Open Association of Landscape Industries
Tax implications
Any help with tax implications on a new van not vat registered what can I claim back thanks for any help should I buy new or used ?
Replies to This Discussion
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Permalink Reply by Lawnman on
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I think we have a accountant who is a member of LJN but name escapes me.
I think your new van will count as a capital allowance and if costing less than 50k can be offset against profits to reduce your taxable income. That is assuming you are a sole trader, not sure of position if you are limited company.
Personaly if I could afford it would buy new. IMO vans are not like cars rarely owned by 1 careful owner, more likely to have been a workhorse and sold on because major repair /servicing bills on near horizon.
Not sure of merits of leasing a vehicle, one benefit I can see is not tieing up all your working capital, might be other tax benefits.
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PRO MemberPermalink Reply by Dan Frazer Gardening on -
I thought this depends on how you claim mileage. If you claim the 40 pence per mile this includes the vehicle cost therefore you can't claim the cost of buying the vehicle as an allowance. On the other hand, you can claim everything seperately, usinf fuel receipts etc.
Am I wrong on this?
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Permalink Reply by Andy Westacott on -
I've had a pick up on contract hire for 3 years now and had one for two before that. It's great in terms of the peace of mind you get from driving a new vehicle but I've found the cost pretty steep. I went for an option not including servicing and got hit for a £600 service this year which is a sting when you're handing it back a few months later.
I'd love to buy new but not an option so I'm trying to find a cheaper deal on what I really want next year, something like a cabstar. I agree with the comments above buying used vans/trucks is risky as they do get abused!
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Permalink Reply by Greenlawns on -
John, any problems if it get scratched etc, do you get hit for charges.
john grass roots home and garden said:the van is sign written and as long as you stick to there set milleage and the van is returned ok i
ts a good deal
Dan @ ad landscapes said:how does this work? cost etc and can you have the van sign written? i have been thinking about it, but unsure if i want the financial burden, but after my pickup blew up and now i am stuck with a escort van, it might be a good option
john grass roots home and garden said:been leasing a volkswagon caddy for nearly 2 years best thing ive done after bad second hand vans went kuput on me , got 1 more year left on the lease from january then i have the option of trading it in for another buying it outright or just givin it back , as i have only hit 14k on the clock iam seriously thinking of keeping it after the lease as i know iam the only one which has owned it .
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PRO MemberPermalink Reply by Gary RK on -
There's a couple of good threads on this subject:
http://www.landscapejuicenetwork.com/forum/topics/van-supermarkets?...
Re: vehicle condition on return.
The leasing company will have a written statement/guide on what is / is not acceptable for a car (ie private use) or a van (ie commercial use) - if they belong to the vehicle leasing association.
I would recommend you see and read this BEFORE you lease a van. Then you know what you can/can't get away with before you load it with seven kinds of cr*p !!
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Permalink Reply by Greenlawns on
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I have a friend who has a Citroen Dispatch, and he just hands it back after 3 years, no money changing hands,
I'll have to speak to him as I'm a scruffy bas**** and I'm worried about being hit with an excess, he pays £216 inc vat per month, he's had it signwritten and it came plylined, not a bad deal IMO .I'm thinking bout it.
He says cos your leasing it you can claim the whole lot back as a legitimate expense.
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PRO MemberPermalink Reply by Gary RK on -
Here's the wear & tear guide for my L200 - still classed as a 'car' for leasing purposes....
I did have one for the Vans as they do allow a bit more of a wear & tear allowance... - Attachments:
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Permalink Reply by Greenlawns on
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Sounds like a good deal to me, Caddy van a little too small for me though, as I carry 2 of everything, as we sometimes split up, if were doing a few in the same street, certainly always 2 Hayters in the van.
john grass roots home and garden said:i pay £205 a month and they ply lined it put parking sensors on it , and there are many on the road leased by them plastered with signs ,i will owe£3k at end so i will pay it off and have a low milleage van worth hopefully 7k hopefully and iam the only owner , should of done it years ago .. then i would of flushed away the memories of all those bad second hand vans
Greenlawns said:I have a friend who has a Citroen Dispatch, and he just hands it back after 3 years, no money changing hands,
I'll have to speak to him as I'm a scruffy bas**** and I'm worried about being hit with an excess, he pays £216 inc vat per month, he's had it signwritten and it came plylined, not a bad deal IMO .I'm thinking bout it.
He says cos your leasing it you can claim the whole lot back as a legitimate expense.
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Permalink Reply by Greenlawns on
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Think if i ditched a Hayter, mine are 56s, i might be able to get away with it, I would prefer a smaller van if I could get everything in, but Ive got 2 Hayters, 2 FS100 strimmers, 4 Blowers, 2 backpack and 2 hand ones, 2 Hs 80s, 1 Ms 170 chainsaw, and a Flymo, and all the usual handtools, I'd have to leave some stuff at home and sods law says I'd need it on the day i'd took it out ouf the van. Thinking of the Citroen or a Vauxhall Vivaro or the equivalent Nissan.
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PRO MemberPermalink Reply by Dan Frazer Gardening on -
What would be the case if you were to fit the van out with a good level of shelving, would holes in the ply etc be a consideration?
Might look into this in future, but the current van, which I paid £2k for, is going strong and I want/expect another 2 years from it which surely makes good economical sense (£700 a year instead of £2400 leasing).
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PRO MemberPermalink Reply by David Cox on -
Have you got shelving in the caddy? If so how have you found it? I'm thinking about shelving in a berlingo atm, similar size, so wondering how (if) you cope?
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Permalink Reply by chris on -
d
do you find the van big enough or do you use trailer john grass roots home and garden said:been leasing a volkswagon caddy for nearly 2 years best thing ive done after bad second hand vans went kuput on me , got 1 more year left on the lease from january then i have the option of trading it in for another buying it outright or just givin it back , as i have only hit 14k on the clock iam seriously thinking of keeping it after the lease as i know iam the only one which has owned it .
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