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Business Banking
Return to Asset Finance HomeLeasing
With the use of Tax Based Leasing, customers are able to use plant, equipment or vehicles without having to own them. In effect, these can be rented initially over a 2-5 year term.
What is it?
Tax Based Leasing is a long-term hire arrangement between the customer and the Bank. The customer pays rental for the use of the equipment and at the end of the hire period the goods can either be retained for an extended secondary period or alternatively, disposed of. Companies can benefit from a proportion of the sale proceeds upon disposal. This is particularly suited to longer-term transactions for large items of machinery linked over 5-7 years.
Benefits
- Rentals are normally lower than Hire Purchase instalments as they reflect the effect of the Bank claiming ownership allowances
- Customers can benefit from sale proceeds
To apply, or for more information, send us an email or contact your local business team
For full Terms and conditions, please refer to our Guide to Business Banking - 123KB PDF Document.
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