New rules that will affect all who, from time to time use scrap yards..

[sparks1973]

I know it'll cost us a bit of tax weighing in all the old scrap but if this is in forced properly then surely it's going to be a good thing.
wont affect me because I always declared the scrap money!

no..it wont be a good thing Will....
think about it....this scrap has been taxed already....so whats it supposed to be now then...tax the little `perks` in life....i`m bloody sick of it..
if the only motivation to deal with metal theft is to find a way of taxing the scrap value (and i suspect it is)...then its crap and should be stopped before its even got going...
so it`l start with just a teeny weeny bit of tax....then when the government thinks its all clear to go ahead...it will.....and up and up the tax will go...a bit like fuel...and as it will be on a percentage....well, can you see the price of copper going down anytime soon.....
mark my words..its a scam...and theft practiced on a larger scale than any old time metal thief ever practiced......

 

[saveloy]

In my local rag that some people have been prosecuted for giving out false details as the scrappy makes a note of all vehicle regs numbers.

I'd love to know what offence was committed when someone gave false details to a scrappy. As far as I am aware it is only the police to whom you have to give your details when requested. I am not a lawyer however and am happy to be corrected.

 

[grantr37]

I suppose I'll need a waste carriers licence next?

actually you do, and its about £800 and a load of paperwork to apply, as well as other licences for storage etc.....and they can reject your application just because they feel like it......you need such and such a classification of storage facility with such and such drainage and storage space etc....


I have heard of a lot of people being pulled over on the road and asked for a waste handlers licence, they say it is to stop fly tipping but its just another way to control you and take your money...do you think they actually care about fly tipping when they let the country get into the state it is in with rubbish everywhere and run down abandoned buildings all over.....factories and agricultural site pumping out all sorts of chemicals?? they want to pick your bins up once every 2 weeks.....but if you drop a banknote they can charge you with littering......

 

[grantr37]

Hi all, hope your having a good month and hope this news doesn't spoil it a little.
Unsure if many of you are aware of some information I found out recently which may affect some of you if not all from some time or another.
I have been overseas for a while and not had to use scrap yards to weigh in cut offs for a coupe of years.
Iwent last week to one and was told I needed an account, for this I needed photographic ID, proof of address and my reg number.
I opened an account and was paid.
I chatted to the dealer who told me he has heard on the industry grapevine that as of dec 3rd it will be illegal for scrap yards to make cash payments for scrap metal, they can pay by cheque or BACS only.
Any person caught dealing , buying in cash faces penalties and up to 6 years imprisonment.
The government has not announced it yet but these rules will come into effect Dec 3rd.
So, in a nutshellell from December any scrap you weigh in will be traceable and come end of year, HMRC will be wanting their cut.
Another blatant move by the establishment to tax the crap out of something else, so if you have anything to sell, do it before December.
hope this helps anyone who hasn't heard about the changes.
Again my apologies if your as outraged as I was when I heard this.

paying tax on material that you already bought and paid sales tax on ....





I can see one of two things happening ...

(1) Waste handlers Licence = money........+capital gains tax ......if a business scrap disposal, VAT and corp tax.....


(2) local "authority" secure skips springing up for people to "dump" their copper in as well.... just like bottle banks and can skips......they will expect everybody to sort and clean it then give it in for free, possibly imposing legal penalties on anybody caught "disposing of commodity grade materials in the general waste stream" ie not recycling all of it but binning in protest.....next it will be the cash for gold shops getting registered details of sellers for taxation purposes disguised as other things.....



There's rules on capital gains tax that mean selling an item you already bought and personally own outside of a business (your own personal things)for personal reasons such as being short of tangible assets (ie physical cash to pay your mortgage) leads to obligations to pay further tax in the form of gains tax........even selling a car can make you liable, and although not actively pursued at the moment under certain levels of value, will probably be pursued with rigour in the near future..



you can assume that any metal will end up going through the same channels, transferred to europe then shipped out to the far east, it will just be a few cronies taking the lions share of the money for carrying out scrap handling and processing for the government and the rest will go in tax....


bottle skip

paper bins

can skip

copper skip

old jewellery skip...

 

[UNG]

(2) local "authority" secure skips springing up for people to "dump" their copper in as well.... just like bottle banks and can skips......they will expect everybody to sort and clean it then give it in for free, possibly imposing legal penalties on anybody caught "disposing of commodity grade materials in the general waste stream" ie not recycling all of it but binning in protest.....next it will be the cash for gold shops getting registered details of sellers for taxation purposes disguised as other things.....

Whatever happened to taking your pop bottles back to the shop and getting money back I remember the days when a discarded bottle was pounced on like it was money collect enough and it was a nice little earner

There's rules on capital gains tax that mean selling an item you already bought and personally own outside of a business (your own personal things)for personal reasons such as being short of tangible assets (ie physical cash to pay your mortgage) leads to obligations to pay further tax in the form of gains tax........even selling a car can make you liable, and although not actively pursued at the moment under certain levels of value, will probably be pursued with rigour in the near future..

If you own a car or cars that are appreciating in value then you must be doing well. With capital gains tax you only pay tax if the value of the capital asset has increased over the purchase price and the first £10,600 of gains are exempt (2011 - 12 tax year )

 

[sparks1973]

(2) local "authority" secure skips springing up for people to "dump" their copper in as well.... just like bottle banks and can skips......they will expect everybody to sort and clean it then give it in for free, possibly imposing legal penalties on anybody caught "disposing of commodity grade materials in the general waste stream" ie not recycling all of it but binning in protest.....next it will be the cash for gold shops getting registered details of sellers for taxation purposes disguised as other things.....
yep...they`v already said that the `cuts` and whatever else they have in store are going to `bite deeper`....

 

[oldtimer]

Cant understand this paying tax twice when you buy the cable the wholesaler pays tax on his profits you then pay tax on your profits as this is the supply chain

 

[imago]

Speaking personally, the vast majority of the cable I weigh in is from the '60s '70s and 80's. So the double tax issue doesn't apply to that. Nor does it apply to off-cuts for me, if I buy a roll of cable for a job then I charge it to the job.