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Hi All,
I'm now self employed and vat registered. I need a car for work other than the work's van and I'm thinking of leasing one or......?
If there are any accountants who can give me some advise on weather it's best to lease, let the company buy a car,if you can do that?) or a personnel purchase it would be appreciated. And also advise/cheapest way to pay less tax!
Thanks.
Go see your accountant is the best advice; we run a Ltd Co and have just changed vehicles to a contract hire. Business benefits from the VAT reclaim and the payments are made from Directors Loan Account (and covered with subsequent dividends) to avoid the BiK stuff. Works for us and much better than a lease, or purchase or private ownership / mileage.