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Road Runner Motor Trade Road Risks Policy Underwritten by AXA Insurance DAC Summary of Cover Your Motor Trade Road Risks insurance policy is underwritten by AXA Insurance DAC and is a commercial business
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01
Obtain a copy of the motor trade summary form from the relevant authority.
02
Fill in your personal details such as name, address, and contact information.
03
Provide details about your motor trade business, including the type of vehicles you deal with and any relevant certifications.
04
Include information about your trading activities, such as the number of vehicles bought and sold during the reporting period.
05
Sign and date the form to certify its accuracy before submitting it to the appropriate authority.

Who needs motor trade summary of?

01
Motor traders who are required by law to provide a summary of their trading activities to the relevant authority.
02
Authorities who regulate motor trade businesses and need to monitor trading activities in the industry.
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The motor trade summary is a report that contains details about the purchase and sale of vehicles by motor traders. It provides a comprehensive overview of transactions for tax purposes.
Motor traders or businesses engaged in buying and selling vehicles are required to file a motor trade summary. This includes dealerships and individuals who are registered for VAT.
To fill out a motor trade summary, gather sales and purchase records, report total sales and purchases, include vehicle identification details, and submit the form to the relevant tax authority.
The purpose of the motor trade summary is to ensure accurate reporting of vehicle transactions for tax compliance and to calculate VAT owed or reclaimable by motor traders.
Information reported on the motor trade summary includes total sales and purchases, VAT amounts, details of vehicles dealt with, and the trader's registration information.
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