written off and ripped off !!!

[Kev Stephenson]

So really what your saying is that its not right for me to spend 600-700 quid and then sell it to recover my costs to then buy another truck ? and that having a hire truck to carry on working for while the insurance company decides what to do with it ? personally the problem was A -the fool that went into me and B- his insurance company for dragging their heels over it for 5 months if they want to do that its up to them. im still going to be out of pocket as im vat registered which means i will lose 17.5% of what ever they pay me . i agree that its shocking how costly it can be in situations like this but im sure if it was you that had been in an accident in your work truck then you would jump at the oppertunity to have another vehicle for as long as your without yours so that you can still keep working . Further to this i have agreed not to claim for any unasured losses which would have added considerably to the final cost to the insurer .

 

I have no issues with you spending £6-700 on putting the truck right but what about the £1300 you will be profitting?

 

Will you declare that to the tax man as a business profit as it is a works truck on a works policy?

 

Why do you need to sell it if you are spending money on having it put right?

 

Why will you be 17.5% down. You (probably) didn't pay vat on the truck in the first place and if you do feel the need to buy another you will either claim the vat back or if you buy it from a non registered seller you won't lose it on the sale in a few years time either.

 

I have no issues with the hire truck up to the point a sensible offer is made.

[combined tree services]

right , i need to buy another truck - Roughly 2k plus VAT they were ofering me either 2k inc vat or £1400 and the truck , neither offers were going to result in me getting another truck equivelant to what i had , this is taking into acount its age, milage, and the condition of the truck . when buying the truck i had to pay VAT as it is classed as a commercial . now i get a truck and 2k , minus 600-700 = 1300-1400 , i then sell the truck as an accident dammaged truck repaired and cat d registered i will most likely get 1000 for it, that equates to ending up with about 2300-2400 so basically in a round the houses way equates to 2k pluss vat , thus meaning im not out of pocket as i could not claim thevat when i bought the truck.