Car leasing

[IR35FanClub]

If you're outside IR35 get yourself a Toyota Aygo on a lease. 109g/km CO2 = low rate of company tax, and you can also claim something called a 100% First year captial allowance (on any car in Band B or below). Get your accountant to explain that one and do the maths. Check some links of rthe WhatCar website for borkers - but DriveTheDeal usually have some good offers.

I say the Toyota (not the Citroen C1 or Pug 107 which are the same car with a differnt badge) as it gets good mag and consumer reviews, does over 50mpg, is petrol (so 10p/litre cheaper to run than a diesel) and best of all OTR price is only £6500-7500 depending on which model you fancy (Platinum is would be my choice). Road tax from next year will be £30. The low list and CO2 drops your "car benefit" tax bill significantly and gives you a reliable car for about £150/month. Despite it's tiny size it can also fit 4x6 ft adults and a weeks shopping - although the ubiquitous set of golf clubs measure would reduce you to 3 adults ;-)

Or if you're loaded get a BMW 320d Coupe with efficient Dynamics 131g/km. But a list of over £30k by the time you've added your options. (4 Aygos!)

[blacjac]

My chartered accountants have advised this course of action to me as I've been snared by the 2 year rule. And they're no arsewipe company either.

Of course they may be going with the hope that HMRC dont look too closely at the certified accounts.

Its a ballache closing one company, starting another, closing one bank account and opening another etc but if you want the dosh, gotta have a little pain.

So there!

Your chartered accountants that are no arsewipe company are wrong.

So there!

[contractor79]

Oh and you can continue to claim the VAT element on your fuel even if caught by the 2 year rule providing you pay VAT. But then again, who doesnt?

that's not what I was advised

[chris79]

Hmm I'd be careful of that, isn't that similar to the old "If I change umbrella company will the 2 year rule reset?"...

[BolshieBastard]

Oh and you can continue to claim the VAT element on your fuel even if caught by the 2 year rule providing you pay VAT. But then again, who doesnt?

[BolshieBastard]

That is not the case. The 2 year rule is a personal/geographical thing. If you lived in say Leeds and worked in the City of London for 10 years for a succession of companies you could only claim for the first 2 years (or when you first knew you would be at a location for more than 2 years).

My chartered accountants have advised this course of action to me as I've been snared by the 2 year rule. And they're no arsewipe company either.

Of course they may be going with the hope that HMRC dont look too closely at the certified accounts.

Its a ballache closing one company, starting another, closing one bank account and opening another etc but if you want the dosh, gotta have a little pain.

So there!

[Archangel]

Close your current ltd co and create a new one. You can then claim expenses for another 2 years.

That is not the case. The 2 year rule is a personal/geographical thing. If you lived in say Leeds and worked in the City of London for 10 years for a succession of companies you could only claim for the first 2 years (or when you first knew you would be at a location for more than 2 years).

[BolshieBastard]

Close your current ltd co and create a new one. You can then claim expenses for another 2 years.

[contractor79]

2 year ruls covers all expenses related to a temporary workplace.

that sucks

[blacjac]

2 year ruls covers all expenses related to a temporary workplace.

[contractor79]

Hi
I've been advised that car leasing through company is not worth it due to the extra taxes more then cancelling out what you would save on VAT etc.

Now that I've had to sell my car following a huge MOT failure I'm car-less and am looking to possibly lease, although I could live without a car.

As I've passed the 2 year on-site time limit does this mean I can't claim train fares to site also, or does the 2 year thing relate only to mileage...?

and if any of you guys lease cars any advice on where to lease from, cars, prices would be appreciated