New van - tax efficient?

[darriusdax]

Hi Folks, advice needed here... I am a 51 yr old leak detection engineer/plumber 2 years into self employment which i am loving. To get going I bought a 61 plate transit which has been great but is now off the road for a few weeks at least - which now that i am established and making decent money is no longer a sensible option.. time for new or second hand.
I guess i have two questions i need opinions on.
1. Is a new diesel too much of a risk with the chance that diesel will become more and more expensive until banned around 2050.( we could all be dead by then !!)
2. Is a new van at 40k inc finance over four years an efficient way to drop your tax burden by 6-7k per year.
3. throw in a third one... is it worth getting an accountant or do you folks do your own accounts... i use free agent and a business account which does mean it is all there and recorded... easy to navigate.. but just about to do my first tax return which will tell me how much i want an accountant or not!!

I would really appreciate your feedback on this one.

Ps, my local ford garage is punting the custom limited for 33 plus vat at zero interest finance - because they are trying to ship them before the new model comes in i guess... but it is a pretty good deal versus buying a 1 or 2 year old with finance at current 12 percent rate... works out just about the same.

Thanks in advance team.

Nick

 

[Chuck]

Day-to-day 'book-keeping' can be done with a suitable app/online service, e.g quickbooks, but these don't give advice about tax-planning, pension savings, creditor management, inheritance planning, etc. For those, IMO, you will find it helpful to consult an accountant who specialises in small/sole-trader business. IME, accountants are very customer friendly and don't try to sell you services you don't need. Talk to a couple and see what they would recommend someone in your circumstances ought to do and how they might fit into the picture.