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Hire Purchase

A Hire Purchase agreement is where the financier owns the goods and gives possession and use to you in return for regular instalments. When the final instalment is made you own the goods.

However for tax purposes, your are regarded as the owner from commencement of the Hire Purchase Agreement and if the goods are used for business purposes then depreciation & interest charges that relate to the business use are tax deductible.  

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The instalments are generally paid either monthly, quarterly, semi-annually or annually. If you a have a business that has seasonal income, you can elect to make your repayments on a seasonal or irregular basis.

 

For further details please complete the Enquiry Form on this page or Contact Us at Broadlink.

 

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