Business Contract Hire is commonly referred to as vehicle lease and allows businesses a fixed payment method for the use of a vehicle for a term of normally between 12-48 months. The payments attract VAT of which for cars 50% and for commercial vehicles 100% of the finance element is reclaimable, 100% of the VAT for any maintenance payment is reclaimable. The rental payments are also classed as a true business expense so can be wholly offset against corporation tax. The benefits are fixed monthly payments with no disposal risk but reasonable care has to be taken of the vehicle and also there is an obligation to remain under the stated mileage at the contract inception or the finance company will levy a charge for loss of value.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
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Tate Leasing & Contracts
Tate Leasing & Contracts are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 815832
Registered in England & Wales with company number : 01301975 | Data Protection No : Z3320502 | VAT No : 301189982
Registered Office : Steelcroft Works, Gay Lane, Otley, West Yorkshire LS21 3BB
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