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Van purchase finance
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baker6743
Posts: 39 Forumite

Hi
I'm looking to buy a van for my limited company but as we are a new business so won't credit, I could get it in my name but is there away to claim the vat?
I'm looking to buy a van for my limited company but as we are a new business so won't credit, I could get it in my name but is there away to claim the vat?
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Comments
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gavin7 said:Hi
I'm looking to buy a van for my limited company but as we are a new business so won't credit, I could get it in my name but is there away to claim the vat?0 -
A limited company, even if registered for VAT, cannot normally recover input tax on invoices addressed to someone else. There are exceptions, like employees incurring travel expenses, or where there is clear evidence that the purchase was on behalf of the company, but this is not an argument likely to succeed where the asset would not have been sold to the company by the vendor, and the finance to buy the asset, as well as the invoice for the asset, is in the name of an individual.0
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gavin7 said:Hi
I'm looking to buy a van for my limited company but as we are a new business so won't credit, I could get it in my name but is there away to claim the vat?
With regards getting credit for the business could you buy it as the business with you personally guaranteeing the finance?0 -
Have you asked your accountant for advice on best way to do this?Signature removed for peace of mind0
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Just another thing to think about (as I’ve been looking to buy a van), a lot of ‘personal car finance’ such as those offered through the likes of ClearScore won’t allow you to use car finance on a ‘commercial vehicle’. I got offered finance at 8.8% and was gutted to see I couldn’t use it on a van.0
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