Van finance

essexandy said:
And you knew this how?
And don't say imagination, we all know you're a builder and they don't have an imagination that goes beyond prices.
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As you know, starts off feeling that something isn't quite right, then gets warmer and warmer. Then when you turn the seat off you get that sudden cooling feeling exactly the same as few minutes after you've sh1t yourself and it starts to form a skin in your pants.

The only difference being that with heated seats you haven't got the worry of passing out from the stench when you eventually drop your kecks and break the crust.
 
Topspread16 said:
Yes you can, that’s what I do.
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Don't waste your (virtual) breath. He knows better than qualified accountants, people who've actually done it and even HMRC apparently (even though it's in black and white in the taxation guidance).
 
I brought a new van a year ago and I must admit my accountant said u get a % in deprecation over about 5 years . But I could Of heard her wrong, or got mixed up! maths was never my strong point:crying:

I was treating myself to it anyway whether I got a lesser tax bill or not
 
Topspread16 said:
Yes you can, that’s what I do.
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Yes you can i was wrong about that.
I was thinking that for a one man band or small company it would be more common to depreciate over a few years. The fact remains that a van is not paid for by the taxman in any way ,shape or form.
 
imago said:
Don't waste your (virtual) breath. He knows better than qualified accountants, people who've actually done it and even HMRC apparently (even though it's in black and white in the taxation guidance).
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I am not the one putting nonsense on here as fact, i don't get off on putting someone down to make myself feel or appear to be superior my friend.
 
superspread said:
I brought a new van a year ago and I must admit my accountant said u get a % in deprecation over about 5 years . But I could Of heard her wrong, or got mixed up! maths was never my strong point:crying:

I was treating myself to it anyway whether I got a lesser tax bill or not
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That is common practice for smaller companies .
 
tapit said:
I am not the one putting nonsense on here as fact, i don't get off on putting someone down to make myself feel or appear to be superior my friend.
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I think indirectly he does! If u have a tax bill of say10k by buying a van u could reduce that said tax bill by ( for arguments sake) 4K making ur tax bill 6k and so on , year on year until 100%( obviously the amount each year
gets less by deprecation )
I’m sure that’s what my Accountant told me

fuk knows , who cares
 
superspread said:
I think indirectly he does! If u have a tax bill of say10k by buying a van u could reduce that said tax bill by ( for arguments sake) 4K making ur tax bill 6k and so on , year on year until 100%( obviously the amount each year
gets less by deprecation )
I’m sure that’s what my Accountant told me

fuk knows , who cares
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If your tax rate is 25% the tax man pays 25% of the cost of your van.
You pay the other 75%, it's as simple as that.
 
Kinkyboy said:
On tapits take on it? That you pay 75% of outlay of van and taxman pays 25%
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Oh, I can't see it as I added him to GPS on the ignore list.

There are limits to the dribbling nonsense you can read even on TPF as evidenced by the figures you've quoted. Tapit is wrong, it's as simple as that, the information is available on HMRC's website or from a decent accountant.
 
imago said:
Oh, I can't see it as I added him to GPS on the ignore list.

There are limits to the dribbling nonsense you can read even on TPF as evidenced by the figures you've quoted. Tapit is wrong, it's as simple as that, the information is available on HMRC's website or from a decent accountant.
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Why block? We are all grown adults and surely can take a smack on the chin
 
Kinkyboy said:
Why block? We are all grown adults and surely can take a smack on the chin
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Indeed, and we all have freedom of choice so I've exercised mine and can now just ignore the nonsense. There's no point in reading or commenting further on his ramblings, he's wrong but can't/won't read further to see how or why.
 
Kasper said:
Right, drove transit 20 plate, really liked it, absolutely top of the top of vans. Would love one but payments are fair but high. Then later today I looked at 17 plate transit custom and although quite basic compared to 20 plate the payments and deposit are piss cheap and I would own the van at the end. It's got 30k miles and full service history. Any thoughts? Cheers.
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What do you mean basic? Cause it hasn’t got a big screen in the dash?
 
imago said:
Indeed, and we all have freedom of choice so I've exercised mine and can now just ignore the nonsense. There's no point in reading or commenting further on his ramblings, he's wrong but can't/won't read further to see how or why.
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Shame, Imago was one of the few i enjoyed reading.
He does not like to be wrong and have his arse handed to him by a tape salesman
 
tapit said:
Same. Job £100 materials £20 .Profit £80 Tax on £80 @20% £16 Profit after tax £64
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I like you tapit, so I’m not having a pop here,

so you get the whole 20£ off your tax bill?
Cos it was work related , surely that applies to a van too?
 
superspread said:
I like you tapit, so I’m not having a pop here,

so you get the whole 20£ off your tax bill?
Cos it was work related , surely that applies to a van too?
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No, it means you do not pay tax on the materials ie, 20% but you do pay the other 80%.
 
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