WHAT IS HIRE PURCHASE

If your company cannot afford to purchase an expensive asset outright (the cost of the expense will vary between companies) you can opt for a Hire purchase agreement.

The advances of HP deals are you only pay an agreed monthly fee typical over 3 years, to the lessor for the use of the asset.

This allows your company to grow, expand or even replace obsolete assets for a manageable monthly agreement.

Under an HP agreement you technically only hire the equipment for the term of the agreement and then have an option to buy it at the end of the period.

You can claim capital allowances on the purchase price of an asset acquired under HP, you can also claim a tax deduction for the interest charges arising under the agreement.

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If you are on thie extensive list you know that you live in our covered town.:

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WHAT IS HIRE PURCHASE