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Features and Benefits of Leasing
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Fully tax deductible - Every payment made to a lease is fully tax deductible, meaning that you can claim back up to 40% of the total amount that you lease (see example).
Spreads the cost of equipment over several years - Normally over the equipment's useful life.
Doesn't tie up capital - leaving more money to invest into your business.
Flexible - a lease can be set up over any term, monthly, quarterly, half yearly, annually, with varying deposits needed.
Easy to budget - a lease is a fixed term, fixed rate contract. Whatever happens to interest rates, your payments will remain the same throughout the term of the contract.
Easy to set up - all documentation will be completed for you and setting up a lease is very straightforward.
Getting the right machine for the right job - because a lease spreads the cost of financing capital equipment, it enables you to buy the right machine for the job, instead of perhaps buying the machine you think you can afford.
Example of Fixed Term Leasing
- Cost price of goods £10,000
- 5 year lease @ £239.33 per month or £8.55 per day
- Total payable = 239.33 x 60 months = £14,360
- You pay £4,360 over five years in interest
- A lease is fully tax deductable so £14,360 is allowable against tax
£14,360 x 40% = £5,744 saved in tax
- The reduction in tax to be paid more than covers the interest of £4,360 therefore the lease is effectively self financing and more.