Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Stephen.C on November 24, 2013, 12:52:26 pm
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What is the most tax efficient way to buy a van. Thanks
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are we talking new new,or second hand new ;)
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Probably about a year old Frank.
Looking to replace around March.
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Leasing is the most tax efficient way - the van is never actually yours (though I had one on lease and after the end of the period I just had to pay a nominal amount, about £10 a year from memory - although technically I had to return the van to the leasing company when I'd finished with it, they didn't want it back ;D).
With leasing all payments are tax deductible as you are 'renting' the van as opposed to buying it.
I don't know if you can do it on used vans.
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With leasing all payments are tax deductible
What isn't tax deductible if you buy a van compared to lease it, that makes it more tax efficient?
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What is the most tax efficient way to buy a van. Thanks
Hi Stephen,
If you've got yourself an accountant he'll be able to advise best as he'll see your total financial situation regarding write-down allowances, annual investment allowances etc.
If you haven't got one yet it would, in my opinion anyway, be well worth your time to find a local chap. If you shop around you should be able to find a qualified accountant who'll do your accounts and tax return for c. £120-£150 inc VAT. That's of course if you have kept pretty good records in the meantime!
Good luck with the van man!
Kev
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I do have a accountant, but a leasing company will not allow me to fit a system. They have said the van will be unsellable.
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What isn't tax deductible if you buy a van compared to lease it, that makes it more tax efficient?
Think its just 25% a year you can claim then and 100% on the interest if you have it on finance. as apposed to leasing if you pay £200 a month to lease all of that can be claimed.
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I do have a accountant, but a leasing company will not allow me to fit a system. They have said the van will be unsellable.
That's odd - 'cos you can get a van fitted out with a system from Ionic and they do leasing packages as well. It must mean that some leasing companies will let you fit a system...
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I do have a accountant, but a leasing company will not allow me to fit a system. They have said the van will be unsellable.
That's odd - 'cos you can get a van fitted out with a system from Ionic and they do leasing packages as well. It must mean that some leasing companies will let you fit a system...
Yes I know the guy I was dealing with was a complete cock.