Medical

LATEST NEWS

Tim Baker Joins Snowbird Finance from Shawbrook Bank
30.11.20

Snowbird Finance is delighted to announce that Tim Baker has joined the team as National Sales Manager to grow and increase Snowbird Finance's patient finance offering under the brand of...

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TESTIMONIAL

It is suprising how much the business has grown now that we are able to offer finance. Our patients feel more relaxed knowing they can pay for their treatment in monthly instalments, rather than in one lump sum. Offering finance means that now, our patients have the freedom to move forward with the specialised treatments they want, for the desired look they wish to achieve

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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.