Total loss questions

M0neysav3r

Hello all you knowledgeable people,  I hope you can help.
a few weeks ago my husband was hit in the rear by a company vehicle, no liability disputed, we went directly through third party insurers and had the vehicle inspected. 

The damage is a dent to the bumper and scratched boot lid so still drivable.

TP insurers deemed a total loss and want to pay us vehicle value minus salvage. 

My questions are 
- If we take money offered (minus salvage value and retain vehicle) do we have to inform DVLA?  Can we just drive the vehicle as it is (just passed MOT)? 

- Own insurers are aware of the incident and that we are claiming through TP insurers, do we need to advise them?

Many Thanks 

DullGreyGuy

What category of total less is it? Sounds like an N in which case nothing needs to be done and it won't be marked on the V5c