Van lease

[Rossi46]

Are better tax still on here?

Was talking to a joiner on a job today and he said he's getting a brand new Transit Custom delivered from Vanarama and told me that when he spoke to his accountant his accountant told him that the lease payments are 100% tax deductible???!!!
That can't be right surely or everyone would have one. It's a free van!
I looked into it a little and I think it's something to do with an annual investment allowance??! Does anyone know any more on this?

https://www.growthbusiness.co.uk/gr...e-annual-investment-allowance-explained.thtml

Thanks.

 

[zolco]

Are better tax still on here?

Was talking to a joiner on a job today and he said he's getting a brand new Transit Custom delivered from Vanarama and told me that when he spoke to his accountant his accountant told him that the lease payments are 100% tax deductible???!!!
That can't be right surely or everyone would have one. It's a free van!
I looked into it a little and I think it's something to do with an annual investment allowance??! Does anyone know any more on this?

Thanks.

As it is a cost you can deduct it from your tax at every tax return

 

[zolco]

most people purchase a van as they rather have a new van than pay tax

 

[User___removed]

I would'nt lease a van in our trade
I had one on higher purchase once which was ok

 

[Rossi46]

most people purchase a van as they rather have a new van than pay tax

£20,000 is a lot of money. Vans are extortionate nowadays!

 

[owls]

You get right down on it as said, so Instead of paying Osborne pay ford.
I'd never lease, most have mileage limits, you have to return the van back imaculate, as well as other clauses. We buy ours for piece of mind.

 

[owls]

£20,000 is a lot of money. Vans are extortionate nowadays!

It is but it's the main tool of your trade, and if you have It 5 years and replace it stands you at 80 quid a week, and plus your vans worth a few quid when you sell it.

 

[thebigfella]

I looked in to leasing a van but was told I would be heavily penalised at the end of the term if the interior was dirty

 

[plastererpeter]

I looked in to leasing a van but was told I would be heavily penalised at the end of the term if the interior was dirty

It def will de dirty trust me

 

[zolco]

go with the option to purchase it at the end of the lease, if its in good nick you can get good money for it put it towards a new one or if its manky just keep it

 

[User___removed]

Yes hp is the better option although the dearest

 

[Danny]

yeah I don't think plastering is the best trade for van leasing

Company cars have very little perks these days with tax :-(

 

[stiltwalker]

Ford transit, thought the are number 1 on the thieves hit list at the moment, might be one to avoid

 

[Rossi46]

That's the older shape though. Not heard of the new ones being robbed.

 

[thebearbeef]

Are better tax still on here?

Was talking to a joiner on a job today and he said he's getting a brand new Transit Custom delivered from Vanarama and told me that when he spoke to his accountant his accountant told him that the lease payments are 100% tax deductible???!!!
That can't be right surely or everyone would have one. It's a free van!
I looked into it a little and I think it's something to do with an annual investment allowance??! Does anyone know any more on this?

https://www.growthbusiness.co.uk/gr...e-annual-investment-allowance-explained.thtml

Thanks.

Its not free though because if for example the payment is £1000 over a year (for an easy example) you get that off your profit so your not paying tax on £1000....saves you £200 but the other £800 still comes out your pocket but the asset isn't yours for that £800

Unless im wrong. Have been before