What are the tax differences between leasing and purchasing forklift trucks?

Direct purchase

When you buy the truck, it becomes an asset of your company. This means that:

• Amortisation: The forklift is recorded on your company balance sheet and depreciated over its useful life, allowing you to reflect depreciation in each financial year.

• VAT deduction: You can deduct VAT on the entire purchase at the initial time, as long as you use the forklift exclusively for business purposes.

• Deductible interest: If you finance the purchase with a loan, the interest you pay is deductible as a financial expense, which helps to reduce your tax burden.

Si prefieres deducir el IVA de una sola vez y contar con el activo en tu balance, la compra puede ser lo más adecuado. Pero si buscas reducir gastos de manera constante y tener un gasto predecible cada mes, el renting es una opción que te permite planificar con mayor flexibilidad y sin inmovilizar capital.

Renting: On the other hand, leasing works differently and has its own advantages:

• Deduction of instalments: Each monthly instalment is deducted as an expense, which facilitates a tax reduction without the need to depreciate the asset.

• Periodic VAT deduction: The VAT on the instalments is deducted at each periodic settlement, making the impact progressive.

• No assets on the balance sheet: As you are not the owner, you do not have to include the forklift on the balance sheet or worry about depreciation. In addition, the fees usually include maintenance and insurance, which simplifies management.

Which is the best option for you?