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Car Lease by a Director to his business

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Hi there,

One of my client is insisting if he could actually have a car lease in his name and then Lease it out (as an operating lease ofcourse) to his Soletrader or Company?

My understanding is that he cant do so with Soletrader business as it is the same entity. However, I would like a second opinion on whether he could charge Rentals on his Personal car usage, from the company, as a Dierctor and how would that be treated in the books?

A help will be much appreciated.

 

Kind regards

 

 

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By Kevingreig
Mar 22nd 2017 16:02

please clarify your facts and question.

Is the business owned by your client?
Is the business a Corporation, LLC, or ???
Is your client leasing a vehicle and wants to sub-let it to another person or entity?

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