Please help: Advice on claiming for a van.

ashleighd

Hi

Please help, I have been searching the internet for days and can't come up with a definitive answer.

My husband is a self employed bricklayer and needs a new van, he does nearly 100 miles a day so we thought the best option for him would be leasing a van as anything he buys would depreciate so much in value. Anyway, I was wondering if he was to lease one would he be able to claim back the full amount if the vehicle was solely used for business use as he is a bricklayer and needs a van for work.
Simply if the total of the lease per year was £3,000 would he be able to claim back the full £3,000 just for the lease of the vehicle?

Any help on this would be GREATLY appreciated as he is using my jeep at the moment and it is getting filthy so need to sort something asap!

Thank you in advance.

jimmo

If he is a 20% taxpayer a £3,000 pa lease will, at best, reduce his annual tax bill by 3000 @ 20% = £600.
There will be a similar reduction in his class 4 NIC bill at 9% so another £270.
However, even those potential savings depend on how he claims mileage expenses for his current van. If he currently claims the standard 45p per mile for the first 10,000 miles that will go out of the window and have to be replaced with detailed claims.
Also, its not something I can claim any experience about, but I find it hard to imagine that a brickie could lease a van for say three years and expect to be able to hand it back in a condition acceptable to the lease company.