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lee_dewing

  • Posts: 3124
Leaseing a van
« on: August 28, 2009, 03:08:46 pm »
I am a sole trader NOT vat registered.

I spoke to a salesman from citroen and he said that there was nothing i could put down as expenses to the taxman :-/

I thought that was the whole reason of leaseing; a reliable van under warranty, and what it costs you is offet against your incomings?

Help please as i'm looking tomorrow, can't get my van back from menders til tuesday :'(
Pleasure in the job puts perfection in the work.     - Aristotle

EZclean

  • Posts: 857
Re: Leaseing a van
« Reply #1 on: August 28, 2009, 04:32:26 pm »
load of rubbish.
you cant claim the vat back if your not vat regd.
but anything that you hire for your business is 100% tax deductable. if used solely for business purposes.
if you run around in it socially, then 80-90% deductable or more.
EZclean - Cleaner Than Water

Mike #1

  • Posts: 4668
Re: Leaseing a van
« Reply #2 on: August 28, 2009, 04:53:41 pm »
see an accountant there is some kind of tax deal at the moment on purchase a van upto £6,000

AuRavelling79

  • Posts: 26686
Re: Leaseing a van
« Reply #3 on: August 28, 2009, 05:02:46 pm »
I am self-employed and not registered for vat.

I got my doblo van on Oct 06 from vansdirect and it is on a four year lease of £175 per month inc vat and which monthly payments are chargeable to tax (20% at my rate). At the end is a balloon rental which "goes" against the value of the van if I sell it or trade it in.

Citroen salesman - ask advice for his vehicles.
Tax vis a vis leasing - ask taxman!
It's a game of three halves!

psbruce

  • Posts: 22
Re: Leaseing a van
« Reply #4 on: August 28, 2009, 06:27:11 pm »
Beware of the type of lease. There are a few. Contract hire gives you a fixed mileage per annum  - if you go over it then you pay a penalty fee per mile at the end of the contract. Also if the van goes back after the hire term in a leess than average condition you have to pay to put it back to average condition. This can cost £100's.

I always get vans on a Finance Lease. I pay a fixed ammount per month and at the end of 3 years sell the van myself. I have an agreed payment to make to the finance company and usually clear enough profit in the sale to pay a deposit on the next one. This was advised by my accountant as I can claim more allowances against tax than contract lease which is just a business cost paid for by your business. Best to talk to your accountant.
Nothing beats hard work!!!!

Re: Leaseing a van
« Reply #5 on: August 28, 2009, 06:38:10 pm »
I bolt my tank down in my van. There must be a way you can do this in a lease vehicle...
How do you do this in a van you can't drill holes in....

dave.e

Re: Leaseing a van
« Reply #6 on: August 28, 2009, 06:53:49 pm »
I bolt my tank down in my van. There must be a way you can do this in a lease vehicle...
How do you do this in a van you can't drill holes in....


hoo says you can not drill holes in a lease van. i had a contract lease Peugeot partner 2.0 hdi and they said yes you can drill holes so long as when you return the vehicle the holes are plugged up. Dave

matt

Re: Leaseing a van
« Reply #7 on: August 28, 2009, 06:55:49 pm »
I bolt my tank down in my van. There must be a way you can do this in a lease vehicle...
How do you do this in a van you can't drill holes in....

just return van with rubber bungs in holes, good enough for most

easycleaner

  • Posts: 244
Re: Leaseing a van
« Reply #8 on: August 28, 2009, 07:08:51 pm »
Check the type of deal thats on offer. Go to different dealers. Maybe go for a lease purchase, at the end of the deal you pay about £50 sometimes and the van is yours. Dont worry about drilling holes the van will be a 'book right off' the garage get their money straight away and the finance company only want you pay the agreement up. Shop around you may be surprised.
Mart

matt

Re: Leaseing a van
« Reply #9 on: August 28, 2009, 07:10:07 pm »
Check the type of deal thats on offer. Go to different dealers. Maybe go for a lease purchase, at the end of the deal you pay about £50 sometimes and the van is yours. Dont worry about drilling holes the van will be a 'book right off' the garage get their money straight away and the finance company only want you pay the agreement up. Shop around you may be surprised.
Mart

i have looked at lease purchase and cannot find anything with a payment under 4 K


Platinum NW

  • Posts: 294
Re: Leaseing a van
« Reply #10 on: August 28, 2009, 07:29:03 pm »
does anyone know of an age restriction or minimum age limit for contract hire

Re: Leaseing a van
« Reply #11 on: August 28, 2009, 07:41:35 pm »
Oh good. Back in the dark days of employment, when we returned company cars, the lease co nail the company I worked at for every little scratch and ding.
Might be worth looking at in that case...

Darren O

  • Posts: 1322
Re: Leaseing a van
« Reply #12 on: August 28, 2009, 09:06:06 pm »
Ive got just over a year left on my 4 year lease for my Nissan Primaster ive got a balloon payment i think it will be about £5000+ if i want to keep the van when the lease is finished i take it i just pay the leasing company the £5000+ balloon payment and the van is mine.

tony talbot

  • Posts: 258
Re: Leaseing a van
« Reply #13 on: August 28, 2009, 09:17:59 pm »
any van you lease take pictures of any digs and dinks it may have, so they can't do you when you return it

macmac

Re: Leaseing a van
« Reply #14 on: August 28, 2009, 10:18:34 pm »
If you want to buy vauxhall are doing 4 years 0% with 20% deposit at mo'.

s.hughes

Re: Leaseing a van
« Reply #15 on: August 28, 2009, 10:35:38 pm »
Ive got just over a year left on my 4 year lease for my Nissan Primaster ive got a balloon payment i think it will be about £5000+ if i want to keep the van when the lease is finished i take it i just pay the leasing company the £5000+ balloon payment and the van is mine.
Thats all I would pay for a van false stop