To lease or not to lease.....

S

Savvy

Registered User
Messages
288
Guys,
I am part of a two man limited company. I'm looking at changing my car and I'm considering leasing. Can anyone advise me of the options/pitfalls of doing this?
Cheers
S
 
better to buy the car yourself and charge the company civil service milegae rates, otherwise you will get stung for BIK on a company car
 
contemporary said:
better to buy the car yourself and charge the company civil service milegae rates, otherwise you will get stung for BIK on a company car
Click to expand...

I'd second that advise as you will be charged 30% of the original market value of the car in BIK..each year.

If thats not an option for you and you want to buy then leasing would be the better option as you will write the car off quicker for tax purposes.

So if you took a 36 month lease then you will write the car off over 3 years for tax purposes as opposed to 8 years (i think) if you claim capital allowances on it.
 
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