> Self employed van leasing expenses?

Self employed van leasing expenses?

Posted at: 2014-12-08 
Yes you can. The vehicle is a legitimate business expense and as such would be tax deductible. If you are VAT registered, some, if not all of the VAT is also reclaimable (depending on business/private use).

I would urge you to look carefully at leasing costs though. Vans often tend to get a hard life, and leasing companys basically look upon the vehicle basically as 'scrap' after 3 years, or 'nill' value. The amount 'you' pay will be based on this principle. If you are a 'one man band' and look after your vehicles, you're van will last maybe many years longer. You may well be better off 'purchasing' it on a loan.

Leasing and Contract hire are now very complex things with individual 'deals' being designed for 'you're' particular needs. Speak to a recomended lease company and ask what they can do for 'you'. Also speak to your accountant.

Then you can make your decisions.

Good luck !

I am self employed joiner and my van had just broke and its going to cost 700 pound to fix am thinking am i better of leasing can i claim leasing a van as monthly expense ? I only use the van for work as i have a car i prefer to use on the weekend