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Conference terri::cars_uk

Title:Cars in the UK
Notice:Please read new conference charter 1.70
Moderator:COMICS::SHELLEYELD
Created:Sun Mar 06 1994
Last Modified:Fri Jun 06 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:2584
Total number of notes:63384

2423.0. "The new tax laws for leasing companies." by WARFUT::PATTERSON () Fri Jun 23 1995 17:20

Hi,

I got a bit of info off a fleet manager at my local dealership.  He told me that
the vat on leased cars can be claimed back by the company.  I have no official
figures but he did say this comes into effect this August.  The company looking
after DEC's fleet are about to save thousands of pounds.

WILL THIS SAVING BE PASSED ON TO THE FRONT END ( US POOR DRIVERS )???????????

Colin.
T.RTitleUserPersonal
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2423.1QUICHE::PITTAlph a ha is better than no VAX!Mon Jun 26 1995 11:416
Ask LeasePlan.  When I was talking to them a couple of weeks ago, they said that
it had not yet been decided what was happening about VAT.  I presume that the
decision that we need has to be taken by LeasePlan, and then by Digital, before
we get a reduction in our leases.

T
2423.2Is this a joke?BRUMMY::BRACEYThere ain't no sanity clauseMon Jun 26 1995 14:387
    Reduction in our leases?
    
    Ha Ha Ha Ha Ha.
    
    Guy    
    
    
2423.3MILE::JENKINSMon Jun 26 1995 15:4415
    
    Lease Plan and Digital may not know what is going on, but the law
    will change on August 1st.
    
    From August 1st leasing companies, like Lease Plan, will be able to
    claim back the VAT on the purchase price when they buy the vehicles
    to lease on to clients.
    
    Also from August 1st, companies who lease cars for their workforce 
    like Digital does AND who make those cars available for private use 
    (like Digital does) will only be able to claim back 50% of the VAT
    charged on the leasing payments.
    
    Richard.
    
2423.4Company savingWELCLU::YOUNGPolicemen aren't nasty peopleTue Jun 27 1995 10:0412
    
    
    What is likely to happen is that Lease Plan will probably have to pass
    on some of the saving to Digital, (they will have to because with extra
    margin available competition in leasing will drive the costs down) then
    digital having made a saving on the lease will also make a saving on
    the Vat on that lease, then they will reduce our allowances by that
    total margin, thus Digital make the saving and not the employees.
    
    One thing is for sure the drivers will be no better off.
    
    Richard(young@wlo) 
2423.51984 syndrome....WOTVAX::HATTONMWaiting for JS to offer me a drive...Tue Apr 30 1996 11:0814
    
    seems like as good a note place as any, 'cause this might be something
    to do with tax ????
    
    Has anybody had a mail lately from LPdirect asking for there "quarterly
    milage" ????  and if so why do they want to know ???
    
    I suspect the obvious of monitoring the cars milage for replacement
    purposes, but surely they get a copy of the cars service record from
    the garage at service time ??? which records the milage ???  Any offers
    ???
    
    - MARK -
    
2423.6WOTVAX::DODDTue May 07 1996 09:576
    I have just received such a mail. Short, and short on explanation.
    
    I might even reply as I have no idea what my quarterly mileage is, nor
    how to keep it.
    
    Andrew
2423.7WOTVAX::16.194.208.3::sharkeyaJames Bond uses LoginnTue May 07 1996 19:264
Don't you keep a copy of your expenses ?

Alan

2423.8WOTVAX::DODDWed May 08 1996 09:0010
    I would assume quarterly mileage to be just that. It has little to do
    with expenses, which are only a fraction of the miles travelled.
    Leaseplan are not interested in expenses.
    
    How many miles did you travel last quarter? When does a quarter start?
    
    I have now received a little booklet telling me how to access LPDirect,
    maybe all is revealed if I log on.
    
    Andrew