Van lease costs vs tax deductions

[105.4]

Hopefully a simple question that will hopefully generate a simple reply.

Sole Trader working as a subby, looking for a new van.

I just wanted to check / confirm that the full monthly lease costs of a van, (let’s say £390 pcm inc VAT), are fully tax deductible?

I’d be looking at a straight lease, (3 yr rental), not a Lease Purchase option.

Thanks in advance.

[springfan62]

Providing the van is used wholly in the course of your trade, if there is partial private use this would need to be apportioned, I am assuming here you are a sole trader, different rules apply if you are incorporated.

[105.4]

springfan62 said:

Providing the van is used wholly in the course of your trade, if there is partial private use this would need to be apportioned, I am assuming here you are a sole trader, different rules apply if you are incorporated.

Thanks Springfan,

Yes, I’m a Sole Trader and not VAT registered.