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  • I'm a builder and not VAT registered. What do you think would be the best deal for me? Was looking at the personal contract hire over 2 years, but I'm open to suggestions.

    Richard Wells

    Our expert Richard answered...

    Hi Martyn, thank you for leaving your question on the site. We can definitely offer a personal contract hire, however it may be a better idea to lease it through yourself as a sole trader. Even though you are not VAT registered, you will still be able to offset the payments against your taxable profits, which you will be unable to do on a personal agreement. Please double check with your accountant that this is something you can do, but I believe this will be a better option than a personal lease.  It will also mean that if for whatever reason you do turn VAT registered, you will be able to claim up to 100% of the VAT back, where as if it is in a personal lease you will not be able to claim the VAT back. If you would like to discuss these options in further detail, please let us know what the best contact number is for you and also when would be a convenient time for one of our specialists to contact you. Thank you. Kind regards, Richard Wells.

    Question asked 26/02/2015
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