Hi,
I need to know the best way to go about buying a van for my business,i have been told so much incorrect information by people so really do need someone in the know about this.
This will be a van used 100% for the business
I am not vat registered
It will be brand new and i will need the van to have an unrestricted mileage.
Please can someone first of all tell me the difference between Hire Purchase,Lease Purchase,Contract Hire,Finance Lease and Full Payout Finance Lease.
I would also need to know the best option for me and the most tax efficient way to proceed.
I have been told a Finance Lease that the monthly figure plus vat is 100% tax deductible even though im not vat registered.
Any advice would be great but please explain like your explain it to a child lol
Many Thanks
Gavin
I need to know the best way to go about buying a van for my business,i have been told so much incorrect information by people so really do need someone in the know about this.
This will be a van used 100% for the business
I am not vat registered
It will be brand new and i will need the van to have an unrestricted mileage.
Please can someone first of all tell me the difference between Hire Purchase,Lease Purchase,Contract Hire,Finance Lease and Full Payout Finance Lease.
I would also need to know the best option for me and the most tax efficient way to proceed.
I have been told a Finance Lease that the monthly figure plus vat is 100% tax deductible even though im not vat registered.
Any advice would be great but please explain like your explain it to a child lol
Many Thanks
Gavin