girishdog
New Member
- Messages
- 1
Hi, I'm not sure this was asked before and couldn't get any posts from the search, I was looking to buy an EV through my own limited company since the BIK will be low enough that is more tax efficient than doing it myself as an employee. I'm not sure how to make up the numbers to know if it's more beneficial to purchase it outright (through PCP / HP) vs leasing.
The car I'm thinking about is 50k, if I buy through PCP / HP means I can claim back capital allowances every year of 3k + the interest on the loan, in 3 years I plan to sell it so assuming a worst case scenario of 40% depreciation I would end up with 30k back and I'm not sure if I can claim the 20k loss?
Now if I lease, I see the same car going for 720 per month for 36 months so around 25k will be paid during the 3 years, I don't need to worry about selling it and I believe I can claim the full 720 per month for capital allowances, is that right?
So what do you guys think?
The car I'm thinking about is 50k, if I buy through PCP / HP means I can claim back capital allowances every year of 3k + the interest on the loan, in 3 years I plan to sell it so assuming a worst case scenario of 40% depreciation I would end up with 30k back and I'm not sure if I can claim the 20k loss?
Now if I lease, I see the same car going for 720 per month for 36 months so around 25k will be paid during the 3 years, I don't need to worry about selling it and I believe I can claim the full 720 per month for capital allowances, is that right?
So what do you guys think?