Can You Put a Private Plate on a Company Car?

Navigating the world of personalised number plates can sometimes be confusing, particularly when involving company vehicles. This might leave you wondering whether you can truly have a private number plate on a company car. The direct answer is that you can put a private plate on a company car, but the process depends on whether the company owns or leases the vehicle.

For company cars that are leased, it is essential to obtain permission from the finance company, as they are typically the registered keeper of the vehicle. If your company owns the car outright, it may be easier as the company itself is the registered keeper, simplifying the process to adjust the registration. It's crucial to gather the necessary documents, including proof of ownership, before embarking on this endeavour.

Understanding the detailed steps and potential challenges will empower you in making the right decision for your situation. By addressing specifics, such as registration processes and relevant paperwork, you can tackle this task with confidence, ultimately ensuring that your personalised plate legally adorns your company car, reflecting your individual flair.

Is It Possible to Put a Private Plate on a Company Car?

Yes, you can add a private plate to a company car, but there are a few considerations.

Ownership and Permissions

If the company owns the car, it typically acts as the registered keeper. You’ll need the company's permission to assign a private plate to it. Ensure that all documentation, such as the V5C (vehicle logbook), reflects any changes.

Lease Vehicles

For leased company cars, placing a private plate is a bit more complex. You require permission from the leasing or finance company, as they are the official registered keepers. It's crucial to review the leasing agreement for any specific clauses about altering license plates.

DVLA Procedures

To officially assign a private plate, you must complete the necessary paperwork and inform the Driver and Vehicle Licensing Agency (DVLA). This involves submitting forms such as V317, along with relevant documents. Ensure all information matches DVLA records to avoid any processing delays.

Tax and Insurance Considerations

Switching to a private plate doesn't affect the taxable benefit of using a company car. However, notify your insurance provider of the change to keep all records current. Failing to update could lead to complications in case of an incident or claim.

Plate Ownership

Once a private plate is assigned to a company car, it might seem like the plate belongs to the company. Maintaining clear ownership records is essential to prevent disputes upon car sale, lease return, or ownership transfer.

Who Owns the Private Plate Once Assigned to a Company Car?

When you assign a private plate to a company car, ownership of the number plate itself does not change. You retain ownership of the private plate, but things can get tricky when the car's registered keeper is the company.

The registered keeper, typically the company, manages the vehicle's documentation. This means the company needs to handle the transfer and assignment paperwork for the plate. However, your ownership rights over the plate remain unaffected.

It is essential to ensure you have clear agreements with the company. You should confirm your rights to remove and transfer the plate when needed.

The private plate's true value remains with you. Even when on a vehicle owned or leased by a company, you can retrieve and reassign the plate at your discretion. Make sure to follow all necessary procedures if you wish to move it to another vehicle.

How Long Does the Process Take to Assign a Private Plate to a Company Car?

Assigning a private plate to a company car can vary in time depending on the method chosen. Online applications are typically the quickest option, with the car registration being assigned immediately if your vehicle doesn't require an inspection.

If you opt to apply by post, the process may take up to two weeks. This is usually necessary if certain documentation is required or if the vehicle needs an inspection.

When it comes to lease vehicles, you need to contact the finance company six weeks prior to the end of the lease. This ensures there is enough time to manage the private number plate removal and retention process.

It's important to factor in the timelines for processing, especially if your company vehicle falls under specific lease agreements. Each funder and leasing contract may have different requirements that can affect how long the process takes.

Are There Any Restrictions on the Type of Private Plates for Company Cars?

You can use private plates on a company car, but certain restrictions apply. These rules mainly concern the format and legal compliance of the registration plate. The plate must adhere to the DVLA’s specifications, such as size, font, and spacing. It should also be made of reflective material.

When it comes to leased company vehicles, you might face additional restrictions. Leasing companies might have their own policies about modifying vehicles, including changing number plates. You should verify these details with the leasing company before proceeding.

Vehicle taxation is another aspect to consider. A personalised plate does not directly affect the vehicle tax, but any modifications to the vehicle, including the registration, must be communicated to the appropriate authorities. This ensures that all documentation remains accurate and up-to-date.

Lastly, bear in mind that private plates cannot make the vehicle appear younger than it is. The digits and letters on the private plate should not mislead anyone concerning the vehicle’s age. Thus, when choosing a personalised plate, select one that complies with these regulations.

What Happens to The Private Plate If The Company Car Is Sold?

When you decide to sell a company car with a private plate, the plate does not automatically transfer to the new owner.

First, remove the private plate from the car. You can do this through the DVLA online or via postal application. The original registration number assigned to the car typically returns once the private plate is removed.

The private plate, once removed, can be kept on a retention certificate. This certificate allows you to retain the plate for future use on another vehicle you own or manage.

If the private plate is not removed before selling the car, it transfers along with the vehicle to the new owner. The new owner then has rights over the private plate, and reclaiming it can prove complicated.

To ensure smooth transition, initiate the plate removal process early and complete it before finalising the sale. This will streamline the sale and secure your ownership over the private plate.

How Can I Retain My Private Plate When Leaving the Company?

To retain your private plate after leaving a company, you must first remove the plate from the company car. This involves placing the number plate into "retention." By doing so, your plate is temporarily taken off the vehicle but still belongs to you.

The process usually requires the vehicle's log book (V5C). If the car isn’t registered in your name, you may need to coordinate with the company. This might involve offline procedures, such as postal applications, especially if the plate was initially linked to your vehicle by the company.

Fees and Documents:

• Cost: £80 to apply for retention.
• Document Required: V5C log book.

Once the plate is on retention, you can use it on a new vehicle anytime within a 10-year period. The official document for this is the V778 retention certificate. Make sure to keep the certificate safe, as it's proof that you own the plate.

Steps for Retention:

1. Log into the DVLA's online system or complete a paper application.
2. Provide necessary documentation.
3. Pay the retention fee.
4. Receive the V778 certificate.

After completing these steps, your plate remains secure and available for future use. Once you have a new vehicle, assigning the retained plate is straightforward, provided all documents are in order.

Summary

You can indeed put a private plate on a company car. This is a common practice and involves several steps and regulations. The process requires you to legally assign the private plate to the vehicle.

When using a private plate, it's important to ensure it is registered correctly with the DVLA. This involves having the official documentation and paying any necessary fees.

Benefits include:

• Personalisation: Reflects individual identity.
• Branding: Can enhance company image.

Be aware that the provision of a personalised number plate does not give rise to an additional taxable benefit beyond the standard car benefit charge. It's best to confirm any tax implications specifically related to company policies or HMRC guidelines.

Consider any potential administrative requirements by your employer or leasing company. Always check company policy to ensure compliance with internal procedures related to fleet management and vehicle registration.