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Posted: Sun Oct 10, 2010 8:22 pm
by IanMelb
We're a bit sick of the money-pit that is our family car so thinking of changing.
The Spousal Overunit has, in the last few months, become self-employed and now does a lot of driving hither and thither for work.
Does anyone know if there are reasonable tax benefits of getting a car on a lease or contract hire?
Can it include maintenance, parts, tyres, etc?
We currently seem to be spending 2.5-3k pa keeping the other one on the road and it can't be worth more than a grand now.
Thunks?
Posted: Sun Oct 10, 2010 8:30 pm
by IanMelb
Should add that she's not VAT registered ...
Posted: Sun Oct 10, 2010 8:52 pm
by rab1
if your vat registered and can claim its for the business. :p :;):
Posted: Sun Oct 10, 2010 8:54 pm
by rab1
sorry just read the vat part, leasing is tax deductible but vat registered is better. 
Posted: Mon Oct 11, 2010 2:23 am
by cookiewales
IanMelb wrote:We're a bit sick of the money-pit that is our family car so thinking of changing.
The Spousal Overunit has, in the last few months, become self-employed and now does a lot of driving hither and thither for work.
Does anyone know if there are reasonable tax benefits of getting a car on a lease or contract hire?
Can it include maintenance, parts, tyres, etc?
We currently seem to be spending 2.5-3k pa keeping the other one on the road and it can't be worth more than a grand now.
Thunks?
try these ian they all do personel lease now so dont need to be vat reg give them milage per year look at 2year deal you wont need to spend any money on a new car www.thebestcardeals.co.uk also try ovl leasing have used them cheers cookie :;):www.thebestcardeals.co.uk/?dm_i=7J,9LA9,ZVEE4,PLAP,1
Edited By cookiewales on 1286760328
Posted: Mon Oct 11, 2010 6:58 am
by seanandruby
my wife leases one, she is just waiting for her second one. Had the other 3 years . All work, services etc done by firm. You are limited to mileage but she always goes over. Only thing is the monthly payment but you allow for that and tend to forget about it/as another payout.
Posted: Mon Oct 11, 2010 6:29 pm
by Injured
Your best bet is to speak to your accountant to see which way is best for you.
My accountant told me cos I not vat registered that I would lose out if I leased so for me it best to buy.
Posted: Mon Oct 11, 2010 8:32 pm
by pickwell paving
my father in law works for mercedes and he said that the vast majority of new cars that they send out are leased as the price you pay every month is about equal to depriciation
Posted: Mon Oct 11, 2010 8:38 pm
by flowjoe
With these new lifetime guarantees coming through that's the way it will be heading, one regular payment going out, serviced at the main dealer and changing the model every 3/5 years.
Posted: Tue Oct 12, 2010 5:46 pm
by rab1
and when its 5 years old, rab will buy it and run it until it dies.
Posted: Tue Oct 12, 2010 8:41 pm
by IanMelb
Cheers everyone