A family member is having difficulty getting credit from the bank and has asked me to help him get a van and some specialist equipment he needs for his business. I was thinking getting a lease agreement set up to set out interest, repayment terms etc.... to keep it official.
What I want to know is can I claim the cost of the van and equipment against the income I'll get? The van will have to be in his name for insurance etc... does this matter?
Thanks,
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