Hire Purchase Product
Hire Purchase (HP) is where you secure your finance against an
asset, meaning that it doesn’t belong to you until all of the
money has been repaid.
On a HP agreement, you will make fixed monthly payments over
an agreed amount of time and you will usually be responsible for
the maintenance of the equipment.
You will be treated as the owner of the asset which means that
you will also be able to claim capital allowances.
VAT Deferral Option
Under a HP agreement, VAT is usually required to be paid up front.
We understand that this can put pressure on your business’s
cashflow as it can take up to three months before you can
claim it back through a VAT return.
To help with this, we offer you the chance to defer the VAT for up
to three months from the date that the finance agreement starts.
For further information on Hire Purchases and VAT
deferral, call 0115 958 6872 or email