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With the constant pressure to upgrade equipment and services, acquiring new equipment through a lease is an effective way of managing your cashflow. Particularly if you are a new or expanding dental practice with tight budgets, there is no large outlay or deposit to pay and at the end of the lease agreement, ownership of the equipment can pass to you for a nominal fee. In essence, a lease agreement allows you to acquire practice equipment now whilst preserving cash reserves for use elsewhere in the business. This reserve cash is essential for covering those costs that cannot be so easily financed; such as laboratory fees, wages and national insurance.
With a lease agreement, fixed instalments are paid monthly and payments can be spread over up to 7 years. It is possible to finance most of the equipment in your practice such as X-ray machines, sterilisation devices, IT systems, cabinetry and fixtures & fittings.
When purchasing equipment in this way, we can 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. Leasing enables you to offset each monthly repayment as a practice operating expense, making the total repayable fully deductable over the term of the agreement.*
Leasing is a simple, tax efficient, fixed-cost funding solution that enables you to control budgets, increase profitability and improve user satisfaction.
To discuss your dental equipment leasing requirements, contact us now.
*You have sole responsibility 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.