Leasing a car through an LLP
Author
Discussion

peter777s

Original Poster:

110 posts

167 months

Wednesday 11th December 2013
quotequote all
Hi

I'm thinking of leasing a car through an LLP.

My questions are:

1. Am I correct in thinking that there is no company car tax like there would be through a limited company?

2. Can I reclaim 50% of the VAT on the lease rental (there will be 25% business use)

3. Can I reclaim 100% of the VAT on the servicing/maintenance costs

4. Will my profit be reduced by the business use element ie. 25% of the lease cost (inc 50% of VAT which cannot be claimed) and 25% of the servicing costs etc

The LLP is bona fide with partner income linked to profit. No tax avoidance for BIK in any way.

Thanks
Pete