I read somewhere that the tax is based on the price you paid and what you sold it for and doesn't take into consideration the cost of parts, not sure if that's rubbish or not?

Is there a limit to the amount of V5's in your name, wasn't planning on filling out the traders V5 section, just putting them in my name. I was going to put half in my name and half in the missus (who's also on the policy).