Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: DASERVICES on July 28, 2005, 04:34:10 pm

Title: Lease or Buy Van
Post by: DASERVICES on July 28, 2005, 04:34:10 pm

  Guys,

  Any suggestions on the above subject.

  Still have not made my mind up , to buy a second hand van or lease a van.

  Does anyone know how you put leasing a van through your accounts. Can
  you claim the cost of leasing your van plus 40p per mile costs.

  Trying to find the best option so the tax man gets less and I end up with
  more.

  Your thoughts appreciated.

  Cheers

  Doug

Title: Re: Lease or Buy Van
Post by: The Bear on July 28, 2005, 04:38:47 pm

Check with your accountant first, as I think leasing is only viable when VAT registered.

Title: Re: Lease or Buy Van
Post by: DASERVICES on July 28, 2005, 04:45:10 pm

  Thanks, but I do my own accounts. I think they tend to rip you off, from
  talking to other window cleaners their accountants ask them to go the
  receipt rule on fuel.

  I go the 40p per mile route and claimed £5k+ last tax year, the other guys
  only claimed around £2k. The accountant then rips them off going through
  their receipts in the time taken.

Title: Re: Lease or Buy Van
Post by: The Bear on July 28, 2005, 05:48:36 pm

Sorry to here that. My accountant does the 40p rule and charges me about £130.

What he saves me vastly outweighs that.

Title: Re: Lease or Buy Van
Post by: Davindo Cleana on July 28, 2005, 08:55:10 pm

It's a convenient thing to lease if you are not bothered about minimum tie ins and when they charge you for all the dings and scratches after you send it back

On a bit of a tangent - if anyone hires a van for whatever reason, check to see the spare wheel is there - just heard about that happening to some mates on two occasions - may be a scam