Scrap Metal Profit is a trading style of Admatrix Ltd, company number 08475546, VAT registration 195579545. Your use of the this website is subject to your acceptance of the terms of use and the privacy policy. You can contact Scrap Metal Profit by emailing admin@scrap-metal.org.uk and you will normally receive a reply within 48 hours.
The Scrap Metal Dealers Act 2013 According to this act: All the site and mobile scrap dealers, including motor salvage operators, must obtain a scrap metal dealer's license in the form of a collector’s licence (and a site license if required) from the local authority in order to continue their operations legally. Checking of criminal records will also be included while noting the suitability of the applicants. All the scrap metal dealers have been banned from dealing in cash. Scrap metal dealers must verify the identity of anyone from whom they buy scrap metal. The new act has also imposed stricter penalties for the people who attempt break the law. You must keep a record of all scrap metal that you receive, sell or buy. The record should have the following information: o A description including type, form, condition, weight, any marks identifying previous owners or distinguishing features. o The date and time. o The registration mark of the vehicle it was delivered in or on. o The full name and address of the person the metal was received from. o The full name of the person who makes the payment acting for the dealer. You will also need to register as a waste carrier. Key Requirement 1: Obtain a Collector’s and Site License A collector’s license will generally cover one council area. You can begin the process at the following location: https://www.gov.uk/scrap-metal-dealer-registration If you are storing scrap metal, you will also need to apply for a site license. You can begin the process at the following location: https://www.gov.uk/scrap-metal-dealer-registration There are small fees payable for each of the licenses above. Key Requirement 2: Register as a Waste Carrier If you are transporting or buying, selling or disposing of waste, you will need to register as a waste carrier. You can begin the process at the following location: https://www.gov.uk/waste-carrier-or-broker-registration As with the collector’s and site licenses, there is a small fee to pay. Registering for and obtaining the correct licenses and documentation will ensure that you are carrying out your business legitimately and therefore avoiding fines that could be imposed were you not following the rules. Tax Considerations If you are making money by collecting scrap metal, you are essentially running a business and so you will need to inform HMRC so that you can complete a tax return to that effect. You can find a host of information at the following link: http://www.hmrc.gov.uk If you are running the business part time, you will likely register as a sole trader. If you are running the business full time, you may find it beneficial to register a limited company at Companies House. Running a limited company brings many tax and other benefits. Seek Advice If you are in any doubt regarding the legal and financial aspects of running a business collecting scrap metal, seek professional advice first to make sure you abide by the law. There is not much doubt that today the scrap metal industry is one of fastest growing ones in UK. It is good to see the rising number of people entering this field. Though the profession demands a lot of physical work, there is no doubt that it has been successful in providing a ray of hope to those people who have been otherwise reeling under the financial strain of the recession. For those who have worked hard for many years in the scrap metal industry, they are still able to operate profitably. The mantra to success here is very simple: work hard and abide by the law. The bonus comes from the fact that because the scrap metal business involves recycling of natural materials, ultimately the work done is good for the environment.
Abiding by the Law
Scrap Metal Profit is a trading style of Admatrix Ltd, company number 08475546, VAT registration 195579545. Your use of this website is subject to your acceptance of the terms of use  and the privacy policy. You can contact Scrap Metal Profit by emailing admin@scrap-metal.org.uk and you will normally receive a reply within 48 hours.
The Scrap Metal Dealers Act 2013 According to this act: All the site and mobile scrap dealers, including motor salvage operators, must obtain a scrap metal dealer's license in the form of a collector’s licence (and a site license if required) from the local authority in order to continue their operations legally. Checking of criminal records will also be included while noting the suitability of the applicants. All the scrap metal dealers have been banned from dealing in cash. Scrap metal dealers must verify the identity of anyone from whom they buy scrap metal. The new act has also imposed stricter penalties for the people who attempt break the law. You must keep a record of all scrap metal that you receive, sell or buy. The record should have the following information: o A description including type, form, condition, weight, any marks identifying previous owners or distinguishing features. o The date and time. o The registration mark of the vehicle it was delivered in or on. o The full name and address of the person the metal was received from. o The full name of the person who makes the payment acting for the dealer. You will also need to register as a waste carrier. Key Requirement 1: Obtain a Collector’s and Site License A collector’s license will generally cover one council area. You can begin the process at the following location: https://www.gov.uk/scrap-metal-dealer-registration If you are storing scrap metal, you will also need to apply for a site license. You can begin the process at the following location: https://www.gov.uk/scrap-metal-dealer-registration There are small fees payable for each of the licenses above. Key Requirement 2: Register as a Waste Carrier If you are transporting or buying, selling or disposing of waste, you will need to register as a waste carrier. You can begin the process at the following location: https://www.gov.uk/waste-carrier-or-broker-registration As with the collector’s and site licenses, there is a small fee to pay. Registering for and obtaining the correct licenses and documentation will ensure that you are carrying out your business legitimately and therefore avoiding fines that could be imposed were you not following the rules. Tax Considerations If you are making money by collecting scrap metal, you are essentially running a business and so you will need to inform HMRC so that you can complete a tax return to that effect. You can find a host of information at the following link: http://www.hmrc.gov.uk If you are running the business part time, you will likely register as a sole trader. If you are running the business full time, you may find it beneficial to register a limited company at Companies House. Running a limited company brings many tax and other benefits. Seek Advice If you are in any doubt regarding the legal and financial aspects of running a business collecting scrap metal, seek professional advice first to make sure you abide by the law. There is not much doubt that today the scrap metal industry is one of fastest growing ones in UK. It is good to see the rising number of people entering this field. Though the profession demands a lot of physical work, there is no doubt that it has been successful in providing a ray of hope to those people who have been otherwise reeling under the financial strain of the recession. For those who have worked hard for many years in the scrap metal industry, they are still able to operate profitably. The mantra to success here is very simple: work hard and abide by the law. The bonus comes from the fact that because the scrap metal business involves recycling of natural materials, ultimately the work done is good for the environment.
Abiding by the Law
   Scrap Metal Profit
Scrap Metal Profit