How?
How is the Scrappage Incentive Scheme likely to work in the UK?
Car Dealerships would offer an additional £2k discount from the purchase price. In order to claim this back from the government they will need to prove;
Purchasers would need to scrap their car with an ELV Authorised Treatment Facility, gain a copy of the Certificate of Destruction and, take this with the V5 logbook when they buy a new car. £2,000 will be deducted from the purchase price.
Alternatively, dealerships may be able to arrange for the scrappage of the trade-in on the purchasers behalf and gain the Certificate of Destruction direct. £2,000 will be deducted from the purchase price.
The Scheme would be paid for by the VAT generated from the sale ensuring the tax-payer is not out of pocket.
Car Dealerships would offer an additional £2k discount from the purchase price. In order to claim this back from the government they will need to prove;
- The scrapped vehicle was owned by the purchaser for at least a year (copy of V5 logbook).
- The scrapped vehicle has been deregistered with DVLA (copy of Certificate of Destruction).
- The scrapped vehicle is roadworthy (copy of current MOT test certificate).
Purchasers would need to scrap their car with an ELV Authorised Treatment Facility, gain a copy of the Certificate of Destruction and, take this with the V5 logbook when they buy a new car. £2,000 will be deducted from the purchase price.
Alternatively, dealerships may be able to arrange for the scrappage of the trade-in on the purchasers behalf and gain the Certificate of Destruction direct. £2,000 will be deducted from the purchase price.
The Scheme would be paid for by the VAT generated from the sale ensuring the tax-payer is not out of pocket.