Hi, because my personal van has done a huge amount of miles now I am considering how to buy van for company in a tax efficient way.
I will buy something in a price range of £10,000+VAT. Van will be used only for business. Business is VAT registered. I could buy it straight away from company’s cash but I prefer to buy it with loan and pay it off within 5 years. (Only if interest rate is reasonable low)
Lease is not an option because I am tradesmen and I make alterations to van to suit my needs. Such as custom internal racking, additional locks for security etc,
What finance options is available for new limited company? Incorporated July 2023.
I have seen start up loans backed by government at fixed 6% interest rate. Is it suitable for this case?
Thank you in advance for those who will give me some ideas how to get it sorted.
