Cash Payments for Scrap Metal Forbidden

Cash Payments for Scrap Metal Forbidden

Scrap Car Comparison would like to let everyone know about a recent piece of legislation which was passed through Government. This legislation places a ban on any cash being accepted for scrap metal. This law took effect on the 3rd of December and affects solely companies in England and Wales. The changes were created under the Legal Aid and the Sentencing and Punishment of Offenders Act prohibiting the payment of scrap metal by cash. Instead, all payments must be made either by cheque or electronically.

Acceptable Methods of Payment

Consequently, by paying cash for scrap metals can earn you a fine by the Government. It is vitally important to note when buying or selling scrap metal that you only deal with scrap metal dealers who are registered with their local authority under section 1 of the Scrap Metal Dealers Act 1964. The Home Office have laid out specific guidelines for us to follow in regards to scrap metal. They also explain future considerations to bring in plans to revoke trading licences.

Record Keeping

Scrap metal dealers must be able to convey a copy of a named cheque or a printed receipt of the electronic transaction made. A record of the person who made the transaction must also be kept who took the receipt. If no proof can be shown in relation to the transaction it will be rendered incomplete and considered an offense under s2 of the Scrap Metal Dealers Act.

Finding a proper Scrap Metal Dealer in Your Area

When considering selling your scrap car it is best to consult with legal scrap metal companies. Scrap Car Comparison checks all the scrap dealers in your area to bring you the best price and most established scrap metal companies in the UK. Visit our website and place your registration number in our online comparison form to compare hundreds of prices now.

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