Car leasing - could someone glance over this for me please
Sarah-Lou
Registered Posts: 141 Dedicated contributor 🦉
Client thinking of leasing a car - she doesn't know whether she has an option to buy it at the end or whether it gets returned with no option.
Am I right in thinking that as it is leasing she can claim all the costs as expense? I think it needs to be shown in the balance sheet now too?
It isn't all going to be business use so appreciate that it can't all be put through on this basis but technically if it was all business she could do or is it just the interest on payments and not the payments themselves that can be put through?
Thank you
Sarah-Lou
Am I right in thinking that as it is leasing she can claim all the costs as expense? I think it needs to be shown in the balance sheet now too?
It isn't all going to be business use so appreciate that it can't all be put through on this basis but technically if it was all business she could do or is it just the interest on payments and not the payments themselves that can be put through?
Thank you
Sarah-Lou
0
Comments
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Client thinking of leasing a car - she doesn't know whether she has an option to buy it at the end or whether it gets returned with no option. Am I right in thinking that as it is leasing she can claim all the costs as expense? I think it needs to be shown in the balance sheet now too? It isn't all going to be business use so appreciate that it can't all be put through on this basis but technically if it was all business she could do or is it just the interest on payments and not the payments themselves that can be put through? Thank you Sarah-Lou0
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