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Van lease/loan tax

businessdit · 2016-09-26 20:26:33

Hi Folks - My company is hoping to by a van on lease. Can someone advise what the best way to approach this is from a tax write-off point of view so that company can write off the payments and interest from profits? Finding it hard to see difference between HP, loans and lease finance Thanks Alan

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26-09-2016 9:26pm

#1

businessdit

Registered Users Posts: 173 ✭✭

Join Date: April 2010

Posts: 82

Hi Folks -

My company is hoping to by a van on lease.

Can someone advise what the best way to approach this is from a tax write-off point of view so that company can write off the payments and interest from profits?

Finding it hard to see difference between HP, loans and lease finance

Thanks
Alan

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#2 27-09-2016 7:07am
mrawkward

Registered Users Posts: 498 ✭✭

Join Date: July 2016

Posts: 476

A lease is a rental agreement not a purchase, the rentals are tax allowable.
HP and loan are essentially the same thing and you claim interest/changes and depreciation against tax.

Seems like you really need proper advice from your accountant to select the best option for the company.

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#3 27-09-2016 9:05am
mrawkward

Registered Users Posts: 498 ✭✭

Join Date: July 2016

Posts: 476

http://www.boards.ie/vbulletin/showthread.php?p=101166557

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