vans and car leasing questions

Andrew,

There is a personal tax on vans used privately, but it isnt a huge amount (tax on a max of £500 benefit, ie just over £100 tax for a basic rate tax payer). So long as this vehicles is classed as a van and not a car you should be ok. The rules on vans are changing so beware what you read on websites as it could be out of date. It is well worth making sure you know what you are doing with this, Ie speak to your accountant so they can run through the implications with you.

If you are feeling brave see IR here: http://www.hmrc.gov.uk/vans/

Regards,

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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773

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Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT

Cars tend to work out better in your own name from a tax front unless they are very low emissions - less paperwork to get through too!

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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773

---------------------------
Your indispensable guide to Small Business Bookkeeping, Self-Assessment & VAT