Vehicle lease transfer to director
Vehicle lease transfer to director
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Discussion

MagicalTrevor

Original Poster:

6,481 posts

245 months

Wednesday 2nd November 2022
quotequote all
I have an accountant but I would like to ask you guys for your opinion.

I have a limited company (IT contractor) and I’m thinking of buying a van. I have the funds in the business to buy it outright but I’d prefer to finance it, with a lease perhaps?

Anyway, aside from the the finance options, I’m wary of what happens if I stop contracting and have to close my company down.
Let’s say I pay 12 months but have 24 months remaining, can I hand over 24 months of payments and keep using the van for that period. Even if the business is closed?

Thanks