Quote:
Originally Posted by JustChris
What do we think about this part?
‘The vehicle had to be for primarily personal not business use. Commuting comes within personal use, but using it more than occasionally for business or paying on your business will likely mean it won't count.’
‘It DOES include Personal Contract Purchases (PCP). Personal Contract Purchase are where you make loan-like repayments with the option to pay a larger 'balloon' payment at the end if you want to own the car. ‘
So would my PCPs with the car used for work and personal allowed to be included?
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Yeah I'd say so, businesses contracted out the debt/liability that should have sat on their balance sheet to the employees, hence we all had to PCP a new car. (that has to be the biggest debt/liability move from business to UK households ever)
I think they are excluding lease purchase agreements run through a business, where the owner of Cleckheaton valves treats himself to a new Jag every 3 years.