A Payment A Day Part 5

mooomin

Morning all!

£2.66 PAD from me please!

Must go and forage for coffee...

JAMIEDODGER

£80 for me today!

SueP19

Paulgonnabedebtfree wrote: »

Funnily enough, the 2 and a half grand for kitting out a van would be rather less now. There is a lot more competition in the marketplace for installing window cleaning water systems in vans and I know where I could get it done for a thousand less. It would mean a long drive and overnight stay up north though but it would still represent a decent saving. As for first year depreciation, the taxman makes allowance for this with work vehicles. The capital allowance on a van is now rather higher in year one.

Is it a complete system you have to fit, they are great and you are right alot cheaper now.
Um Capital allowances........................ok so you do get a tax deduction but thats off your profits which makes a 20% saving on tax.

Soz not lecturing but if your van lost say 25% depreciation in first year when you bought it you would save say £2500 on a 10k van. If you bought the van brand new at 10k and if the capital allowances are 50% making a offset of £5000 against profit which would be a tax saving of £1000!!!!

Sorry if you knew this but just wanted to make sure

PS My PAD for today is £3.50

bigbeff

£1.36 not a very big payment for me, but every penny counts Slowly getting there! Have a good monday people. back to school....wooo!

catspaw

Morning all, please can I have a PAD pf £2 ( that's a £1 each to the CC's)

musogirl295

£13.59 again please

Muso x

Paulgonnabedebtfree

SueP19 wrote: »

Is it a complete system you have to fit, they are great and you are right alot cheaper now.
Um Capital allowances........................ok so you do get a tax deduction but thats off your profits which makes a 20% saving on tax.

Soz not lecturing but if your van lost say 25% depreciation in first year when you bought it you would save say £2500 on a 10k van. If you bought the van brand new at 10k and if the capital allowances are 50% making a offset of £5000 against profit which would be a tax saving of £1000!!!!

Sorry if you knew this but just wanted to make sure

PS My PAD for today is £3.50

You sound like you know your stuff Sue.
Kitting out the van is much easier for me these days. When I first had it done, I had no premises for a static unit so needed to do the purifyng in the van. Living in a flat, this was very difficult to arrange and I relied on good will from others - not to mention that the van was tied up in the evenings. Then I got a place to put a static unit so I now purify away from the vehicle and just do a fast transfer when needed. Unfortunately, living in a hard water area means that purifying is more involved. I do have a single DI in the van as well in case I am ever working a long way away and need a bit more water to finish off.
It is easier only needing a tank plus single deonisation vessel but it is very important that the tank is fitted properly and I prefer to pay others to do that. I wouldn't want half a ton of water squashing me against the dash. Also, costs would be reduced by me being able to cannibalise bits from the previous setup so the main charge would be labour.
Buying new or not can be a dilemma. Tax allowances are not the only issue. It also means that I would be a year or so further away from the first MOT or first major service/maintenance bill. Also, there is no way of knowing how the vehicle has been driven by the previous owner even if the mileage is quite low. If someone only intends to keep a van for a year or two, they may well have thrashed it from the day they bought it.
Do you work in accountancy then? Or for the IR? You have some awareness of van systems maybe?

SueP19

Paulgonnabedebtfree wrote: »

You sound like you know your stuff Sue.
Kitting out the van is much easier for me these days. When I first had it done, I had no premises for a static unit so needed to do the purifyng in the van. Living in a flat, this was very difficult to arrange and I relied on good will from others - not to mention that the van was tied up in the evenings. Then I got a place to put a static unit so I now purify away from the vehicle and just do a fast transfer when needed. Unfortunately, living in a hard water area means that purifying is more involved. I do have a single DI in the van as well in case I am ever working a long way away and need a bit more water to finish off.
It is easier only needing a tank plus single deonisation vessel but it is very important that the tank is fitted properly and I prefer to pay others to do that. I wouldn't want half a ton of water squashing me against the dash. Also, costs would be reduced by me being able to cannibalise bits from the previous setup so the main charge would be labour.
Buying new or not can be a dilemma. Tax allowances are not the only issue. It also means that I would be a year or so further away from the first MOT or first major service/maintenance bill. Also, there is no way of knowing how the vehicle has been driven by the previous owner even if the mileage is quite low. If someone only intends to keep a van for a year or two, they may well have thrashed it from the day they bought it.
Do you work in accountancy then? Or for the IR? You have some awareness of van systems maybe?

You are right, vans seem to have a shorter life than cars especially second hand builders vans, i would try to stay away from those, they trash and thrash them

Yes I am in accountancy and find it amazing that most think that "tax" saving is the bee all and end all :rotfl:As you say there is so much more to a decision than just the tax saving, I didn't want to butt in but I am a great believer of knowledge is power and find that most clients don't know the full facts.

I did have a client who made and fitted these systems, so do understand a little, I found them amazing.......................yes not being squished against the dash is a priority :rotfl:

Paulgonnabedebtfree

SueP19 wrote: »

You are right, vans seem to have a shorter life than cars especially second hand builders vans, i would try to stay away from those, they trash and thrash them

Yes I am in accountancy and find it amazing that most think that "tax" saving is the bee all and end all :rotfl:As you say there is so much more to a decision than just the tax saving, I didn't want to butt in but I am a great believer of knowledge is power and find that most clients don't know the full facts.

I did have a client who made and fitted these systems, so do understand a little, I found them amazing.......................yes not being squished against the dash is a priority :rotfl:

I've just noticed that you are from Lincs. Looks like we may be referring to the same supplier

SueP19

Paulgonnabedebtfree wrote: »

I've just noticed that you are from Lincs. Looks like we may be referring to the same supplier

I did wonder.........................Grantham?????