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Lease v Buy

By leasing equipment your business could benefit from tax relief on the profits you earn.

Tax relief is also available for cash purchases, so have a look at the examples below to see what is best for you:

Assumptions:

Equipment Cost £8250.00  
  Term 3 years  
  36 monthly payments of £284.63  
  Tax relief @ 21%  

Lease Rental

   
Year    
Monthly Payments
Tax Relief @ 21%
1 £284.63 x 12  £717.27
2 £284.63 x 12  £717.27
3 £284.63 x 12 £717.27
  Total Tax Relief £2151.81

Paying Cash

   
Year    
Capital Allowances
Tax Relief @ 21%
1 18% of £8250.00 = £1485.00 £311.85
2 18% of £6765.00 = £1217.70 £255.72
3 18% of £5547.30 = £998.51 £209.69
  Total Tax Relief £777.26

 

Notes: Equipment costs and monthly payments assume VAT should be added. The above are for example purposes only and tax relief is based on 21%. Always consult your accountant or financial advisor to see what is best for your business.

Want to find out more about tax relief? Click here

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