Van : offsetting cost against capital expenditure

[Steve the DJ]

A Finance Director friend of mine gave me a document telling accountant types how the HMRC has some stupid rule that essentially lets you buy a van and get 100% of the money back.

Interested aren't you?

Best I go and find the document because I assure you this isn't an April Fools!

Edited To Add:

I can't find it so I have emailed him asking for a link to a website. Of course everyone knows you can claim 100% of the purchase price back in the first year but this was a different loophole as I remember.

[Grahame Case]

Is a £14,000 Van a necessary purchase?

yes, I need it for transport, and also to comply with some of my equipment insurance policy clauses. Plus, the method i use to transport my equipment at present is definitely not safe and most likely not legal, i have no bulkhead in the Kangoo people carrier i borrow, and the equipment just about fits in all piled up, although i have to be selective about what equipment i take.

Surely, a method of safe and secure transport for equipment is one of the most important things for a mobile disco.

the only way i feel comfortable doing that is buying new.

[Mark Wild]

yes, I need it for transport, and also to comply with some of my equipment insurance policy clauses. Plus, the method i use to transport my equipment at present is definitely not safe and most likely not legal, i have no bulkhead in the Kangoo people carrier i borrow, and the equipment just about fits in all piled up, although i have to be selective about what equipment i take.

Surely, a method of safe and secure transport for equipment is one of the most important things for a mobile disco.

the only way i feel comfortable doing that is buying new.

I'm sorry but you don't half talk a load of waffle sometimes.

I need it for transport, and also to comply with some of my equipment insurance policy clauses.

What clauses would they be? Alarms & Immobilisers are fitted or can be fitted on used vehicles too.

Surely, a method of safe and secure transport for equipment is one of the most important things for a mobile disco

Indeed, but why £14,000 worth? I'm sure half (if that) the expenditure would suffice for safety and security.

the only way i feel comfortable doing that is buying new

Well good luck with that, this is just my opinion so don't be offended. I just hope all that finance doesn't come back to bite you in the rear mate.

[Grahame Case]

I just hope all that finance doesn't come back to bite you in the rear mate.

you and me both :-) as i've said i'm still in the exploratory stages of this, and my mind may not be made up as to the direction I'm going.

The reason i'm considering buying new is i can customise the van to my needs. and i know it's service history. Which i would not necessarily have bought elsewhere.

I've bought at auction and second hand before for other vehicles but don't consider that as a viable option this time, i want to know exactly where my van has been and what it has done.

I'm on a pretty sound financial footing, and in regular employment, so I think I would be alright as far as finance goes.

it's nice to know i have people looking out for me though, i appreciate that Mark

[Solitaire Events Ltd]

The reason i'm considering buying new is i can customise the van to my needs. and i know it's service history. Which i would not necessarily have bought elsewhere.

But things go wrong with brand new vans too don't forget!

Generally though, vans are more reliable than before and last a lot longer too.

I can't really see that buying a brand new van is viable either, but it's your choice.

[rob1963]

But things go wrong with brand new vans too don't forget!

I can't really see that buying a brand new van is viable either, but it's your choice.

Agreed.

In my opinion, anyone who buys a brand new van which loses over £1,000 of its value on the way home from the garage must have more money than sense.

[Grahame Case]

Agreed.

In my opinion, anyone who buys a brand new van which loses over £1,000 of its value on the way home from the garage must have more money than sense.

or neither money or sense.

[wensleydale]

Agreed.

In my opinion, anyone who buys a brand new van which loses over £1,000 of its value on the way home from the garage must have more money than sense.

it depends on the deal you get.
whilst finance is cheap at the moment you may get a long term finance deal that you couldnt get elsewhere.

theres also times of the month where dealers need to flog vans (now more than ever) or particular makes that are struggling (ldv).

given that dealerships are desperate at the moment their margins will be cut to the bone and I dont think the difference between new and 2nd hand will always be as much as in the past.

in the big scheme of things £1000 is not a big amount for piece of mind and the knowledge that no-one has driven your van at 50mph in 1st gear.

[Solitaire Events Ltd]

i

in the big scheme of things £1000 is not a big amount for piece of mind and the knowledge that no-one has driven your van at 50mph in 1st gear.

And in the even bigger scheme of things in running a business, £14K for a sole trader is a lot of money to spend on a vehicle.

[rob1963]

in the big scheme of things £1000 is not a big amount for piece of mind and the knowledge that no-one has driven your van at 50mph in 1st gear.

I disagree.

I'd rather spend much less than that on an HPI check & a full inspection by the AA or RAC.

That policy has worked perfectly well for me for many years.