Leasing a vehicle if not VAT registered

Leasing a vehicle if not VAT registered

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singlecoil

Original Poster:

33,819 posts

247 months

Friday 31st October 2003
quotequote all
My business is starting to make money. Eventually I will have to register for VAT but, as there is a high labour content in what I do, and my customers are all private (not VAT registered), I am reluctant to register before I absolutely have to. On the other hand, I could do with acquiring a new vehicle (probably a van although I would prefer something like a Chrysler Voyager). I've looked into leasing a vehicle but it seems that leasing companies require you to be VAT registered
Any advice?
TIA

singlecoil

Original Poster:

33,819 posts

247 months

Friday 31st October 2003
quotequote all
eric mc said:
In the new year, the adaptation of International Accounting Standards will require all leased assets to be fully capitalised - no more off balance sheet financing.


Would you be kind enough to enlarge on that a bit, please, Eric, or maybe just explain it?
TIA
John