[stevegunn]

Ford Transit new shape - Has anyone had any trouble with their vehicle mine is just out of warranty but ford are going to repair my vehicle foc as they seem to be having a lot of problems with the new shaped transits plus I know the service manager so he put me in touch with the right people to speak to at ford.

[Matt Read]

i'm a sole trader with four year old van and my capital allowances on it are dwindling away !

i'm considering a new van but this time on contract hire,,i've done the maths and tax advantage on buying outright or contract hire are virtually the same,does anyone have an opinion on hire vehicles for a one man business...it seems i'd have a better quality van and can hand it back after 3 years for another new one ! i wouldn't need a van without the business so i'm almost convinced but i have a nagging doubt i'm missing something.

thanx

[Ian Gourlay]

Have you considered claiming first 10,000 miles at 40p all other milage at 25p How would this work out compared with running expenses depreciation method.

As I am not as rich as you I have to wait until someone like yourself casts of their vehicle at 4 years, .

So i find the 40p 25p method very benificial.


Regards

Ian

[Matt Read]

Thanks ian,
i wasn't aware of the mileage angle...will check it out.
I am not rich by the way ! This is my 11th year carpet cleaning and the van was a big gamble 4 years ago but it has paid off...presents a good image and it is a major tool of the business and i do spend half my life in the van !

[mark_roberts]

Would need to look at the figures but if it where me I would buy a van only 2 year old or ex demo but in first class condition and look after it for the four years and then sell it as they tend to hold there value better than a car.

Would hate to spend thousands only at the end of the day to having nothing to show for it.

If you have emplyees then the hire may be better.

Mark

[David_Annable]

I paid vat on my last van.

If i were looking for a newer van I would buy a 2 year old van from a private seller, someone else who uses it for work but isnt vat regisered.

I would borrow the money at 6%, there are lots of good deals out there. Dont borrow money from the bank.

Dave

[Ken Wainwright]

With any leasing type agreement for a one man business, have you thought about that little word with big consequences? I'm talking about IF

If you buy a van and you are off work for a few months (it's happened to me twice)  if you can't keep up the repayments on the loan, you always have the option to sell it. However, with many lease agreements, if you're taken ill, have an accident, loose your driving license etc. then you'll have a vehicle parked on your drive, no incoming but still outgoing payments to be made. So check the small print of your agreement, and even then check that it applies to an individual as well as to a company.

Safe and happy cleaning
Ken

[martin19842]

hi there,

we have always been advised not to buy vans, as their value after three years is horrendous.

we have our vans on a 12 month deal, 25,000 miles, one service to pay for, nothing else, and then they just swap them out with a new one every 12 months.

good thing is that the vans are always in good condition.

regards

martin

[Dave_Lee]

Hi All,
Whilst leasing anything can be a good way to purchase (I have two leas deals) as Ken has said 'What If.' If you are off work and not earning and cannot afford the lease payments, the goods WILL be reposessed, you will be charged for extra expenses, you will no longer have the goods but you will have to pay ALL the payments according to the original agreement. The moral is, lease ONLY if you are sure you will be able to meet ALL the payments in ANY circumstances.
Dave.

[Ian Gourlay]

Ive been think of entering into some Lease deals.

But could anyone tell me if lease companies with deal with newly formed Ltd companies

Because if I was aquiring new vans and equipment you are talking many thousands of pounds and I feel this could be away of sheilding family from what if.

Plus i want to get in situation where everythinh does not depend on me.

In other words I have an Enterprise , not a job.

[Ian Rochester]

Ian G,

I think the mileage limit of 10000 miles @ 40p then down to 25p has gone now, all mileage regardless can be claimed at 40p per mile, check it out!

Ian

[Ian Gourlay]

Ian the Lionheart,

When I phoned to do my Self Assesment I was told that the rates had not changed.

If you look on guv Uk its vety confusing as it has outdated charts.

You could be right as person I talked to had a job to find info as I had also looking on Web Site


However I will check again

[Macarthur]

Am looking to buy my first ever van hopefully in the next month or two.  My sisters husbands 1 and a bit year old Ford Transit Connect. Only a small one I know, but is enough for me and easier to park etc. Has around 30.000 miles on clock and he is selling to me for around £5000.  He is VAT registered at the moment.

Nigel.

[Len Gribble]

Nigel

Have to agree one of my sister’s nbr 5 husband its gets confusing.

£5k is that inclusive or plus Vat?

Len

[Macarthur]

Hi Len,

As far as I know this price will include VAT. I will be speaking to him again shortly, I know he needs to sell it, he is a Self employed Land Surveyor by trade and one of his main contracts will be taking him on full time and providing him with a company vehicle. His dad works for Ford so got him a good deal price wise on it in the first place, can only hope he will give me a good deal.

Nigel.

[a55essor]

lionheart

You are correct it's 40p alround, that's what I was told by the business side of the inland-revenue.

Kev