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Inherited Volvo - sell to put towards a Berlingo for business?
#1
Hi! I'm looking to sell a car I inherited and invest that in a new Berlingo for my taxi business - I've joined to learn more about the Berlingo, how it is in real world use and hopefully show you mine when it's delivered!  Smile My first concern is when I sell the car - I had little involvement with the financial side of my fathers death & inheritance, just kept watch over his possessions and made sure everything went where he wanted it to (reason can be summarised by: siblings are awful people). I have no idea whether I'll end up with a tax bill if I sell the Volvo I've been handed down. As lovely a car as it is, I have no use for it and it's not quite the car I want in my business (new-ish V40 Cross Country). This tax calculator says I would pay a good chunk of the value of it in taxes - how does that work? Hoping someone here can put my mind to rest as I'm holding off putting it up and I'm pretty sure having an uninsured car in my drive isn't legal!

Thank you in advance!!
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#2
Can't help on the tax but re the insurance - look here:

https://www.gov.uk/sorn-statutory-off-road-notification
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#3
There is no tax on items bequeathed after probate has taken place. Your car is safe.

You will need SORN / continuous insurance, has the V5 been transfered to your name I assume the executor has done all of this stuff.
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#4
SPAM ABOVE

Sent from my VFD 710 using Tapatalk
[-] The following 1 user says Thank You to Satellitemark for this post:
  • brodfather11
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#5
DESPAMMED
2001 1.9d DW8B  Berlingo
[-] The following 2 users say Thank You to brodfather11 for this post:
  • Duntans, Satellitemark
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#6
(18-10-2018, 06:30 PM)shedpete Wrote:  Can't help on the tax but re the insurance - look here:

https://www.gov.uk/sorn-statutory-off-road-notification
(18-10-2018, 08:37 PM)geoff Wrote:  You will need SORN / continuous insurance, has the V5 been transfered to your name

Thank you both!! The V5 is in my name yes, but it wasn't SORN until now. I've got a lot going on right now and not once did I think of that, thank you again! Smile The car's going off to a Volvo dealer as they've offered a very acceptable price and they'll sort everything out for me. Hopefully in a few weeks I'll have a Berlingo on the way! Wink
[-] The following 3 users say Thank You to Duntans for this post:
  • Art b, geoff, Tomcat3
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