The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. A full...
We would highly recommend Snowbird finance to anyone who is thinking of providing finance to their patients. The portal is easy to use and a very quick solution to set up patients so they can do it themselves at home saving the practice time. Patients comment how easy and quick it is to apply and love how quick they get a response. The support we get from all members of Snowbird is exceptional. We couldn’t be happier with every aspect of their service.
Natalie Rogers, Practice Manager
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Acquiring new equipment through leasing is an effective way of manaing your cashflow as there is no large outlay and no deposit to pay, leaving you to save your working capital for other projects.
The usual length of a lease agreement is up to five years,during which you will have fixed instalments paid monthly in advance regardless of the prevailing base rate.
A number of medical practices are not VAT registered so when purchasing equipment in this way we can usually add any VAT from the cost of the equipment to the lease arrangement so that it can also be paid over the term.
Leasing does not qualify for the Annual Investment Allowance (AIA) as the equipment is not listed as a fixed asset on your books. However, you may be able to offset lease rental payment costs against your business's corporate tax liability throughout the life of the lease agreement. Essentially this means that over a full 5 year lease agreement, you should receive the same level of tax relief as your would have after the first year of a lease purchase.*
Click here to get in touch to discuss your next finance agreement.
*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.