Self employed
car leasing.

Yes. Funders assess self-employed applicants on trading history, income evidence and credit file. Two or more years of accounts makes it straightforward; twelve months is workable with a good credit file and a larger initial rental.

Business contract hire quotes exclude VAT and a VAT-registered business can usually reclaim half of the VAT on the rentals for a car, plus all of it on a maintenance package. Personal contract hire is quoted inclusive of VAT with no reclaim, but has no impact on your business books. Which wins depends on your VAT position and private use.

Photo ID, proof of address, and typically the last two years of accounts or SA302s. Sole traders are often asked for three to six months of bank statements as well. Directors of newer companies may be asked for a personal guarantee.

Rentals on a business lease are generally an allowable expense, though there is a restriction on higher-emission cars, and personal use of a company car brings benefit-in-kind into play. This is exactly the sort of thing to confirm with your accountant — we will give them the full quote breakdown.

Often yes. Several funders accept a signed accountant's reference or draft accounts while the final set is being filed. Tell us at the start and we will steer you to those funders rather than the ones that will only take filed accounts.