The crystal structure, Sn and V distribution over the length of single crystal ingots, and galvano magnetic effects in low magnetic fields (4.2 K ≤ T ≤ 300 K, B ≤ 0.07 T) in Pb 1 -x -y Sn x V y Te alloys (x = 0.05-0.21, y ≤ 0.015) are studied. It is shown that all the samples are single phase, while the Sn and V concentrations exponentially increase from the beginning to the end of the ingots. Upon doping with V, a decrease in the con centration of free holes and a metal-insulator transition are found. They are related to the appearance of a deep impurity level of V in the band gap, electron redistribution between the level and the valence band, and pinning of the Fermi level to the impurity level. The shift rate of the V level relative to the conduction band bottom is determined and a diagram of the reconstruction of the electronic structure of the Pb 1 -x -y Sn x V y Te alloy upon varying the host composition is suggested.