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'I have known Simon Freeman and have been using Snowbird Finance for many years. They have been key to the fulfilment of our business plans, particularly during our relocation and expansion in 2012 and 2013'
Helen Harrison, Granta Dental
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Acquiring new equipment through lease rental for your optical business is an effective way of managing your cashflow, particularly if you are newly established as there is no large outlay and no deposit to pay, leaving you to save working capital for other projects.
Lease rental payments are fixed and can be spread over terms up to 5 years, paid monthly in advance, so you know exactly how much you need to pay each month, regardless of the prevailing base rate.
When acquiring equipment in this way, we can usually add any VAT on the cost of the equipment to the lease arrangement so that it can also be paid over the term and not in advance, relieving unnecessary pressure on your cashflow and helping you manage your VAT de minimis calculations. For more information, go to our VAT de minimis page.
As you do not own the equipment you are not eligible for the Annual Investment Allowance (AIA) tax relief. However, you are able to offset lease rental payment costs against your business’s corporate tax liability throughout the life of the lease agreement so over a full 5 year lease agreement you should receive the same level of tax relief as you would have after the first year of a lease purchase.*
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*You have sole responsbility for the management of your tax and legal affairs. We recommend that you obtain your own independent tax and legal advice tailored to your individual circumstances. Snowbird Finance does not provide tax or legal advice.