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Van Lease Regulations

Van leasing is usually done by businesses who want to have the chance to save on cash as much as possible, especially in this very difficult economic downturn at the moment.  It is very important that businesses comply with van lease regulations in order to maximize the penny pinching power of van leasing. There are some van lease regulations for businesses that they need to take note of.

Business Use Only

When a business gets a van for lease, it is very important that the management is strict about using the van only for business purposes, most especially for daily operations.  There should not be any time that the van leased will be used for personal purposes.  There is a very big difference with the VAT that applies to business use only vans to personal use only vans.  The vans leased for business purposes can have as much as 100% reclaimable tax while the vans leased for personal use will only be provided with 50% tax claims.  It is very important for the management to enforce a business use only for the vans that they lease and comply with this van lease regulation in order to get the proper tax back.  If the business only van that was leased is used for personal purposes, there will be a £500 cap per annum.

Other Van Lease Regulations

There are also some minor van lease regulations that one has to know because there is a great need to comply with them in the UK.  For example, the company that is leasing the van will not incur any risk on the lowering of value of the van.  There will also be no change on the monthly payments that need to be paid because they are made to be on fixed rates as much as possible.  The only time that the monthly payments will be subject to change is when the VAT rate changes.  The business owner who intends to lease a van must be aware that the monthly payments will not change and will remain at the exact same value for the whole duration of the leasing period.  Another van lease regulation that business owners must comply to is the payload or the capacity of the van that was being leased.  It is important that the business owner makes sure that there is no instance that the van is overloaded at any point.  In order to avoid any overloading incident, it would be helpful to assess the volume that the van will carry on a daily basis so that the leasing company may advise the business owner with the right van for the job.

It is important to be familiar with the van lease regulations that run on various van lease agreements in order to avoid any penalties or any extra charges that will be incurred within the leasing period.  Some of these regulations ensure safety and security of the van and its passengers and other van lease regulations maximize the savings power of the van lease option.

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Van Lease Regulations

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