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After months of speculation over possible changes in regulation. The Home Office has finally released a guidance document.
Which outlines details of the ‘new’ offence of cash payments for scrap metal.
Due to rising prices for metal and steel, theft of these materials have been increased over the last few years.
Furthermore, items could easily be exchanged for cash at scrapyards or waste transfer stations with no consequence to the individual.
Now, due to this new change in the law, this once cash dominated industry will be fully documented with all parties traceable.
Although, we are sure that there will be certain individuals who will manage to find ways around this.
However, we are sure that this new law will help to greatly reduce the theft of metal from places such as skips, memorials, train lines, driveways & gardens e.t.c.
If a scrap metal merchant pays for scrap metal in cash after the 3rd December 2012 the following are guilty of an offence:
Payments by cheque or electronic transfer will now be the only acceptable type of payment. This ensures a sufficient audit trail.
This means they can now be given up to a £5,000 fine for doing this activity.
Furthermore, a new law was introduced in 2016, aimed to stop rogue traders from buying and selling scrap metal for cash.
The law is designed to stamp out metal theft. Meaning traders will now need to sign up for a licence with the council in order to operate.