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I am no expert on tax matters but from what I believe if the van is used 100% for business use then yes all £180 can be put down . Say 50% of the time its for personal use then £90 can be claimed for . What sort of van are you looking at ?
Thanks, movano 21 reg £10k plus vat at a main dealer. I really like my vivaro but sometimes it's just not quite big enough.
Be careful here. The Movano up until 2021 is a Renault Master with Vauxhall engine, Stellantis amalgamated Fiat. Citroen ,Vauxhall amd Peugeot in 2021 and the Fiat Ducato, Vauxhall Movano, Citroen Relay and Peugeot Boxer all started to use the same body shells albeit with different engines. This year all now use the Citroen engine.
We have always bought Ducatos as the engines were acknowledged as the best and most fuel efficient and think we are now on our 12th having managed to buy one of the last new Ducatos with Fiat running gear amd tempting fate have had few issues.
Suspect that you are buying the Renault based Movano judging from the price ? We have just sold as part ex a 21 plate L3 H2 Fiat Ducato 40k miles and got £10,500 plus vat, dealer sold it for £14500 plus vat.
The Vauxhall engined ( Renault Master) does not have a great reputation ! I would try and find a Ducato.
Thanks, I'll check it out. My vauxhall brava pick up was an Isuzu with vauxhall badges on and my vivaro is a renault with vauxhall badges on!
Martin, we have bought many new vans on finance. We usually put the vat down plus part ex value as the deposit. Disregarding the finance for the time being, the total cost of van can be written off either in one lump or spread over a few years, our accountant always advises to write the total cost off in one lump.
Do comsider that assuming your part ex has been written off there will be tax to pay on it"s value you get as a part ex.
Although the new van is on finance and strictly speaking has not been paid for you can write off the cost as mentioned.
As to the finance, only the interest is tax deductible not the capital ! As the capital cost has already been deducted.
Hope that all makes sense any queries come back to me.
We buy new and after paying the deposit with the part ex and the vat have the balance over either 3 or 5 years on HP but only keep the vans for 3 years while they are under warranty. After 3 years there is usually enough value in the part ex to pay the vat and clear most if not all of the finamce this of course depends on how much you have decided as your monthly repayment.
Thanks for that, I tend to keep my vans a long time- I've had two in twenty years, hence the question - I don't buy vans very often!
I think that is true... but Id check with an Accountant or HMRC
After 12 vans definately right. But always wise to use an accountant as everyones circumstances are different