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 CONTRACT
HIRE (CH) FOR COMPANIES
Contract Hire for Companies
Sometimes known as an Operational Lease, Contract Hire
allows a company to pay for the usage of a car rather than
pay for the ownership. This is known as no risk and no
reward that is to say that at contract end you will simply
hand the car back. ( subject to mileage and the car being of
fair wear and tear ) Contracts are typically structured over
two or three years and give you the choice of having
maintenance included in the monthly rentals.
Best suited to companies who:
 Are
VAT registered and want to claim back VAT on rentals
(restricted to 50% assuming some private use)
Would
benefit from a fixed budgeting including maintenance
Do
not want cars appearing on balance sheet
Do
not want risk of disposal
Want
a low entry to an agreement typically one or three rentals
in advance
Want
to enjoy tax relief and positive cash flow without ownership
The vehicle will not appear on the company balance sheet and
tax relief can be gained by:
Offsetting
a percentage of each rental excluding maintenance against
tax
(subject to ‘The Half Excess Rule’ which calculates how
much percentage
one can claim according to the original value of the car
when new.)
Claiming
for maintenance and running costs
Terms and Conditions:
See
disclaimer sections (1) (3) (4) (9) DETAILED
AND INFORMED ADVICE Premier Finance Services Ltd is a licensed credit brokerage
specialising in arranging finance to customers buying motor
cars from dealers nationwide. With over 25 years experience in
financing, we can tailor an individual funding package to suit
all needs be it for private individuals wanting to protect
their personal investments when buying a car, or wanting to
use their cars for business purposes as well as for pleasure.
Our services extend to companies or fleet managers where we
assist by advising on best methods of financing cars according
to budgets required, balance sheet issues or wanting to
maximise on tax relief. We can assist our clients with matters
of taxation on cars by clarifying company car tax and
indicating tax benefits that can be obtained by people using a private car for
business.
Companies acquiring cars for their staff either as company
cars or who want to offer their employees a monthly allowance
instead, often look for guidance on what to do and how to do
it, where again we can step in and offer informed advice and
arrange corporate finance packages to suit.
FINANCE
AVAILABLE FOR:
Light
aircraft
Equipment
purchases
Classic
cars
Pleasure
boats
Yachts
Commercial
vehicles
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At Premier, we have dedicated experts who deal with
Asset
Finance for companies financing equipment purchases,
Marine
Finance for purchasing boats and
Aviation Finance for
purchasing aircraft along with our auto experts for
Classic Car Finance and
Truck Finance.
Click here for our office contact details
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