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If you lease a business vehicle, you may deduct the costs associated with your vehicle, such as your lease, fuel, insurance, and maintenance, based on your business use percentage. You must use your vehicle 50% or more for business purposes. For example, if your monthly vehicle expenses are $1,000, and your vehicle is 80% for business, and 20% personal you will qualify to deduct $800 as a vehicle write-off per month. You must have proper documentation, such as monthly lease statements, fuel rece
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1. VAT CAN be reclaimed ✅ If the pickup qualifies as a commercial vehicle (a “van” for tax purposes) and your business is VAT-registered, you can reclaim the VAT on the purchase price. (Passenger vehicles normally don’t allow VAT reclaim) 2. 100% tax allowable in the first 12 months ✅ Commercial vehicles often qualify for full capital allowances, businesses can claim 100% of the cost against taxable profits in the first year (via the Annual Investment Allowance). This reduces the company’s corpo
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