End of lease. Balance payment.

andersbrand1

They are on the business.

Business PCP.
So we do get VAT return. If you do believe me then this can
be noted in my original post!!


Thanks again for your valued input.

andersbrand1

Apologies if you are referring to the next cars March.
I read your post incorrectly.

Yes they are personal. Due to the fall in Director dividends allowed per annum
it is now more beneficial to take out personal lease.

jonesMUFCforever

What has dividends got to do with VAT?

andersbrand1

Never said dividends have anything to do with VAT.

But as this is where this conversation has now gone then...

Cars taken out 2015. The higher rate threshold was ...........£42,285
Allowance for directors now destroyed.

Hence cars personal.

anniecave

So are the remaining balloon payment(s) and admin fee(s) due anyway (even if you've handed the cars back?)

Or is it a only essentially a timing issue - the balance is due as the vehicle returns aren't yet processed, but once they are processed there will then not be a balance due, or only admin fees?

Also what is the company legal status, are you limited company, sole trader (with employees), or partnership ?