Vans

[e-spark]

Hi been trading as Ltd company for 13 months, decent turn over, decent client base and money in the bank.

I am after a new or nearly new van (3 yrs max); looked at start up loan as under 24 months old they offer a personal loan against your property! went and looked at lease options, new business so the deposit was £2k extra and over 3 years reduces the monthly payment by £16 per month so as new business they are penalising me £500+ per year for a van! Now vans are expensive right now but that's robbery

Any advice on van sales and or leasing, business loans appreciated.

 

[telectrix]

consider an EV van. might be some gov. backed deals.

 

[Gavin John Hyde]

Van leases etc have gone up recently as there is a shortage of new vans available. Same as a cars.
You may get a grant if you went electric. Personally speak to an accountant as there are various legit tricks they can do to save money and claim it against profits etc..
Also bear in mind if you make a loss as a company you can use it to wrote off profits in future years so saving tax.
I lease my vivaro for £170 PM plus Vat which i reclaim. The depreciation is such that it made sense to lease rather than buy.
There is a thing at moment called super deduction from hmrc you can claim 130% of the cost against your profits.. there are several ways it works but need an accountant to make sense of it. Vans are included! Think you do have to buy it outright though.

 

[123]

Van leases etc have gone up recently as there is a shortage of new vans available. Same as a cars.
You may get a grant if you went electric. Personally speak to an accountant as there are various legit tricks they can do to save money and claim it against profits etc..
Also bear in mind if you make a loss as a company you can use it to wrote off profits in future years so saving tax.
I lease my vivaro for £170 PM plus Vat which i reclaim. The depreciation is such that it made sense to lease rather than buy.
There is a thing at moment called super deduction from hmrc you can claim 130% of the cost against your profits.. there are several ways it works but need an accountant to make sense of it. Vans are included! Think you do have to buy it outright though.

Just to add to this - it covers Ltd companies but not sole traders / partnerships etc, and is from April 2021 to April 2023.