[Stoots]

So for those that employ

Do you buy brand new vehicles for your business or do you buy older vehicles ?

Whats the trade off between buying nice new shiny vans with great graphics etc vs buying something older and not as flash.

Looking to buy a second van and not sure how much to spend ? 

I guess as long as its clean and tidy it doesnt matter too much, but then image is important too...I mean how would a potential employee feel about being given an old shed lol doesn't seem very professional.

[zesty]

Thought you worked on ya jack jones, Adam?

[Stoots]

Thought you worked on ya jack jones, Adam?

I do at the moment. Can't make my mind up mate. Employ and want to be back on my own them get fed up and want to expand lol.

It's torture 😂

[zesty]

Hated it when I employed.

I had two employees, (not at the same time) and ending up missing working on my own.

For now, I’m sticking with me, myself and I!

[Smudger]

A mixture - I have brand new from when the relay dropped to below 15k

But normally I buy vans that are about 5 years old - one owner full service and low mileage where poss - this way I feel you get more van for your money, depreciation is less overall  and they are still tidy and smart

As with anything employing, don't be to emotional over it should the worst happen, like a prang - that's what's insurance ce is for

Darran

[Stoots]

Hated it when I employed.

I had two employees, (not at the same time) and ending up missing working on my own.

For now, I’m sticking with me, myself and I!

Yeh, I didn't like it lol

But then I get bored on my own and I don't particularly enjoy that either, it's ok for a few days but I find it becomes a slog. Bit fed up with cleaning glass everyday tbh.

There's a few things I would do differently next time.

[windowswashed]

Invest in property to let and get into that. 

[Stoots]

Invest in property to let and get into that.

Can't even get a mortgage mate so no chance of that.

[dazmond]

Invest in property to let and get into that.

it only takes one bad tenant who doesnt pay the rent  and trashes your property when they finally get evicted to mess things up for you....i know lots of people this has happened too unfortunately.......

[Richard iSparkle]

So for those that employ

Do you buy brand new vehicles for your business or do you buy older vehicles ?

Whats the trade off between buying nice new shiny vans with great graphics etc vs buying something older and not as flash.

Looking to buy a second van and not sure how much to spend ? 

I guess as long as its clean and tidy it doesnt matter too much, but then image is important too...I mean how would a potential employee feel about being given an old shed lol doesn't seem very professional.

i lease all mine on a 2 or 3 year lease

[Splash & dash]

Invest in property to let and get into that.

it only takes one bad tenant who doesnt pay the rent  and trashes your property when they finally get evicted to mess things up for you....i know lots of people this has happened too unfortunately.......

Not if you have proper managed tenants through an agency you don’t ,the property will be inspected every three months with a full written report with photos of ever room and outside areas any issues are very quickly discovered , checking potential tenants references along with a substantial deposit  , I have never had any issues at all I personally interview all applicants and I make the decision who will be allowed to rent the property , them the agency take over and deal with the rest , never had a single problem all my tenants are very nice people with good jobs .

[windowswashed]

Invest in property to let and get into that.

it only takes one bad tenant who doesnt pay the rent  and trashes your property when they finally get evicted to mess things up for you....i know lots of people this has happened too unfortunately.......
[/q

Mortgage paid off,  intend buying a second property to rent out

[AuRavelling79]

On property rental a top quality agent is key. I got mine through a recommendation from a customer back in 2011 and he got good tenants. We have had three different tenants and none have missed a payment and the longest gap we had when one left was ten days.

Obviously a good tenant can 'go bad' but s we have been very lucky even during Covid 19 so far.

[NWH]

From what I’ve been reading on here some get sent out on a 3 wheeled bike towing a water bowser behind it and told not to come back till they’ve cleaned 25-30 houses 😂,then it’s back in the kennel till the next morning.

[Stoots]

From what I’ve been reading on here some get sent out on a 3 wheeled bike towing a water bowser behind it and told not to come back till they’ve cleaned 25-30 houses 😂,then it’s back in the kennel till the next morning.

Fooking nuts you are 

[NWH]

🐕 🐶 🐕 lol 😂

[P @ F]

Invest in property to let and get into that.

it only takes one bad tenant who doesnt pay the rent  and trashes your property when they finally get evicted to mess things up for you....i know lots of people this has happened too unfortunately.......

This happened to me , had to refurb the whole house ,  came out the other end with a massive loss

[Rogue Trader]

It's worth noting that buying ,a commercial vehicle on hp u get 100% tax relief in the first year PLUS interest on ongoing finance. So buying a new van is not such a bad idea. That's why a lot of big companies change their vans every 3 years and buy new. No mots , less likely to break down and look great.

[NWH]

You are better off writing it off over a period of time rather than doing it all in the first year my accountant told me,I did that 1 year and then a couple of years later got a massive tax bill because of it.

[Stoots]

You are better off writing it off over a period of time rather than doing it all in the first year my accountant told me,I did that 1 year and then a couple of years later got a massive tax bill because of it.

Not sure, I know you can write the whole thing off in the first year. Will have to ask.

Been looking for a van this past week, can't find owt that's not overpriced or a bag of poope.

[Rogue Trader]

If u sell it before 3 years it's not efficient but 3 years is the sweet spot so I'm told hence big companies keep buying after 3 years.

[Stoots]

Well I won't be buying a new one for someone to smash up.

Just going to get a little old thing that looks clean.

[NWH]

They sell them after 3 years because thats when the finance ends or lease,you can write it all off in year 1 I’ve done it,if you want to put a big amount against your Tax it gives you a breather from paying it the following year but you will get a larger bill the next time round.
I did it some years ago claimed 100% and I purchased the van for cash brand new I had a terrible accountant about 18 months 2 years later I had a 15 grand Tax bill,10 in the January 5 in the July this was about 10-11 years ago went away over Xmas spent a fortune and got this update about my Tax on about the 10th of that January due to the oversight lol,like I say terrible accounting.

[Stoots]

They sell them after 3 years because thats when the finance ends or lease,you can write it all off in year 1 I’ve done it,if you want to put a big amount against your Tax it gives you a breather from paying it the following year but you will get a larger bill the next time round.
I did it some years ago claimed 100% and I purchased the van for cash brand new I had a terrible accountant about 18 months 2 years later I had a 15 grand Tax bill,10 in the January 5 in the July this was about 10-11 years ago went away over Xmas spent a fortune and got this update about my Tax on about the 10th of that January due to the oversight lol,like I say terrible accounting.

Why would you get a massive bill the next year.

Surely (as an example)

You make 50k profit, buy a 10k van leaves you 40k taxable profit

Next year you make 50k profit, don't buy a van have 50k taxable profit.

How can a tax bill just appear out of thin air?

Of course if you don't have the expense then the tax bill will be higher but how is that a surprise?

What am I missing

[֍Winp®oClean֍]

They sell them after 3 years because thats when the finance ends or lease,you can write it all off in year 1 I’ve done it,if you want to put a big amount against your Tax it gives you a breather from paying it the following year but you will get a larger bill the next time round.
I did it some years ago claimed 100% and I purchased the van for cash brand new I had a terrible accountant about 18 months 2 years later I had a 15 grand Tax bill,10 in the January 5 in the July this was about 10-11 years ago went away over Xmas spent a fortune and got this update about my Tax on about the 10th of that January due to the oversight lol,like I say terrible accounting.

Why would you get a massive bill the next year.

Surely (as an example)

You make 50k profit, buy a 10k van leaves you 40k taxable profit

Next year you make 50k profit, don't buy a van have 50k taxable profit.

How can a tax bill just appear out of thin air?

Of course if you don't have the expense then the tax bill will be higher but how is that a surprise?

What am I missing

It's all to do with payments on account, overpaying, underpaying, then catching back up.😆
He should have seen it coming to be honest, it pays to remain clued up with your accounts whether you use an accountant or not. He should have been putting more money aside in that particular year to cover the 'catch up' year.👍

[NWH]

Correct Wipemecleanplease that’s spot on although I had the money it was a shock finding that out 2 weeks away from the deadline,like I said shocking accountants I went with another 1 which was no better my fees went from 600 to 1200 a year. After finally finding a decent accountant he looked over my accounts pointed out that certain things weren’t put against my Tax over 1-2 previous Tax years due to these incompetent people,he got me 6k paid back into my account from HMRC. Just because these people talk with a plum in there mouths and wear smart suits means nothing,they must have done that hour long course 🤣🤣.

[Rogue Trader]

You get full rebate in first year for van purchase instead of tapered rebate over 3 years or so. Meaning if u sell it before the time frame you  have to pay back the front loaded rebate. And that would equate to a higher tax bill.

[Rogue Trader]

So it's a good move if u r planning to keep the van for 3 ish years. U r getting a nice van and a large chunk off your tax. Win win

[Rogue Trader]

Just read back what u said NWH , not sure why u would have a higher tax bill unless u sold the van. I done this twice in 2015 and once in 2017. No change for me in more recent tax bills other than big tax saving in each of those years.

[Rogue Trader]

If you are VAT registered after vat reclaim and tax rebate in first year on the Annual Investment Allowance scheme a £20k can will end up costing you £11k

[NWH]

I had this discussion with the new chap I use we spoke about buying vehicles etc he advised that you claim the Tax over years not in 1 go,I’ll go with what he says like I said after meeting him for 30 minutes he looked over my accounts and said by looking at this you are owed money leave it with me,I got an email a week later telling me I was going to get 6k returned to me.
I don’t know whether things have changed when I purchased a van for cash my cash not a loan I wrote all the cost off in 1 go,that was the time I got a bigger Tax bill say 18 months later this was about 12-13 years ago now.

[֍Winp®oClean֍]

The result wasn't more tax being paid than owed in total, it was the same total amount being payed at different times in unequal values. Unless you apply to increase and or reduced payments on account (which his accountant obviously didn't do) then this is the result- you pay substantially less one year (via reduced liability and refund on previous year) then more the year after as your POA is estimated on the previous years figures. Then the year after you are back to a more balanced, more equal set of liability amounts.

[Don Kee]

I had a 15 grand Tax bill,10 in the January 5 in the July this was about 10-11 years ago

he looked over my accounts and said by looking at this you are owed money leave it with me,I got an email a week later telling me I was going to get 6k returned to me.

You paid £15k in tax and HMRC paid you £6k of it back in a rebate?

Hmmmmm...I wont be harsh and say what I’m thinking but things are getting a little smelly on this topic...

[JandS]

Try Vanmonster....there's one at Outwood or their website which covers all their outlets.

[NWH]

I had a 15 grand Tax bill,10 in the January 5 in the July this was about 10-11 years ago

he looked over my accounts and said by looking at this you are owed money leave it with me,I got an email a week later telling me I was going to get 6k returned to me.

You paid £15k in tax and HMRC paid you £6k of it back in a rebate?

Hmmmmm...I wont be harsh and say what I’m thinking but things are getting a little smelly on this topic...

The van purchase was 12-13 years ago the new accountant got me that money back last year.

[NWH]

The 2 are completely separate things 🤣🤣 years and years apart.

[Stoots]

Try Vanmonster....there's one at Outwood or their website which covers all their outlets.

Cheers, had a van from there before.

I'm tight thought, I'll get one private I don't like paying VAT  that I can't claim back

[NWH]

Get a good van a VW or similar they last years you’ll pay more obviously but once you own it you’ll still get years out of it.
I’d stay away from the usual rubbish out there you might get a new van for 13-14 grand but there rubbish is the main.

[Stoots]

Was thinking about a little caddy.

Expensive though for age/mileage

[High-Tower]

Was thinking about a little caddy.

Expensive though for age/mileage

Caddy’s are great little vans. The 2.0SDI are incredibly reliable and sloooooowwwww. The 1.9TDI are the best in my opinion reliable, and still fairly simple, no dpf, also I think they have a slightly higher payload than some variants.
The early 1.6TDI have a common issue with needing to replace the injectors.