Operating Lease - Car

JamesB

Hello all,

if a director of a Ltd co hires a car under an operating lease in her name (not the company name) and pays for it personally, can she claim say 50% of the repayments and vat as a business expense as the car will be used 50% for business?

If the answer to the above is yes are there any BIK implications seeing as it is an operating lease, thus not a company car.

Thanks in advance,
J

stevo5678

I think VAT is strictly based on who the invoice is made out to so I would say no (which eliminates theBIK question).

Can't it be changed to the company?

JamesB wrote: »

Hello all,

if a director of a Ltd co hires a car under an operating lease in her name (not the company name) and pays for it personally, can she claim say 50% of the repayments and vat as a business expense as the car will be used 50% for business?

If the answer to the above is yes are there any BIK implications seeing as it is an operating lease, thus not a company car.

Thanks in advance,
J