contracting tips Articles

Tips for contractors choosing lease vehicles

Rail passenger satisfaction recently rose overall for the first time in three years, but with less than half of the 28,000 train travellers surveyed saying they feel ticket prices represent value for money and with delays still regularly experienced especially in London and Manchester where major upgrades are still in progress, the car certainly remains the most convenient transportation method for contractors.

Each contractor’s business is different so when weighing up the financial pros and cons of leasing a brand new vehicle on business contract hire, purchasing it outright or obtaining a business loan to finance it, Umbrella’s accountants are here to provide BIK (Benefit in Kind), P11D, CO2 and other advice based on a contractor or company’s actual figures.