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Leasing - Frequently Asked Questions
Most companies lease some or all of the following equipment; IT, office furniture, cars, vending machines and mobile phones. It is also worth noting that 90% of the Times Top 100 companies use leasing. We have prepared answers to some frequently asked questions.


Payments and Rates

Question: How do I make lease payments?
Answer: Direct Debit or invoice for a small surcharge

Question: Will the rental amount change during the lease?
Answer: No, they will remain the same unless the Government changes the rate of corporation tax or VAT changes.

Question: Will my rates be affected by interest rate changes?
Answer: No, your lease rates are agreed in advance of you signing the agreement and equipment rentals remain fixed thereafter.

Question: Does the lease rental include insurance of the equipment?
Answer: No, you will need to arrange insurance cover at your own expense

Question: I’d like to pay less for leasing my equipment – is this possible?
Answer: The amount of lease payable is calculated based on the term of the lease and the value of the equipment. If you would like to reduce the payment you can either extend the lease term or pay a deposit in advance.

End of lease

Question: What if I decide to replace the equipment?
Answer: A leasing facility allows you to update your equipment during, or at the end, of your lease.

Question: What happens to my equipment at the end of the agreement?
Answer: At the end of the minimum term you are given options to upgrade to the latest technology, continue renting the equipment or you may cancel by giving one month’s notice, in writing, with no penalty.

Cash or loan options

Question: Why not buy the equipment outright?
Answer: If you buy the equipment outright your money is tied up in an asset, which will depreciate in value with time. Leasing equipment allows you to invest your money in a more profitable side of the business. There is also the added benefit of tax relief on rentals.

Question: Why not borrow the money instead?
Answer: Using an existing credit line will prevent you from being able to use it in the future. Also, borrowing is affected by changes in interest rates, whereas leasing is not. Loans do not give you the ability to change equipment by upgrading or adding items.


Tax issues

Question: What are the tax benefits of leasing my equipment?
Answer: Lease rental payments are deemed by the Inland Revenue to be 100% tax deductible. This means payments may be treated as an expense, which means that your organisation pays less tax!

Question: If I chose a lease purchase option instead of a lease rental, can I still gain the same tax advantages?
Answer: No, a lease purchase gives you ownership of the equipment on making the final payment on the agreement. You can only claim Writing Down Allowances on the capital value of the equipment and on the interest element.