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Asset finance

Helping to optimise cashflow

Yorkshire Bank can help with your asset finance. We have the experience and connections to assist you finding the best solutions for future investment. From simple to comprehensive packages in the UK, our experience, complemented with partner support, will help you grow your business. Terms and conditions apply.

For all of our asset finance services, fees and charges will apply and will be dependent on individual circumstances.

Need Solution Benefits
Finance new assets with the freedom and flexibility of a cash buyer Hire Purchase
  • Purchase an asset without having to pay the full amount up-front
  • Low initial outlay and flexible payment patterns
  • No VAT on repayments
  • Own the asset on the agreement maturing and payment of a nominal completion fee
Acquire further assets without significant outlay Lease
  • Full use of asset with low initial outlay
  • Choice of flexible payment patterns
  • Receive some proceeds from the asset sale at the end of the term

Some of the industries that can benefit, include:

  • Manufacturing
  • Agricultural
  • Haulage
  • Engineering
  • Packaging
  • Plant hire
  • Transport (bus, coach and vehicle rental)

View our case studies

Features

Tick Standard (apply in most cases however there may be circumstances in which they do not apply).

Feature Hire Purchase Lease
Customer claims capital allowances Tick  
Eventual ownership Tick  
Interest allowable against tax Tick  
Rentals allowable against tax (some restrictions for cars over £12k)   Tick
Working capital & cashflow benefits Tick Tick
Fixed, Variable or Tailored funding options Tick Tick
Fixed term and repayments/rentals (subject to change in VAT) Tick Tick
No VAT on repayments Tick  
VAT on asset cost reclaimable Tick  
VAT on rentals reclaimable (50% restriction on cars with private use)   Tick
Receive or share in proceeds from asset sale Tick Tick

Tax treatments are in accordance with current Statements of Accounting Practice. The VAT and other tax restrictions described apply to new and some used cars. The restrictions do not apply to commercial vehicles and other assets.

The value of any tax benefits to you depends on your individual circumstances, the Law and Her Majesty's Revenue & Customs (HMRC) practice, which are subject to change.

The information given on these web pages is for guidance only. It is not intended as a substitute for professional advice, and you should ask your accountant and solicitor to advise you on the implications for your business of any of the options shown above, as these may vary depending on your business circumstances.

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