Transferring V5C in a dispute

nLinked

A little question about transferring of the V5C in a dispute situation. Scenario:

Someone buys a brand new vehicle from their own money direct from dealer. They want to use that vehicle with a company they work for, so the company allows them to put it under that company's trade insurance policy. But to do so, the V5C must also be under the company owner's name and company address. The trade insurance policy is then approved and valid. Its valid for personal, leisure, and work use.

Later, there's a personal dispute between the person who bought the vehicle and the company owner. So the person who bought the vehicle wants to transfer the V5C to their own name and change to their own personal insurance so that vehicle is out of any one else's hands.

Let's say the company refuses the transfer of the V5C because of this personal dispute (they just want to inconvenience them, argue back, have a go at them, etc). Where does the person who bought the vehicle now stand in having full ownership and control of their own-bought vehicle?

EDIT: to make matters worse, because the person who bought the vehicle knew it was going to be used under that company, the dealer had to put it on insurance straight away. So the invoice says the company's name and address.

Hintza

Sounds like it is the company's vehicle unless there is a signed document that says otherwise.

You might get a court to listen to you if the money trail can be followed (if you are very lucky).

I imagine that this might be best won via having enough information to threaten reporting to HMRC or similar.

Mark_Mark

The full story would help but hypothetically said person is fcuked.

dacouch

Hintza wrote: »

Sounds like it is the company's vehicle unless there is a signed document that says otherwise.

You might get a court to listen to you if the money trail can be followed (if you are very lucky).

I imagine that this might be best won via having enough information to threaten reporting to HMRC or similar.

The Insurers would not be to happy either

nLinked

Thanks for the replies. Where do the DVLA get the "ownership" details from? The V5C is what they get from us but that's for registered keeper. Do they ask the dealer?

forgotmyname

The DVLA dont care about the owner. They just need the name of a keeper to send reminders, fines and tickets etc.

The V5C states the registered keeper may not be the owner.

Trying to save a few quid on the insurance may cost them dearly.

arcon5

So you've not only transferred v5 to the company but on the purchase invoice put the company? Crazy move as if ownership is disputed you have no proof whatsoever you bought the vehicle. A court may even decide the company own it but are in debt to you for reimbursement of the money. If this is how it is seen then issues surrounding Benefit In Kind are raised so the tax man will be gunning for the company for not declaring this using P11D each year.

Insurance company may see it as fraud if you say the car is yours, yet falsified paperwork to claim something different to be true.

Realistically though I doubt the employer wants to get messy by making claim to the vehicle as the employer would have also been liable for addition NICs under the BIK arrangement and certainly wouldn't want investigating for tax evasion and money laundering.

I'm sure you can apply to the dvla for the v5 and change the keeper that way. Not sure what documentation they require though.

But I wouldn't say the employer holds all the cards.

Quiet_Spark

arcon5 wrote: »

I'm sure you can apply to the dvla for the v5 and change the keeper that way. Not sure what documentation they require though.

No documentation required at all, but DVLA will contact the current registered keeper to confirm that the change of details is allowed to go ahead before issuing a new V5C in the new keepers name.

forgotmyname

May want to stop driving it and maybe even hide it. If they cancel the insurance they wont be covered. And could have issues insuring a vehicle they dont own and not the registered keeper.

Especially when someone else claims to own it.

TrickyWicky

I think anyone doing something like this with their employer is asking for trouble to be honest. Partners and family members can be iffy too (I've heard of family members taking out log books loans on the relatives car and then the car getting repo'd lol).

Seriously it just is not worth it. The fact that you've had to start this thread asking for advice is the reason why.

arcon5

The guys just being awkward. Remind him of some consequences if you play dirty he'll probably want out of the whole situation quickly.