bloodnock wrote:
mancityfan wrote:
roythebus wrote:
I know leasing isn't the same as renting or buying; at least with leasing a car I have the benefit of a new car every couple of years with a warranty if anything goes wrong. with an older car there's the constant problem of repairs and possibly reliability. If you're VAT registered there's the benefit that you get the vat back on the lease fees, and the lease fees are deductible for tax purposes.
And full tax deductable.
And what of we lesser mortals who are not VAT registered, are there any benefits for us in Leasing a vehicle?
if you are VAT registered and its £200/month + £40 VAT you get £40 back (ish) and 22% of £200
against your tax = £44if your not VAT registered you get 22% of £240/month
against your tax = £52.80Lease is 100% tax deductable at source, i.e. monthly whereas a purchase (capital allowance) is 40% year one then 20% over the next three years
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