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Re: Buy or Lease?
« Reply #20 on: February 06, 2009, 08:46:09 pm »
Your vat reg then
A necessary evil from a few years back. We had 2 different businesses which own their own were below vat threshold, but the accountant told us we couldn't do that anymore. So by creating 'one' business we had to vat register.

Whens your new set up coming ???
Waiting for a reply back from Nick on that

Had a go with one monday and must say its a good portie
I haven't actually used one. I'm buying purely on the say so of some known experts of this and various other forums.

derek west

Re: Buy or Lease?
« Reply #21 on: February 06, 2009, 08:50:53 pm »
neil
i'd get a new accountant, sounds like he's told you that so he can charge you more, i darn't even think about my accountant for fear of him charging me.
derek

Re: Buy or Lease?
« Reply #22 on: February 06, 2009, 09:10:26 pm »
neil
i'd get a new accountant, sounds like he's told you that so he can charge you more, i darn't even think about my accountant for fear of him charging me.
derek

He was right. We had Willclean Window Cleaning run by my wife, and Willclean Carpet Cleaning run by me, both from the same address.
Therefore the Inland Revenue 'could' if they wished take the decision that they were one and the same (which I can understand) and as such they could have worked the figures back over the years and back dated the vat. That I din't need :o
Therefore we created a partnership of Willclean Cleaning Services.
It has it's benefits when getting commercial work as it helps with their accounting.

BTW just got an e-mail to say my new machine left the USA last night by air fraight ;D

derek west

Re: Buy or Lease?
« Reply #23 on: February 06, 2009, 09:24:44 pm »
neil.
don't wanna argue about it but your accountant is saying that a husband can't have a seperate business from his wife so long as they live together, if your wife was a mobile hairdresser would that be ok, then so is window cleaning, cleaning hair, cleaning windows,your accountant wants a slap. ;D
but
maybe he's right. who knows.

anyway too late now, once your in the dreaded VAT, its an absolute nightmare convincing them when you need to get out of it. they might as well move in with you.
derek

Re: Buy or Lease?
« Reply #24 on: February 06, 2009, 09:45:22 pm »
colin
you live in cornwall, its a no brainer what van mount you get imo.
derek

Darn tootin' ;)

clinton

Re: Buy or Lease?
« Reply #25 on: February 06, 2009, 09:56:59 pm »
Niel

The scorpion is a top machine mate so you wont be dis :)

Joe H

Re: Buy or Lease?
« Reply #26 on: February 06, 2009, 10:10:32 pm »
Neil
It was some years ago and rules may have chamged, or not,but my accountant said I could have a business, the wife could have a business and we could have a joint (partnership) business.
For a time I had a business and we had a partnership. Both were domestic cleaning but with clearly defined geographical areas. He was happy with this.

Re the Scorpion.
You wont be disappointed, a very efficient machine.
Nick provides a very good service and always there to help, and he is a hands on carpet cleaner himself using the machine and cleaning fluids he sells.

Shaun_Ashmore

  • Posts: 11382
Re: Buy or Lease?
« Reply #27 on: February 06, 2009, 10:26:03 pm »
Neil what machine have you ordered from teh states? was it easy enough and what carriage and import duty will you pay?

Shaun

Re: Buy or Lease?
« Reply #28 on: February 06, 2009, 10:51:19 pm »
ok which one of us has been drinking ;D
it's from Solutions which they import from USA

clinton

Re: Buy or Lease?
« Reply #29 on: February 06, 2009, 10:52:59 pm »
Niel

Might not be the drink ;)

Shaun_Ashmore

  • Posts: 11382
Re: Buy or Lease?
« Reply #30 on: February 06, 2009, 11:01:31 pm »
Don't drink, probably not read the thread properly, I'm still seething over a bounced cheque.

Shaun

clinton

Re: Buy or Lease?
« Reply #31 on: February 06, 2009, 11:06:23 pm »
Thats the trouble when you get a cheque like this and if you dont sort it it gets to you mate ::)


murky

  • Posts: 627
Re: Buy or Lease?
« Reply #32 on: February 09, 2009, 03:47:25 pm »
Colin,

Check and see if HM do leasing, I know that Altec at Royston do, but of course thats a long way to go for repairs etc, as Cornwall is to us up here in the south.

You will have to have an impeccable credit rating these days to get any form of credit.

Murky

Re: Buy or Lease?
« Reply #33 on: February 09, 2009, 05:10:52 pm »
I'm having a test drive with the Boxxer 318 this week.... I really need my work load to at least double before I would apply for a loan and I would be very sceptical about leasing one....

We'll see!!!

dave123

  • Posts: 234
Re: Buy or Lease?
« Reply #34 on: February 12, 2009, 08:53:35 am »
Colin
 Have you thought about remortgaging your house to get the finance?Don't tell them it's for business purposes though .At least that way you could then get your TM.

Re: Buy or Lease?
« Reply #35 on: February 12, 2009, 08:58:22 am »
We've just bought the house over a month ago and I know the wife wouldn't be comfortable with the idea.... But I'm seriously considering a business bank loan!

I'm not in too much of a hurry really, but certainly I want to be running a TM with the next 18-24 months!!!

I'll run the idea past the wife though just to get that look on her face..... Priceless!

Thanks for the idea Dave!!!

CARPET KNIGHTS

  • Posts: 883
Re: Buy or Lease?
« Reply #36 on: February 12, 2009, 09:03:13 am »
Just wandering why you feel so compelled to get a truckmount?

Cheers Goron

Lavinia

  • Posts: 83
Re: Buy or Lease?
« Reply #37 on: February 12, 2009, 09:48:12 am »
When I got my TM I took out a personall loan from the bank which the company pays back, to get a buisnes loan was a nightmare. I can also recomend going down the second hand rout as it will save you a fortune. A three year old TM will half the original price. Mine will be mine in April all brought and paid for. :)

Re: Buy or Lease?
« Reply #38 on: February 12, 2009, 02:38:12 pm »
Just wandering why you feel so compelled to get a truckmount?

Cheers Goron

Easily influenced perhaps ;D ;D ;D

You use one Goron don't you? Why did you go for a TM? I do a caravan site and it's a pain with a porty!!!!

clinton

Re: Buy or Lease?
« Reply #39 on: February 12, 2009, 03:40:20 pm »
Colin

I wouldnt rush into t mount mate ???

I am to thinking of upgrading ???

I did a job the other day and quoted a few weeks ago and got the job ahead of a t mount as the t mount could not get access.

Most of my commercial work is not an option for a t mount for security and access so thats putting me off ::)

Must say do like the prowler that dave p has and joes t mount.

Some work will be a pain to do collin and hassle ???