BUSINESS CONTRACT HIRE
Contract Hire is a very popular choice for V.A.T Registered companies with more than 40% of companies choosing this Funding method (Fleet Week).
Having minimum outlay and maximum control of costs coupled to the Tax advantages and reduced administration assists business to budget more accurately for their vehicle requirements. Contract Hire is available to Sole Traders, Partnerships and Ltd Companies.
Finance /Taxation Benefits
- Accurate Monthly Budgeting
- Off Balance Sheet
- Improved Cash Flow
- Minimum Capital Expenditure
- Fixed Interest Rates
- Rentals Allowable against Taxable Income
- V.A.T Recoverable on Monthly Rentals*
- No Depreciation Risks
* Only 50% of the V.A.T relating to the Finance element is recoverable if car has private usage. 100% if Business only. On Contracts with Maintenance the Service element V.A.T is Recoverable.
Vehicle Running Benefits
- No Vehicle Disposal Problems
- Reduced Administration
- On-going Advice and Support
- Road Fund Licence Provided for Duration of Contract
- Optional Maintenance Package
- Optional Breakdown Rescue Cover
- Optional Replacement Vehicle Cover in Event of Breakdown
- Optional GAP Insurance*
*GAP Insurance provides cover for the Short-fall between the outstanding Finance and the Insurance Value if vehicle is declared a Write-off by your Insurance Company.
