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The DVLA have recently revised their view that a wrap is only a temporary colour change. The advise now is to inform the DVLA when a vehicle is wrapped

Recent Statement by the DVLA:-

"The register maintained by the Driver and Vehicle Licensing Agency (DVLA) essentially exists to assist in revenue collection, road safety and law enforcement. The Police and other enforcement agencies rely on the DVLA record for all vehicles-related investigations. It is therefore paramount that the information stored on the vehicle register is accurate and up to date.

DVLA records details given by vehicle manufacturers at first registration. Any changes to the vehicles details must be notified to DVLA by law.

By covering the entire vehicle in a coloured adhesive/vinyl wrap, it is DVLA’s view that the colour change should be recorded. To notify a change of colour you should complete section 7 of the registration certificate V5C and return it to DVLA Swansea SA99 1BA. You should receive a replacement certificate within two to four weeks.

We would advise that any owner of a vehicle that has had a full colour change wrap should now inform the DVLA immediately by completing and sending the necessary paperwork as specified.

Thursday, 3rd April 2014"

Note that they say it is the DVLA's view - so still open to interpretation. You can still argue it is a temporary change - the actual colour of the vehicle still exists under the wrap