Lease Transfer - Tax Issues
Discussion
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
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
Gassing Station | Finance | Top of Page | What's New | My Stuff