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If you want to keep the registration that is currently on your car - to transfer it to another vehicle, or to simply hold onto as a certificate until you decide what to do with it - then the answer is yes.
When a car is scrapped, unless the registration is first removed, the number plate will be lost along with the vehicle. There's also then no hope of the number plate ever being issued again. The DVLA do not re-issue plates that have previously been on vehicles.
If you are selling your car, then the V5C (log book) is essentially the proof that you own the registration. If you do not first remove the number plate before transferring the ownership of the car to someone else, then they will become the owner of the registration along with the vehicle.
If you have no interest in keeping the registration, then you don't have to do anything and can let the number plate go with the vehicle. However, it may be first worth getting a free valuation for your plate in case you're sitting on something worth more than you expect! Back in the early 1900's, before private plates were seen as desirable items, countless registrations that today would be worth tens - if not hundreds - of thousands of pounds were simply scrapped along with the vehicles they were on. Your plate might not fetch quite those figures, but if it contains certain numbers, initials or matches a name or word, it may make it worthwhile saving it from simply being lost forever.
For further information: Retain A Registration With DVLA Retention Scheme