Business Contract Hire is commonly referred to as vehicle lease and allows businesses a fixed payment method for the use of a vehicle for a term of normally between 12-48 months. The payments attract VAT of which for cars 50% and for commercial vehicles 100% of the finance element is reclaimable, 100% of the VAT for any maintenance payment is reclaimable. The rental payments are also classed as a true business expense so can be wholly offset against corporation tax. The benefits are fixed monthly payments with no disposal risk but reasonable care has to be taken of the vehicle and also there is an obligation to remain under the stated mileage at the contract inception or the finance company will levy a charge for loss of value.
T: 01656 760620
F: 02920 99 0360
Cheaper Van Sales
3B Innovation Centre
Cheaper Van Sales is a trading style of 21st Century Vehicles Limited. Authorised and Regulated by the Financial Conduct Authority, we are a credit broker and not a lender. If you are unhappy with our service we have a complaints procedure, details of which are available on request. You may be able to refer a complaint to the Financial Ombudsman Service (FOS) if you are unhappy with how we deal with your complaint. The FOS website is www.financial-ombudsman.org.uk.
Registered No : 674253| Registered in England & Wales with company number : 07093773 | Data Protection No : Z2207959 | VAT No : 971749968 |
Registered Office : 3B Innovation Centre, Technology Drive, Bridgend, CF31 3NA
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