Questions for accountant and what to consider yourself

When someone comes to me looking to finance a new vehicle for their business, I always ask if they’ve had a conversation with their accountant about the purchase.

Your accountant will be able to guide you toward the most tax efficient solution for your business in its current financial situation, and for your long-term business plan.

We’re not tax advisors. We are finance brokers. However, the more knowledge about your tax situation you can bring to a meeting with us, the better we can help you.

Here some examples of what to ask in a general:

Discuss with your accountant how much the vehicle will be used for personal or business use

Be honest with your accountant when you talk to them. There are tax implications if you regularly use the vehicle in your personal life. Your accountant will be able to steer you as to how such usage will impact you from a tax perspective.

What does your business need from a tax perspective

Decide with your accountant if your business would benefit from either reducing your Corporation Tax or increasing your monthly overheads. Your accountant will be able to advise you what’s best, and setting this up right will have a big impact on your business health.

What does your business need from a cashflow perspective

If predictable cashflow for the next 12-24 months is what your business needs, then taking on a lease deal might make more sense than a purchase agreement. With leasing: service, maintenance and tyres of the vehicle can be included within the single monthly fee so all you have to worry about is being able to pay that. Your accountant will be able to advise you what your business needs for its current situation.

How will this purchase affect my balance sheet

Leasing a vehicle has always been able to be taken off you balance sheet.. UNTIL NOW. The law changed on 1.1.2026 and these will now be seen as purchases and shown on the balance sheet. This is due to the Right of Use legislation changing and only short term leases can be left off going forward.

Having all this information before going into the dealership allows you to make a better decision on how to purchase your new vehicle.

It means you and the dealer will be on the same page from the moment you enter the building.

And if you bring this information to us before you go to the dealership, we can arm you with a pre-approval before you go in.

Meaning all you have to do is walk into the dealership and say “I want that vehicle on this independently brokered finance agreement.”

Easier. Faster. More effective. And safe in the knowledge it’s set up in the way that best suits your business.

We can tailor the finance agreement to suit the needs of your business, in the short, medium and long-term.

But in order for us to do that, we need to know the full picture.

Your accountant sees the full picture.

Come to us with that and we can do the rest.