What you need to run a van through your business

van-982912_640When running a van through your business (whether this is a personal vehicle or part of a commercial fleet that is classed as an asset), there is a wealth of information that needs to be processed and subsequently applied. By following this data and ensuring that it is followed to the letter, you can ensure that you are compliant with national law and optimise the financial savings you are able to access as a venture owner or service provider. Knowing where to start is a challenge, however, but there are one or two main guidelines that can help you to succeed.

3 Primary things to consider when running a van through your business

With this in mind, here is a brief but informative guide to some of the main considerations when running a van through your business model. These include: –

The Potential for Tax Relief

Depending on the nature of your van, you may be able to claim tax relief on fuel consumption and mileage. If you own a pre-existing van that is external to the business and not classed as a commercial asset, for example, you can claim back money on fuel and mileage in instances where the vehicle is used for business purposes. These claims require substantiation, however, so be sure to retain receipts detailing your expenses and paperwork that ownership of the van is separate to and independent of the running of your business.

The Overwhelming need for Breakdown Cover

Whether you deliver a service within the local area or distribute products to consumers, your van may quickly become the lifeblood of your business. Its successful performance and maintenance will underpin any business model that you operate, so it is imperative that you have adequate breakdown coverage that negates the cost of unforeseen repairs. Remember, the breakdown of your van will not only drive direct repair costs, but it will also create downtime and a potential loss of sales.

The Need for Additional Insurance as a Courier

If you deploy a van simply to transport you from one location to another, standard commercial insurance and breakdown coverage should be enough to suit your needs. If you use your van to transport and courier consumer goods, you may need to invest in haulage insurance if you are to truly protect your investment. Standard coverage is unlikely to make provision for any good that are damaged in a collision, for example, whereas business-owners with haulage insurance can make a claim that includes the cost of any collateral damage.

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