214Vehicle dealers—registration of demonstrators and

214 Vehicle dealers—registration of demonstrators and trading stock (1) Duty under this chapter is not payable on an application by a licensed vehicle dealer to register a motor vehicle in the dealer’s name if— (a) the vehicle is a demonstrator or trading stock; and (b) the vehicle is not registered in the name of the dealer at the time of the application. (2) However, if the dealer has not disposed of the vehicle within 12 months after its registration under this section, the dealer becomes liable to pay the duty on the application for registration that would have been payable if the exemption under this section had not applied.