Business Contract Hire is commonly referred to as vehicle lease and allows businesses a fixed payment method for the use of a vehicle for a term of normally between 12-48 months. The payments attract VAT of which for cars 50% and for commercial vehicles 100% of the finance element is reclaimable, 100% of the VAT for any maintenance payment is reclaimable. The rental payments are also classed as a true business expense so can be wholly offset against corporation tax. The benefits are fixed monthly payments with no disposal risk but reasonable care has to be taken of the vehicle and also there is an obligation to remain under the stated mileage at the contract inception or the finance company will levy a charge for loss of value.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 0330 332 6136
Ideal Autolease Limited
Ideal Autolease is a trading style of Ideal Autolease Limited. Ideal Autolease Limited are a credit broker not a lender.
The firm is authorised and regulated by the Financial Conduct Authority, Reference Number 820278.
Ideal Autolease Limited is a limited company Registered in England & Wales; Co. Reg. Number; 4822726, VAT Number; 134 3985 01. ICO Registration ZA468486.
Registered Office; 28 Prescott Street, Halifax, West Yorkshire, HX1 2LG
Copyright © 2019 Ideal Autolease Limited, All rights reserved.