Hi. I'm self employed but not VAT registered. Which would be the best way to acquire a vehicle so that it's cost is a fully allowable tax expense. And also because I'm not vat registered does it matter whether I take out a business or a personal lease? Thank you.
Our expert Mike answered...
Hi Ann, thank you for getting in touch. There a three main types of leasing options available and will all have various options and the end of contract. With the options that are available not being VAT registered is not a problem and out of the three options available two of these will be fully tax efficient for you. If you would like to discuss this in further detail, please feel free to contact one of our specialist direct on 01442 838193. Kind regards, Mike Dlay.