Mobile hairdressers - lease or buy a car?

[robynbird]

Hi
I am a mobile hairdresser and have quite an old car and am worried about the mileage I'm clocking up on it.
I'm thinking about leasing a car but its a mine field! I was wondering what others do and how it affects tax?
Do you pay extra tax if you lease a car against the business but also use it for personal use? How much do people pay and what deposit?
Or would it to be better to buy a car and just use it for the business?
Thanks

 

[Trinity]

You'd be better off discussing this with an accountant, there are tax benefits and taxes to be paid, each person would be affected in different ways depending on a whole host of other things such as turn-over, benefits, etc.

You could also contact HMRC who will be able to give you general advice but an accountant would be a better option as they can be specific to your actual situation and they work for you not the government.

 

[Grace_Hair]

I wouldn't personally be keen on leasing. As as far as I'm aware. Miss one payment and your car could be gone...

That wouldn't be particularly helpful if you had a full day. X