I assume by “lease” you mean you are in essence renting it? In which case, if the car has emissions under 110g/km, you can get tax relief on all of the payments. If the car’s emissions are above 110g/km, then 15% is blocked for income tax or corporation tax purposes.
Please review the invoices carefully, as half of the VAT is often blocked on lease payments- on the assumption that they often have a mixture of business and personal use.
If you would like to discuss your plans before you sign anything, your local TaxAssist Accountant would be happy to help.
By Jo Nockels
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