New van

[Bodd]

Hello all

Thinking of buying a new van this year. Want something like the renault master mid wb high roof. I'm not vat registered.

For claiming tax back would it ibe better to lease or buy, or buy nearly new

Bod

 

[HERTS P&D]

You can claim £3000 per year on your van. So if you spend £9000, you would get back £3000 per year via a reduction on your tax or a refund.

Andy

 

[Bodd]

You can claim £3000 per year on your van. So if you spend £9000, you would get back £3000 per year via a reduction on your tax or a refund.

Andy

Hello andy

I brought brand new a few year back and was told by my accountant that I could only claim the first year, did not earn much that year so could not claim much back.

Bod

 

[minion]

If you buy a vab for business you can claim back the full amount as an anual investement allowance upto £25k.

You can also use it in future years to keep your bill down. Eg you earn 20,000 this year - 7400 personal allowance = 12,600.

If you pay 20k for a van you can claim 12,600 anual investment and pay no tax.

Next year you can earn 7400 plus the remaining balance of the van before you start paying tax.

i find this is far better than a writting down method.

 

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