Not sure if this is in right section but here goes! My hubby currently has a car on contract hire which was on a business contract as at the time he was self employed. The lease ends in March and at the moment he is now not working at all. If he gets some work and is still self employed when the lease runs out we will go on to get another car and have another contract the same. If he isn't working at all though will he be able to do the same or will it have to be on a personal contract lease? Also he gets a car on business contract then later on ends up been employed does this make a difference?
I believe that he should renew the contract through the business as long as he is actively looking for work and still self employed. If he has ceased to work then the situation is different and will not be able to class this as a business expense.