Lease Transfer - Tax Issues

Lease Transfer - Tax Issues

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golfdsg

Original Poster:

228 posts

127 months

Wednesday 26th August 2015
quotequote all
Been trying all day to come up with a solution to this dilemma with my accountant:

A private individual has leased a VW but due to personal circumstances needs to get rid of the car, I am ready to have the lease transferred over to me however VWFS only transfer leases to Private Limited Companies.

This would trigger a benefit in kind tax, I already lease a Mercedes but through my sole trader business which avoids this kind of tax.

I have spoken to my accountant and he advised to get the car as a sole trader or personal individual to avoid the hassle.

So does anybody have any suggestions, whether or not there is a way around the BIK tax, or should I move on?

Thanks