Car leasing

[contractor79]

Hi
I've been advised that car leasing through company is not worth it due to the extra taxes more then cancelling out what you would save on VAT etc.

Now that I've had to sell my car following a huge MOT failure I'm car-less and am looking to possibly lease, although I could live without a car.

As I've passed the 2 year on-site time limit does this mean I can't claim train fares to site also, or does the 2 year thing relate only to mileage...?

and if any of you guys lease cars any advice on where to lease from, cars, prices would be appreciated

[blacjac]

2 year ruls covers all expenses related to a temporary workplace.

[contractor79]

2 year ruls covers all expenses related to a temporary workplace.

that sucks

[BolshieBastard]

Close your current ltd co and create a new one. You can then claim expenses for another 2 years.

[Archangel]

Close your current ltd co and create a new one. You can then claim expenses for another 2 years.

That is not the case. The 2 year rule is a personal/geographical thing. If you lived in say Leeds and worked in the City of London for 10 years for a succession of companies you could only claim for the first 2 years (or when you first knew you would be at a location for more than 2 years).

[BolshieBastard]

That is not the case. The 2 year rule is a personal/geographical thing. If you lived in say Leeds and worked in the City of London for 10 years for a succession of companies you could only claim for the first 2 years (or when you first knew you would be at a location for more than 2 years).

My chartered accountants have advised this course of action to me as I've been snared by the 2 year rule. And they're no arsewipe company either.

Of course they may be going with the hope that HMRC dont look too closely at the certified accounts.

Its a ballache closing one company, starting another, closing one bank account and opening another etc but if you want the dosh, gotta have a little pain.

So there!

[BolshieBastard]

Oh and you can continue to claim the VAT element on your fuel even if caught by the 2 year rule providing you pay VAT. But then again, who doesnt?

[chris79]

Hmm I'd be careful of that, isn't that similar to the old "If I change umbrella company will the 2 year rule reset?"...

[contractor79]

Oh and you can continue to claim the VAT element on your fuel even if caught by the 2 year rule providing you pay VAT. But then again, who doesnt?

that's not what I was advised

[blacjac]

My chartered accountants have advised this course of action to me as I've been snared by the 2 year rule. And they're no arsewipe company either.

Of course they may be going with the hope that HMRC dont look too closely at the certified accounts.

Its a ballache closing one company, starting another, closing one bank account and opening another etc but if you want the dosh, gotta have a little pain.

So there!

Your chartered accountants that are no arsewipe company are wrong.

So there!