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Comparison of Leasing tax relief against Cash/Hire purchase tax relief

Cash/Hire Purchase
Cash price net of VAT   £6,000
     
50% allowance given in year 1 £3,000
13% allowance given in year 2 £750
9% allowance given in year 3 £563
72% allowance given over the useful life of the asset £4,313
From £43.00+

Lease Purchase
Cash price net of VAT   £6,000
 

Under generally accepted accounting principles you are able to claim 100% tax relief over the useful life of the equipment, which is usually taken to be the term of the lease

  
33% allowance given in year 1 £2,000
33% allowance given in year 2 £2,000
33% allowance given in year 3 £2,000
100% allowance given over the useful life of the asset £6,000
From £43.00+

Comparison of Leasing tax relief against Cash/Hire purchase tax relief

Assumptions

Capital cost of equipment £6,000
Useful life  3
First year allowance rate 50%
Writing down allowance 25%

For more information on how leasing can help you call:

Laura Tocknell on 01675 469224 f: 08717 334836

or Vicki Jeynes on 01675 469207

Quote Ref: Fleet Parts Ltd

laura@kennet-leasing.co.uk www.kennet-leasing.co.uk

 

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Last modified: 06/14/08