Hire Purchase
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Hire Purchase - spread the cost of ownership over the useful life of your asset
Hire Purchase
Hire Purchase is a straightforward repayment facility that enables you to ultimately own the asset. The cost of an asset can be spread over its useful working life and paid for out of the revenue it earns. Payment patterns can be tailored to suit individual needs, generally involving a deposit followed by a series of periodic instalments.

Key features and benefits:
  • With ownership you have total control over the asset.
  • Ownership normally carries the potential for claiming writing down allowances and/or capital grants, including any enhanced first year allowances.
  • VAT on the cost of the asset is normally reclaimable*.
  • Fixed or variable interest rate - you make your own assessment and choose accordingly.
  • The interest element of repayments can normally be offset against taxable profit*.
  • The asset appears on your balance sheet.
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