Car lease nominal code?

[goldenquest]

Can anyone let me know which Sage nominal code should be used for company car lease payments?

Many thanks

 

[Robert Pearce]

As ever with these things, there is no correct answer. Assuming that it's an operating lease and the payments should go through the profit and loss account, you could just set up a new nominal code in the 73xx range.

Sage also has leasing costs (7703) and car hire (7401) nominal codes, which you could use if they've not already being used.

 

[goldenquest]

Perfect. I've set up a 7305 code specifically for these payments.

Many thanks.

 

[David Griffiths]

Are you aware that if the car is available for private use by anybody then you can only claim half the VAT?

Available is drawn very widely as far as the VAT office is concerned.

 

[goldenquest]

Are you aware that if the car is available for private use by anybody then you can only claim half the VAT?

Available is drawn very widely as far as the VAT office is concerned.

Yes, fully aware of this. Many thanks.