[Bonkors]

There are many types of leases out there, purchase lease, finance lease etc. If any of you guys have leased a vehicle, which type have you taken out and why?

[LWC]

well confusing init 

[Bonkors]

I know, tell me about.

No seriously, someone, do tell me about it.....please?

[Clear Vision]

this might help a little???

http://www.discountcarleasing.co.uk/information/car_and_van_leasing_explained.aspx

[Londoner]

I have recently returned a leased vehicle at the end of its 3 year period and I have decided not to lease again. Instead I have ordered a new van for outright purchase over five years.
I got a really good discount from the local main agent as I am a trade buyer so I got "fleet" discount even though I am only buying one van. I get to choose the colour and extras I wanted which is a bonus.
Lease vans are expected to do high milage and get hammered so the price reflects that assumption. My van will do very little mileage and will never get hammered so I will get the benefit of it being properly looked after.

[LWC]

so doing it that way, is that 100% tax relief?

[rhys11]

yea i  want to know this as well??

[Ian W]

Anyone have a link to basic information on tax regarding vehicles? Might look into buying a van soon.

[tartan cleaning]

try this link  http://www.dsgvans.com/van_leasing/business/articles/which_finance_package/

[NWH]

I have over the last week spoken to my accountant and also looked into this myself,please note you do NOT get 100% back on a van however you buy it ever.If you are VAT registered you can claim 100% of the VAT back but for the balance you are still only able to claim a percentage of it normally 40% in the first year,if your not VAT registered the best way to buy a van and the cheapest for you is to buy it on HP over the period which you can afford,all this you can claim 100% back on the van is complete rubbish do you honestly think the government would stand for that.The only thing you will get back 100% is the VAT and to do that you have to be VAT registered,if your not VAT forget contract hire and lease.

[macmac]

I have over the last week spoken to my accountant and also looked into this myself,please note you do NOT get 100% back on a van however you buy it ever.If you are VAT registered you can claim 100% of the VAT back but for the balance you are still only able to claim a percentage of it normally 40% in the first year,if your not VAT registered the best way to buy a van and the cheapest for you is to buy it on HP over the period which you can afford,all this you can claim 100% back on the van is complete rubbish do you honestly think the government would stand for that.The only thing you will get back 100% is the VAT and to do that you have to be VAT registered,if your not VAT forget contract hire and lease.

You're not getting 100% of the purchase price back dude, this 100% thing referes to the amount of capitol that is tax deductable & depending how you buy/lease a van depends on how this will work out. e.g.

If you lease a van the monthly payments are 100% tax deductable, which means that you won't pay any tax on that amount. This is providing the van is used 100% for your business. so, if after a year you have paid out 1400 quid in lease payments, you won't pay income tax on that 1400 quid, which will (@ full amount) save you about 300 quid. It doesn't mean you get 1400 quid back
What people are refering to is an amount (or %) that you will not have to pay tax on & not an amount that the tax man gives you back (although that would be nice).

One example where a deduction (the amount to knock off) off your year end profits is useful for some is if that person recieves any benefits, like child tax credits/working tax credits etc. the lower your profit the more benefit you recieve in a lot of cases.
So it's not always just down to the amount of tax to be saved but also benefits to be gained.

tony