A responsible car wash owner will be honest and transparent about all financial matters relating to the car wash. This includes the way they operate, the business and their employees being registered appropriately with Companies House and HMRC respectively.
An operator will be expected to be able to demonstrate:
- That they operate under a Registered Company and comply with relevant tax and VAT legislation
- They operate under a legal structure and the company they operate under is registered with Companies House and in line with HMRC expectations
- They are submitting appropriate reports or accounts to relevant bodies (HMRC, Companies House etc.)
- That they have accurate and complete records for all trade income, expenses and overheads
- They are registered for VAT in line with HMRC guidelines (if threshold is met), submitting accurate/timely returns and making prompt payments to HMRC in respect of this
- They are submitting accurate and timely information for Corporate Tax purpose
- They adhere to the Criminal Finance Bill (Prevention of money laundering requirements) to prevent tax evasion
- Customers are provided with receipts and VAT receipts
The operator will need to prove that they have the appropriate insurance:
- That they hold a valid Employers Liability Protection Policy appropriate to the requirements of the business model at all times
- That they have Public Liability Insurance
- If there is any movement of vehicles on sites by the operator or any of their employees, the operator must demonstrate that they hold (and display) a valid motor trade insurance policy
In addition to the above, a responsible car wash operator will also seek to ensure that customers, their vehicles and car wash property are also insured with a reputable provider for at least a level of cover that will extend to product liability and building and equipment commensurate with the business operation.