriously double check this as it was confirmed by many others I knew. He did check with accounting body, etc.... and guess what..


I was right!



I think he still hasn’t digested that fully!





Anyways.. my concern is about adding a new owner on the V5C unnecessarily, also decreasing the car’s value....
so would like to get it right first time around..

 

[Jason71]

LOL about him not knowing

To be honest... with accountants sometimes you have to stick to your guns as *sometimes* you know your circumstances better and the ignorance of accounting practices can *sometimes* be a bless because you can think out of the box.


I have been in a small beef with the accountant of something that for me was quite important, (but not necessarily very important in the grand scheme of things) and he kept saying I was wrong and I kept saying I was right.
2 years later I became more and more insistent that I was definitely right and if he could seriously double check this as it was confirmed by many others I knew. He did check with accounting body, etc.... and guess what..


I was right!



I think he still hasn’t digested that fully!





Anyways.. my concern is about adding a new owner on the V5C unnecessarily, also decreasing the car’s value....
so would like to get it right first time around..

Also adding a new keeper means re-taxing and brings the start of Luxury car tax forward a year so costs you £320
But whatever you want is probably irrelevant since Tesla will put on it whatever they feel like anyway
It is possible to get get v5 amended as a correction as several Tesla owners have discovered after Tesla put the wrong thing on theirs but it is not a simple process and involves getting a letter from Tesla fessing up to the mistake and giving it to the DVLA. so best avoided if possible.

 

[BernS24]

He was absolutely adamant even though he knew it was not business use but I still agree that he he is wrong. Sadly no VAT refund for me though
Fortunately it' my company so am at liberty to ignore him and he will never actually see the V5 anyway so if I had not mentioned it he would not even know.

I have bought a number of cars for my business over the years and am talking about a limited company. The rule is if it’s a pool car or only used for business purposes, the business is the owner and registered keeper. If it is classed as a company car, then the business would be the owner and you are the registered keeper. It’s the same if you leased a car, (not on PCP), the lease company owns it and you would be the keeper. It’s important to get it right not only for HMRC, but also for insurance.

 

[BernS24]

Also adding a new keeper means re-taxing and brings the start of Luxury car tax forward a year so costs you £320
But whatever you want is probably irrelevant since Tesla will put on it whatever they feel like anyway
It is possible to get get v5 amended as a correction as several Tesla owners have discovered after Tesla put the wrong thing on theirs but it is not a simple process and involves getting a letter from Tesla fessing up to the mistake and giving it to the DVLA. so best avoided if possible.

No this is simply wrong on all counts, you would be changing incorrect information, not adding, also changing the V5 is a very simple process and as the owner, if it’s your business or if you own it privately requires nothing from Tesla to get it changed.

 

[RagingWhisky]

If it was a ltd company car purchase, I'd be flipping the conversation the other way

You want the car to be a 69 plate, not a 20
You want the car to have the company on the V5C so it's had at least one owner

If it depreciated more because of it then cheaper for you to purchase at 'market value' when the 2% BIK ends (or whenever in future).

Note:I am not an expert!

 

[Blueskye]

No this is simply wrong on all counts, you would be changing incorrect information, not adding, also changing the V5 is a very simple process and as the owner, if it’s your business or if you own it privately requires nothing from Tesla to get it changed.

I believe the idea is to get it changed without adding a new owner!
If you “change” it... you are free to do so, but at the cost of now having 1 previous owner.

 

[Blueskye]

If it was a ltd company car purchase, I'd be flipping the conversation the other way

You want the car to be a 69 plate, not a 20
You want the car to have the company on the V5C so it's had at least one owner

If it depreciated more because of it then cheaper for you to purchase at 'market value' when the 2% BIK ends (or whenever in future).

Note:I am not an expert!

but at the same time it would create a lot of headache if you are using it personally...
- Insurance headache and possibly higher premiums
- if you don’t have garage/driveway and need parking permit from the council.., good luck

probably more, but those are the first to jump to my mind...

 

[Blueskye]

I have bought a number of cars for my business over the years and am talking about a limited company. The rule is if it’s a pool car or only used for business purposes, the business is the owner and registered keeper. If it is classed as a company car, then the business would be the owner and you are the registered keeper. It’s the same if you leased a car, (not on PCP), the lease company owns it and you would be the keeper. It’s important to get it right not only for HMRC, but also for insurance.

So I guess in my situation:
Business Hire purchase

Car used for businesses AND personal (commuting and enjoying the model 3! )
Car kept at home overnight and at work when I’m there..

it seems sensible for the car to be registered at my home address ( this doesn’t matter as much as you can change any time with no issues!) as it makes it easier for Insurance..

the business is obviously the owner

and me as the driver being the registered keeper.

the logic follows.. waiting for the other shoe to drop ​

 

[BernS24]

Yes that’s correct, business owns the car, you are the registered keeper, no problem keeping it at home if you are the registered keeper and it’s declared on the insurance and no issues with HMRC. You may already know this, but if you buy the car cash or even lease purchase it, because it’s an EV you can claim the full capital allowance in year one.

 

[Mark_T]

It's been a while since I was responsible for a Ltd. company car fleet, but at the time we were using LeasePlan and all parking/speeding tickets etc. went through them and then on to us to identify the driver, so that would suggest that the V5 remained in LeasePlan's name...

Insurance wasn't an issue as it was in the company's name of course with all staff able to drive any of the cars.

 

[Blueskye]

It's been a while since I was responsible for a Ltd. company car fleet, but at the time we were using LeasePlan and all parking/speeding tickets etc. went through them and then on to us to identify the driver, so that would suggest that the V5 remained in LeasePlan's name...

Insurance wasn't an issue as it was in the company's name of course with all staff able to drive any of the cars.

We are mainly discussing (I would assume) the Director’s company car really or a (very lucky) employee that has sole access and personal use.
Which complicates matters (unnecessarily) depending on who you speak to: accountant/HMRC/DVLA/Insurance/others...

the fleets are business only so quite straightforward on V5C side...

 

[Jason71]

No this is simply wrong on all counts, you would be changing incorrect information, not adding, also changing the V5 is a very simple process and as the owner, if it’s your business or if you own it privately requires nothing from Tesla to get it changed.

You say that I am wrong on all counts but offer no justification. here is mine

if you change the keeper via the change of keeper process it will cancel the licence, VED is not transferable between keepers, and luxury car tax is payable from the start of the second licence for 5 years so you will have to pay £320. that is a documented fact.

Tesla do not always put on the V5 what you ask for and what people at Tesla have agreed to. I can testify to this first hand and there are other cases on this forum. not sure why anyone who has had dealing with Tesla would find that hard to believe.

if you want to get the V5 amended as a correction on a new vehicle rather than a change of keeper then the DVLA will not do it without confirmation from whomever registered it that there was indeed an error. They will not just take your word for it. ideally this should be in the format of a letter on appropriately headed paper. I can't say 100% that this is true in all cases but I can say 100% say that this is what I was told by the DVLA .

your turn....