HMRC has identified an increasing risk of an error in the VAT returns for certain Franchised Dealerships, described as “Bumping”. HMRC are sending letters to some motor retailers that they believe are at risk from ‘Bumping’. Bumping is where there is a discrepancy between a vehicle sales invoice on the DMS system and the finance proposal one, which can lead to the underpayment of output VAT on … [Read more...]
Newslines 30 September
An Aston Martin DB5 replica stunt car featured in No Time To Die (2021) has raised £2,922,000 for good causes in a charity auction at Christie’s to celebrate 60 years of the James Bond films. Two Land Rover Defenders used in the film No Time To Die helped raised £352,800 for charities and they were sold as part of 60 lots from EON Productions to mark the iconic jubilee. UK car manufacturing … [Read more...]
It’s getting tougher for Welsh automotive sector
The UK Automotive industry is unlikely to return to previous high levels of production and component suppliers in Wales must look elsewhere to survive, delegates to the Autolink 2022 conference were told yesterday. The gloomy outlook and warning was given by Prof Ian Henry, managing director of AutoAnalysis and a HM Government advisor on the motor industry speaking at the annual Welsh Automotive … [Read more...]
Stopping the modern highwaymen & thieves
As the automotive and transport industries face some of the toughest challenges in recent years, a little known but immensely huge business is working behind the scenes to stop what is potentially the biggest threat of all, cybercrime. In 2019, working alongside Blaenau Gwent Council, the Welsh Assembly and the University of South Wales, Thales established a new National Digital Exploitation … [Read more...]
Charger availability will be 98% worse in 2031
Finding an electric car charger in 2031 will be 98% harder than it is today, according to a GoCompare Car Insurance. This emerges despite the ban on new petrol and diesel car sales, which is set to come in from 2030, highlighting that the country’s infrastructure may struggle to accommodate electric vehicles. Last year, there were 266 electric vehicles (EVs) to each public charger in the UK, … [Read more...]
Indies fight for lowering energy costs
The Independent Garage Association is launching a new service to help members assess and reduce their energy costs. The Workshop Utilities Healthcheck is an audit carried out at members premises to survey their energy output and highlight areas where money could be saved. Areas covered within the audit include equipment, heating, water, lighting, insulation and employee awareness, and the … [Read more...]
Cyber risks outlined to Wales’ automotive businesses
Cyber risks facing the automotive components suppliers in Wales will be covered in one of the presentations at this month's Autolink 2022 conference in Cardiff. Thales of Ebbw Vale will have two speakers covering the issues which can impact on the products, reputations and security as well as finances of parts and services suppliers in Wales with national and international … [Read more...]
Tradelines 14 September
Recycled fishing nets have caught the imagination of BMW sustainability engineers. Ocean waste is now being reprocessed into floor mats for iX and X1 models and more recycled plastic will be used in new models by 2030. Tesla now has around 4,000 supercharger stations globally, up nearly 34% over the same period last year. These provide over 36,100 connectors, also up 34%, as the company presses … [Read more...]
Newslines 12 September
The balooning sales of electric cars could be about to burst. High costs of the models with the majority over £30,000 combined with escalating electricity costs make them far less attractive than the current petrol cars and more economical diesel models and British sales of evs has stalled in recent months. The stark reality of Britain’s cost of living crisis has been revealed as new research … [Read more...]
UK not ready for big switch onto electric cars, report
More than 6.5 million electric vehicles (EVs) have been sold worldwide, and that number is set to grow due to the phasing-out of the sale of new petrol and diesel cars from as soon as 2025 (Norway), with the UK targeting 2030 and the 27 EU member states EU aiming for 2035. In anticipation of this, personal finance guidance and comparison website Forbes Advisor has looked at EV-readiness around … [Read more...]