You would be responsible for repairing and maintaining the coach throughout the rental period, with the coach being required to be returned at the end of the rental period in the same condition as at collection; fair wear and tear accepted. In short, you should operate, maintain and repair the vehicle, treating it with exactly [...]
You would be responsible for maintaining fully comprehensive insurance on the vehicle throughout the rental period.
The first rental payment is taken when the vehicle is delivered (at the same time as the security deposit). Subsequent payments are then taken on the same date each month, commencing one month later, until the end of the rental period.
This is refunded immediately at the end of the rental period, providing the coach is returned in the same condition (fair wear and tear accepted), or adjusted pro rata for any outstanding damage. If you have chosen a “Rent to Buy” rental and decide to purchase the vehicle at the end of contract, the deposit [...]
This varies slightly depending on the vehicle chosen, however the security deposit is normally around £3,000. This would be required to be paid in advance of the vehicle being delivered. (VAT is not charged on the security deposit).
A legally binding written contract would be in place, which would be sent in advance for you to fully inspect when making a rental enquiry.
As you would not own the vehicle during the rental period, the monthly payments are regarded as a direct business expense and are therefore fully tax deductible.
VAT is chargeable on the monthly rental figure at the prevailing rate specified by HMRC. However the VAT charges are fully recoverable if your business is registered for VAT.
We are pleased to have some of the UK’s leading award winning coach operators as our regular customers; some of whom return and rent from us year after year. These very high profile clients all fully appreciate the benefits and flexibility that vehicle rental can offer, particularly as an alternative when only requiring a seasonal [...]
By only having to pay a low security deposit and one months rental payment in advance, this provides an easy way to obtain an additional vehicle with a very low initial cash outlay. Also in being able to return the vehicle at the end of the term, it also eliminates the risk of purchasing the [...]