Its VIP coach time again

[DSLiverpool]

Last year a very good mate of mine (who has a small ultra high end coach business) had several lucrative contracts over the summer that required a 16 seat coach with tables, loo, kitchen etc - we worked out that the contracts would pay for most of a decent 08 / 09 coach so I leant him the cash from personal funds which was repaid within 9 months.

Today we are in the same position as another (mainly golf tour) agent has asked to use him for the summer but with more work and a slightly different coach at higher spec.

This is too much to lend from my personal pot (he cannot get credit but thats not because he is irresponsible its past circumstance) but I can buy it via my personal semi dormant LTD company on 3% finance over 3 years and I would make the payments lending the coach to my mate.

BUT I cannot work the structure to do it in my head is credit license, depreciating asset, tax liability - he can pay it in 12 / 18 months as cash to my LTD company and I can pay it off early but how do I gift him the coach after its paid for ?

My accountant has been thinking about it since tuesday am ............

[TwistingMyMelon]

Do you want to make any money from this?

Would it not be worth becoming a partner of his business and getting credit that way? Can you buy a share of the company ?

[DSLiverpool]

Dont want to be involved in his business, mates dont make good partners in my experience.

[johnwilliams77]

Make up some excuse. Otherwise you could risk the friendship if it goes wrong

[Stuart70]

As long as you are not hitting VAT thresholds for the ltd co, just a back to back mirroring of your finance deal.

Might need to give you an arrangement fee to keep it at arms length....

Or am I oversimplifying?

[DSLiverpool]

Stuart70 said:

As long as you are not hitting VAT thresholds for the ltd co, just a back to back mirroring of your finance deal.

Might need to give you an arrangement fee to keep it at arms length....

Or am I oversimplifying?

Just checking if I finance it I can then hire it out - waiting on an answer.

I want to do this because my mate is working really hard on this and getting some solid gold contracts but past crap means he needs a hand.

[DSLiverpool]

If anyones interested what we have done is via a business peer to peer service and with a 25% deposit he has credit (at reasonable rate) and this will help repair the rating, win win.

[chilistrucker]

Nice one, top marks for helping your mate out as it sounds like he is onto a winner.

[anonymous-user]

Which platform did you go through?

I find it quite interesting to see the discussions of the various loans on offer on the various platforms on http://p2pindependentforum.com/

[DSLiverpool]

JPJPJP said:

Which platform did you go through?

I find it quite interesting to see the discussions of the various loans on offer on the various platforms on http://p2pindependentforum.com/

I`ll check when in the office I cant recall the platform just the name of the guy setting it up

[Thurbs]

Cant help sorry, however...

[DSLiverpool]

This is the new small one, the one last year had a loo and kitchen - its fully booked for the entire summer and that will pay off 50% of it. The bigger one now has another driver and is available, he gets lots of football work from players families to club owners (airport pick up to away ground) and lots of posh fans on away days.

Edited by DSLiverpool on Monday 8th May 08:36

Edited by DSLiverpool on Monday 8th May 08:42

[johnwilliams77]

Quite good - a better class of pisshead!

[Thurbs]

Looks great. I always thought there was a need for this kind of service...

[DSLiverpool]

Thurbs said:

Looks great. I always thought there was a need for this kind of service...

His SEO is very good lol, he gets LOTS of inquiries and puts out as much as he takes on.

[DSLiverpool]

JPJPJP said:

Which platform did you go through?

I find it quite interesting to see the discussions of the various loans on offer on the various platforms on http://p2pindependentforum.com/

Victor Finance Shorpe, he was talking about returns up to 6% for investment but I didnt get details on risk etc.

[chilistrucker]

DSLiverpool said:

Thurbs said:

Looks great. I always thought there was a need for this kind of service...

His SEO is very good lol, he gets LOTS of inquiries and puts out as much as he takes on.

They really look the part. I've always thought that if you have the right tackle and provide that 1st class service you should be able to attract the better niche work.

I see the Ellisons coaches a lot on my travels and see why they have the contracts they do.

[VEX]

DSLiverpool said:

This is the new small one, the one last year had a loo and kitchen - its fully booked for the entire summer and that will pay off 50% of it. The bigger one now has another driver and is available, he gets lots of football work from players families to club owners (airport pick up to away ground) and lots of posh fans on away days.

A couple that looked that sort of spec appeared on one of the commecial onine auction houses I follow, happy to pm a link if there is an interest DSL.

[DSLiverpool]

Yes please !