PRODUCTS

UK Asset Finance offers a range of finance packages, the terms of which can be structured to meet individual requirements.

The two most common products are

Hire Purchase
An initial deposit plus the full VAT, if applicable, is paid leaving the balance plus interest to be spread over an agreed term, typically 12-60 months. Hire Purchase gives you the opportunity to own the asset at the end of the period. The agreement is secured on the asset being financed. Repayments can be tailored to match your business needs - so you know exactly what you have to pay and when. A Hire Purchase agreement usually enables you to claim writing down allowances.

Finance Lease
An initial payment or advance rentals are paid, the balance plus interest is spread over an agreed term, typically 12-60 months. VAT is payable on the initial payments and all rentals. At the end of your lease agreement you have two options, either continue to use the asset by simply paying nominal rentals, or sell it on behalf of the finance company and benefit from a proportion of the sale proceeds, typically 95%. The rentals are 100% allowable against tax in most cases.