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Advice on vehicle for new business as sole trader
Pkmcm
Posts: 1 Newbie
Good morning!
I was hoping for some help and advice on the best and most tax efficient car to lease for my new venture as a sole trader. There are numerous options in terms of fuel type etc and the various levels of efficiencies they offer…and I am a bit bamboozled to be honest. The business will demand a reasonable size car (estate/crossover type) and will be doing around 20000 miles per annum, of which around 80% will be business related.
I will be operating as a sole trader with a turnover of less than 80k pa.
I plan to lease a car rather than buy so there is no major capital outlay.
If anyone can offer any advice on the best avenue to go down I would really appreciate it. Is hybrid the way forward?
I was hoping for some help and advice on the best and most tax efficient car to lease for my new venture as a sole trader. There are numerous options in terms of fuel type etc and the various levels of efficiencies they offer…and I am a bit bamboozled to be honest. The business will demand a reasonable size car (estate/crossover type) and will be doing around 20000 miles per annum, of which around 80% will be business related.
I will be operating as a sole trader with a turnover of less than 80k pa.
I plan to lease a car rather than buy so there is no major capital outlay.
If anyone can offer any advice on the best avenue to go down I would really appreciate it. Is hybrid the way forward?
Many thanks
0
Comments
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There is no BIK for a sole trader and so the fuel type doesnt make a difference1
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