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Best Date to Transfer Ownership and Tax Due
I wish to transfer ownership of a vehicle in my name to a family member. The tax expires at the end of May..
I can't find a definitive answer on the .gov website but I'm thinking that if I transfer ownership (online) on the 1st June, the new owner will have to tax immediately so the vehicle is taxed and I am covered as the vehicle was still taxed on the the last day I owned it - the 31st May.
Does this sound right? Is there a better way to do this (other than SORN for a couple of days) to ensure I don't end up paying VED in June?
Thanks in advance
Debbie
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Comments
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If you do it on 1st June you will indeed have to pay June's tax, as will the new "owner".What you are changing is not the owner, but the registered keeper. There's no real need to do that if it's a close and trusted family member.1
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If the new keeper taxes it on the last two working days of May, they get the option to have the tax expire at the end of April or the end of May the following year.
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Thank you for your replies. The car isn't used in Jan / Feb so I've renewed the tax for now and will SORN at end of December and change the registered keeper at the beginning of Feb or Mar next year. This was I should get a refund of 6 months and the new keeper can tax at the beginning of the month : )
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