Can anyone please tell me what are the differences in registering a car in your name or the company name and is there any advantage to either of them.

Thanks Mark

registering in the companies name, you have no date to re register but will pay tax eventually, registering in your own name will only last as long as your litchna carta and you have to renew then, same cost as usual, as broad as its long really, cant win here they have both angles covered, if your private the fines are cheaper lol, would not worry really, we have done both and there seems to be no difference at the end of the day. nonsense all of it. the cost of a buisness car costs more when you sell as it has to go through the buisness account, cannot be done anyother way, so tax is inevitable, our tax was cheaper done in private name but renewal is earlier than through buisness, if you can make sense of this you are good really good.

So i need to speak with an accountant i understand paying tax lol but normally its reserved for making a profit so if the car dont make a profit when you sell it do you still have to pay Tax, sounds a bit strange lol but then having lived in Turkey for 5 years i know how strange laws can get, was sort of hoping for more sense re laws but looks like im not going to find it lol

Which ever way you register a car it will be a day of your life wasted The whole process is so time consuming but just be prepared for the Bulgarian equivalent of the MOT it's so funny. When I registered my car there was an old Lada in front of me. It was pushed (yes pushed) onto the test bed and subsequently onto the rollers for brake testing. The lights worked as well so it passed :Congtrats:Enjoy

They didn't even bother testing my lights! [You must be registered and logged in to see this image.]

One point regarding the personal v company registration, if your company is actually 'trading' (rather than submitting zero tax returns) then you can put all your petrol and other car expenses through the books which can help reduce the tax burden.

if you sell a car registered in company name, the money has to be shown in the company account for tax, we have just bought a car in private name, no problems but the couple we bought off had their car registered in company name had to deposit the money in their busness account which they had closed and had to pay to reopen it to show the deal that had occured for tax assessment. strange.

Golly Gosh!! don't they make things blooming difficult. It's only a car for goodness sake But I guess rules are rules have to abide but them eh!

Oddy

Yep rules are rules the one thing nobody has mentioned is when you buy a car in your company name the transaction should go through your company account as well as whe you sell it.

Thank you for the update

Recently registerd my Car, they would not let me register the car in my company name as i was the legal owner and i was not selling it to myself so had to be registerd in my personal name and that meant residency, i was not intending to do residency until October time but no problem total time to do both was 6 hours so i think i got off light lol,

The police officer in the registration place saved me over 100leva told me not to pay eco tax at the bank there but directed me to a small cafe over the road and some guy sat drinking coffee sold me the eco tax docs etc for 120leva less than the banks quoted prices,

The MOT was ok lol no problem with my lights ha ha ha

marlyn wrote:

Recently registerd my Car, they would not let me register the car in my company name as i was the legal owner and i was not selling it to myself so had to be registerd in my personal name and that meant residency, i was not intending to do residency until October time but no problem total time to do both was 6 hours so i think i got off light lol,

The police officer in the registration place saved me over 100leva told me not to pay eco tax at the bank there but directed me to a small cafe over the road and some guy sat drinking coffee sold me the eco tax docs etc for 120leva less than the banks quoted prices,

The MOT was ok lol no problem with my lights ha ha ha

I hope you didn't get stung? sounds a bit dodgy to me getting your Eco tax docs form a guy sat drinking coffee in a café

Daisy wrote:

marlyn wrote:

Recently registerd my Car, they would not let me register the car in my company name as i was the legal owner and i was not selling it to myself so had to be registerd in my personal name and that meant residency, i was not intending to do residency until October time but no problem total time to do both was 6 hours so i think i got off light lol,

The police officer in the registration place saved me over 100leva told me not to pay eco tax at the bank there but directed me to a small cafe over the road and some guy sat drinking coffee sold me the eco tax docs etc for 120leva less than the banks quoted prices,

The MOT was ok lol no problem with my lights ha ha ha

I hope you didn't get stung? sounds a bit dodgy to me getting your Eco tax docs form a guy sat drinking coffee in a café

I should think not i asked in the bank and was given a sheet of charges my car was 280leva for eco tax the guy asked for 150 leva and i gave him 160 as had no 10s or 50s took the form back and it was accepted by the office or they would not have done the registration so all in was a good deal, he even gave me a reflective vest lol dont intend to use it i hope.

tonyb60 wrote:

Which ever way you register a car it will be a day of your life wasted The whole process is so time consuming but just be prepared for the Bulgarian equivalent of the MOT it's so funny. When I registered my car there was an old Lada in front of me. It was pushed (yes pushed) onto the test bed and subsequently onto the rollers for brake testing. The lights worked as well so it passed :Congtrats:Enjoy

I was at Veliko Kat last week with the Corsa I'd just bought in Sofia, I spent 160 lev on 2 new tyres, 200 Lev on timing belt, fan belt, full service etc just to make sure It would pass the MOT, I duly pulled into the Kat yard, a neighbour helped sort the paperwork and payment etc out, and after visiting the 3rd window (The Bank) I had to join the queue for the test.

Luckily there was only 4 in front of mine so what was expected to take all day only took 3 1/2 hours

Anyway this examiner walks up and asks to see the engine, so I opened the bonnet, there he took the engine number then he wants the flap opened on the passenger side floor so he can get the chassis number, after that he wants the boot opened so he can see the fire extinguisher, hi vis and triangle Lol

Thumbs up off him I now have satisfactorily passed part 1 of the Bulgarian MOT, Part 2 involves driving into the workshop over the pit so I stops on the pit for my brake pipes, chassis and exhaust etc to be checked, but nope, he insists on checking the brakes on the rolling road first, and waves me off the pit onto the rollers, foot brake and hand brake checked I'm then told to stop outside the office before the exit, while he goes in to get a bar code sticker which he puts inside on the top of the windscreen.

I'm then shown a parking space where he wants me to park so I can remove the transit plates I got in sofia (Without the car being present)

My neighbour then takes me back into the main office and after 45 minutes and 3 windows later I'm issued with the bulgarian documents and a slip to take to another garage on site for the new plates to be fitted as the car had passed its Bulgarian MOT

Not 1 light was checked nor was the horn or tyres or brake pipes etc

But the best part was when we got home my neighbour said, next November give me the small card and a bottle of Zagorka and I'll give it to the engineer who lives in the village to get your service done it will save you taking the car to the garage :shock:

So 360 lev spent on preparing a car for its MOT and the gits never even looked at it Lol No wonder the bloody Lada's run for ever in Bulgaria Lol

That is exactly what happened to me when we registered our old banger

But on its first renewal of the MOT they checked the lights

The 2nd the lights and the brakes