ETTING YOUR IONEY BACK
Page 31
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Ipt attention to paper work, once it )een decided to delicence, has many
icial advantages by lain Sherriff t article in this series last week :led the relative merits of sellping or laying up vehicles. method is chosen, papervolved; and the operator can nds on fees or premiums.
:r, the largest immediate sayoerators who take vehicles off ire contained in the standing These include the cost of nsurance and interest on borney; whether it be by hire purik overdraft or for leasing pur e weekly standing charge for e items varies from ED for a )SS machine up to £50 for a 32r these purposes, the standing o not include wages, rent or I the matters concerned with g should be dealt with ously, but we will treat them /hat is considered the most iuence.
Ang
tide excise licence for vehicles before October 1974 should idered immediately to the notor taxation office and attached to a form V14, from that office. Refunds are le basis of one-twelfth of the for each remaining complete the licence.
sential that a licence is suriefore the first of the month, in obtain that month's rebate. with an 'N' suffix should be in the same way but through Swansea office; the address is iver and Vehicle Licensing Centre, Langview Road, Clase, Swansea SA6 7J L.
An example of the savings which can accrue from delicensing a goods vehicle are as follows. A 32-tonner with an unladen weight of 10.1 tonnes (10 tons) which was taxed for 12 months on January 1 this year at a rate of £459 and which is delicensed as from April 1, would qualify for a rebate of over E340. A vehicle with an unladen weight of 5.3 tonnes (53/4 tons) taxed for the same period and delicensed from April I,. would obtain about E160 rebate.
The rates applicable to each class and weight of vehicle are set out on the notes which accompany the DoE form V10 which is an application for a vehicle licence.
Operators' licences should be varied when the vehicle is delicensed; to do this the operator has to complete the DoE form G V80 which can be obtained from his traffic area office. Once again the rebate is related to the unexpired period of the licence. If the licence was first granted for five years and three years remain, the operator will be due £15.
The calculation is based on complete remaining quarter periods so it is important that operators check when the licence was issued and ensure that they do not run into another quarterly period. Each full quarter's rebate is worth £ I .25.
Insurance
Most operators with fleets of less than 15 vehicles are likely to be insured on ad hoc termination basis; and where this is the case they can terminate an insurance premium at any time.
Normally, this will mean a rebate of the total unexpired portion of the premium calculated in days. Some of the larger operators will be on a threemonth termination agreement, and the larger still will work on an annual basis.
The difference in each of these termination agreements was explained to me by an underwriter whose company carries continued overleaf