Firstly, a business lease (business contract hire) is essentially where your company leases a car or van. This may be an ideal option for people who intend to use their vehicle for business and personal use. Below we have outlined just a handful of benefits to leasing a business car. Please read our complete business car leasing guide for more info.
- Tax Benefits - if your company is VAT registered you can claim a portion of the VAT back. Typically, you may be able to claim 50% VAT back on the monthly rental payments and 100% VAT back on the maintenance payment.
- No Expensive Capital Outlay - enabling you to maintain working capital for your business.
- Flexible Repayment - Invoices can also be fixed dependent on your cash flow requirements for quarterly, pause periods and advance rentals.