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Personal van lease for limited company

Hi, I have recently set up a limited company (vat registered) and needed to purchase a van. There were no lenders that I could find that would finance the purchase in the limited company name as it was such a new company. I ended up financing (lease purchase) it in my own name as all of the lenders would do it this way and I couldn't run the company at all without a van, so was pretty desperate. The payments for the van are all paid from my limited company account and the van is registered with the DVLA in the company name. Every single mile done in the van is solely for business use, as I have a car for all of my personal journeys. My question is, where do I stand for being able to reclaim VAT on the van payments in the eyes of HMRC? Any help would be greatly apprieciated.

Matt

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07th Nov 2017 22:30

This is a question for your accountant. If your accountant charges you for answering this sort of question, then get another accountant - this sort of query should be part of the service you are paying for.

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