I get that, but he hasn't yet renewed for the first time since the car was first taxed so I don't know how it would work exactly. That's why I'm assuming he'll only get the basic back since that's what the new owner will be paying until the car is a year old and then pay both since the £40k premium only applies from year two onwards?
Potentially a good point But I did think the £40k RT was for 1st 5 and included in year 1…maybe not