Tax query...

[ZBusiness]

Hello, hopefully someone can help or maybe point me in the right direction please.

If a company buys cars to lease to other companies, ie: as a car hire/lease company, what are the tax rules on the purchase and what they can claim.

Are they the standard rules, so the same as if they bought the car to use or for an employee to use (so 6-100% claimable in first year depending whether electric, Co2 etc) or are they treated like a product or asset, like if a marquee hire company bought a marquee and then leased it out then they can claim the full cost of the marquee in their expenditure.

Thanks

 

[Frank the Insurance guy]

Are they the standard rules, so the same as if they bought the car to use or for an employee to use

I'm pretty sure thats not the case and their are special rules that apply to "lease/Hire companies" - you really need specialist advice (ie. paid for), as to get this wrong could be very costly!

 

[UK Contractor Accountant]

BIM33040​

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