[cleaniac]

Hiya fellas..

Well its only 4 days left until I stop work for holidays and have been thinking what and how i will expand in 2019. Over the last quarter, around March i will be looking for a new van and wfp system to expand the business and pop an employee in.

I'm forcast a profit at the end of the year after wages etc of around £10k more than expected, which is nice but of course im going to loose an extra 2k to the governments coffers for the 2018-19 year in corp tax.if i don't find a way to spend the cash 🙄

Problem is, its not quite enough for a brand new system and van on hp, has anyone been able to finance a 2 or 3 year old van with a full wfp system fitted for under 12 grand?

Cheers

[P @ F]

Have a look at Varitech Systems , they seem to hold a bit of stock in this area , im sure they could source what you are after and offer it on some kind of repayment scheme .
Give them a call too as not all is on the website .

[Anthony Jardine]

No I generally purchase outright

But when I was looking into vans grippa had good access to vans through a  seperate company some new some nearly new if I remember and fairly sharp prices

You could always buy van and use interest free the system and next year pay it off as things seem to be going good direction currently for you option I sometimes do

I guess also it depends on what size water tank you wish to carry as that will dictate what vans you look at I guess

I tend to stick with transit connect ltd as they have spec I want take a 47 pole in a tube holder and I can fit a ladder inside up at roof line which gets me onto most flat roofs  and they easily cope with 650 tanks although many will have there own viewpoints on this

Although the new Berlingo for singular operators has a massive payload 1000kg and Citroen offer good 0 % options and is very tempting for another van and I’ll look at those next year

[P @ F]

Just had a look at Varitech , cheapest they have that i could see was a 17 plate vivaro for 18k !
Might be worth a call as they do hold the smaller vans too .

[KS Cleaning]

Hiya fellas..

Well its only 4 days left until I stop work for holidays and have been thinking what and how i will expand in 2019. Over the last quarter, around March i will be looking for a new van and wfp system to expand the business and pop an employee in.

I'm forcast a profit at the end of the year after wages etc of around £10k more than expected, which is nice but of course im going to loose an extra 2k to the governments coffers for the 2018-19 year in corp tax.if i don't find a way to spend the cash 🙄

Problem is, its not quite enough for a brand new system and van on hp, has anyone been able to finance a 2 or 3 year old van with a full wfp system fitted for under 12 grand?

Cheers

Why would you want to pay interest on a hire purchase agreement when you have the money sitting there?

[P @ F]

I didnt know he had the money sitting there, so why cant you buy it all outright , 12k should easy get you a doblo  or partner and have a grippa fitted in it ! 

[PHILIP HARDY]

I didnt know he had the money sitting there, so why cant you buy it all outright , 12k should easy get you a doblo  or partner and have a grippa fitted in it ! 

Got to agree, Borrow £12K pay £14k back with the interest,if you can afford the money its always the most efficiant to pay with money already earned,

[nathankaye]

Ive not been following this story (sorry) but are you currently employing n training now, ready to stick someone in a van to work by themselves. Or is that still to take shape?
I only ask as many find this can be different in reality to theory and you may end up with a van n equipment on finance and not in use?
I know its wise to make plans now and enquire ready for that time, so im not being disrespectful. Ive just not followed the story (basically i cant recall whats been said in past).

[dazmond]

I didnt know he had the money sitting there, so why cant you buy it all outright , 12k should easy get you a doblo  or partner and have a grippa fitted in it ! 

Got to agree, Borrow £12K pay £14k back with the interest,if you can afford the money its always the most efficiant to pay with money already earned,

he probably wants to keep hold of the £12k and have it in the bank as an emergency fund/other things rather than blow it all on a van and system all in one go......

£200-£300 a month is a lot easier to swallow than parting with £12k all at once (even if you do pay a few grand extra in interest over the course of 5 years)

[Plankton]

Another thing is it spreads the expenditure over a period of time with tax returns in mind.

[P @ F]

I bet I could take 6k of that 12k and still get a doblo and system fitted .

[John Mart]

If the £12k is profit, he may well have already taken it as dividends. I doubt it’s sitting there.

[NWH]

I wouldn’t spend your own money I would use the banks.

[cleaniac]

Daz has hit the nail on the head.  He is sharper than many on here..

Correct...... 1. I want to buy the van & equipment within the 2018-19 tax year so i can start the full liability and write down almost all of my profit for on the 1st year of purchase.

2. If i use all bank monies, i wont have any working capital for the expansion i need in 2019 as all hands will be to the deck, so there is no benefit to me emptying the account if i can finance over 2 or 3 years and add it to my liability account balances.

3. Correct, there wont be 12k in the account, more like 7.5-8k by the time last years liabilities are fully paid up i had quite a large bill for tax advice & accounacy fee's last year that i am still paying back, and of course there will be the accountancy fees to pay for this end of year so i'm more likely to end up with 5 or 6k of actual cash left over in the bank.

4. I havent taken any dividends this year. Only my wages, and the wifes, plus whats owed to me on the DL account.

[P @ F]

But it does not matter how its paid for , you can claim a large percentage of outlay as soon as you purchase now , its not like the old days with depreciation and offset !

[deeege]

Daz has hit the nail on the head.  He is sharper than many on here..

Correct...... 1. I want to buy the van & equipment within the 2018-19 tax year so i can start the full liability and write down almost all of my profit for on the 1st year of purchase.

2. If i use all bank monies, i wont have any working capital for the expansion i need in 2019 as all hands will be to the deck, so there is no benefit to me emptying the account if i can finance over 2 or 3 years and add it to my liability account balances.

3. Correct, there wont be 12k in the account, more like 7.5-8k by the time last years liabilities are fully paid up i had quite a large bill for tax advice & accounacy fee's last year that i am still paying back, and of course there will be the accountancy fees to pay for this end of year so i'm more likely to end up with 5 or 6k of actual cash left over in the bank.

4. I havent taken any dividends this year. Only my wages, and the wifes, plus whats owed to me on the DL account.

Don’t forget step 5

5. I really just wanted to let Clean It Up know how incredibly wealthy I think I am.

[Stoots]

I think you would be better off getting a newer van on finance then building a nice D.I.Y system to save some money.

I say this because I know you are an advocate of not buying stuff that's not needed just like me.

There's no need to buy a system imo, a good tank and cage bolted down wouldn't cost a great deal. The rest as you know is just extra fluff, a couple of pumps and reels etc...

I bought a bigger van on finance last year and picked up a 700l tank with cage and 2 pumps, 2 controllers, battery and a 4040 R.O second hand off eBay for £450 .

[cleaniac]

Thats good feedback Adam.

You are correct, im not one to buy stuff for the sake of it. But if i can get a tank and pump di system, pro fitted in a van with a pole and gubbins for under 12k all crash tested on HP, ill be far happier plonking someone in it knowing its all safe than building a diy system that might not be as safe as it could be.  Plus after extensive advice and research, my employee liability insurance will possibly be invalid if knowingly put an employee at risk in a diy built van.

Im happy to keep using my van for me, but when it comes for being responsible for someone else, then its a different matter.

[cleaniac]

Put a sock in it Deegee. Im far from wealthy, im just trying to grow my business  and maybe perhaps become wealthy one day.

Its stupid comments like that, that let this forum down and keep people from posting.

[The Jester of Wibbly]

Put a sock in it Deegee. Im far from wealthy, im just trying to grow my business  and maybe perhaps become wealthy one day.

Its stupid comments like that, that let this forum down and keep people from posting.

Good advice.  Maybe you should take note of your own advice too