How to reclaim your VAT and tax on leasing vans
If you need a van for your business van leasing is the best option for you
. However you could also lease a van for personal use. Both ways it is way cheaper for you, than to buy a van. Van leasing is almost the same as van renting, with the difference that the leasing period is a year or more, while in renting you do it for a few days or few weeks.
When you choose to lease a van, there are many offers both on vans and companies that lease it, so you must find the best offer for you and the best contract, because with every company you get different obligations and fees according to the damage done and the leasing period.
But after all the best reason to get a van, especially in the UK, is to avoid paying tax and VET. That's why the choosing of the company is so important, because not every company is against the taxes and VETs and not every company pays a percentage of it, or quarters it down for you.
The details around reclaiming the VAT and the taxes are very important and you should be very careful when choosing the van itself, also. For example if the payload of the van is not more than 1000 kilos, you won't be able to reclaim the VAT, that's why vans that can seat more than three people are a bit more complicated.
Other thing you need to look out for is the number and the location of the glass panels. For example in some regions in the UK the van technically should not have any glass panels in the back side of the vehicle. If this is not case you would not be able to reclaim the taxes.
It would be best for you if the van is not for personal, but for company use, because that way the taxes will be more evenly separated through the year and the charge by the revenue for using the van will also not be a big problem for you.
Also some leasing companies offer you a deal for an operational lease, where you are guaranteed that you will get money after the van usage period is over, and you are also guaranteed the right amount you are going to get. However by going with an operational lease, often you turn out to get far less money, than what you would have gotten if you have gone with a normal lease. There it is a choice between security and eventually getting more money.
It all may seem too tough to handle and the options and opportunities you are offered may seem too much, but you should be very thorough and research each one of the suggested deals and contracts both by the dealers and the companies. That way you will definitely find the most suitable offer for your business or personal need.
How to reclaim your VAT and tax on leasing vans
By: Albert Wessel
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