My 1974 was registered as historic by me when I bought it 11 months ago (the previous owner was simply running it without tax - perhaps Staffordshire police don’t bother with the PNC on old cars..?
).
This was the first time I came across the V112 MOT exemption. My car had an MOT that would have expired a month back, but I filled in the V112 anyway to see what happened. The PO lady was not interested and simply ticked a box somewhere. A quick check just now of the government “MOT and Tax” website for my car shows my car has a current MOT and is taxed - both running out on the same date: the anniversary of taxing it. I assume from this that the system counts MOT and Tax as having the same validity period on our 40+ year old cars...
The government website says you must fill in the V112 even if the PO ignore it, which makes sense: You as owner are saying that you deem the car safe and roadworthy, no escaping that if they pull you and it’s not... Probably no insurance either!!
As for no MOT: I think that’s a big mistake for all the reasons in Carledo’s post, and I will MOT mine before it goes back on the road for summer. I think this is a nasty loophole that will cause accidents, especially for those classics that end up being cheap to run daily transport...