Universal Credit - Self Employed - Allowable Expenses

kingsroad

Hi

I have a few questions regarding being self employed on universal credit.

I need to buy a van but am struggling to find the best way to do it.
Millage/pence per mile does not work for me.

Is contract hire the only way to take the full payment off per month (if 100% for work).

If I use a personal loan or HP all I can deduct is the interest per month? (up to £500 per year)

I need to put everything through for expenses so the millage does not work - but its the buying off the van i am confused about .

1. I can buy a £1500 van but it can only be counted for the first month on UC thereafter all I can charge is the expenses for fuel/tax/repairs on the month they are paid.

2. Buy a more expensive van - How do I fun it to give me monthly payments I can count - eg - If my personal loan is £150 for the van and 20 is interest all i can count is £20 interest?

I am stumped as it seems I only have the option of an old van which is going to need more repairs or a contact hire .

If I am missing something please give me your input.:)

fishybusiness

Run your business as a ltd.

Rules totally change, some will tell you of deprivation of capital, but in the real world a ltd will give you a fighting chance of success.