HMRC Updates its Guidance for Salary Sacrifice Schemes

HMRC Updates its Guidance for Salary Sacrifice Schemes Her Majesty’s Revenue & Customs (HMRC) has updated its guidance on the government website regarding the introduction of salary sacrifice schemes, following the changes which came into effect in April this year. The government announced in last November’s Autumn Statement that it was changing the rules covering salary sacrifice schemes, which have become increasingly popular in recent years. Why were there changes to salary sacrifice schemes? Salary sacrifice schemes had led to some employees paying less tax than their colleagues, which was not fair, said the government in the Autumn Statement. As a result, those opting to take benefits through new salary [...]

Vehicle Funding Guide

Vehicle Funding - What are the Options? Introduction In the UK, the majority of business vehicles are sourced using contract hire, although other vehicle funding options are available and may be more suitable to your organisation. This vehicle funding guide has been created to help you understand the differences between funding options and think about what might suit you/your business the most. Here we review some of the options: Contract hire Finance lease Sale and leaseback Contract purchase Hire or lease purchase Outright purchase   At Maxxia, we offer a wide range of business car finance options and will work with you to find the right fit for [...]

Global cyber-attack reinforces need for IT security

Organisations need to invest in latest IT systems to stay safe and secure A cyber-attack using WannaCry ransomware, which hit organisations in 150 countries around the world including the National Health Service in the UK, reinforces the need to keep computer hardware and software as up to date as possible. Software giant, Microsoft, said the attack should be treated by governments around the world as a "wake-up call", and blamed them for storing data on software vulnerabilities which could then be accessed by hackers. It says the latest attack exploited a flaw in its Windows operating system which was first identified by, and then stolen from, US intelligence. The virus took [...]

How does sale and leaseback work?

How sale and leaseback could work for you Need help determining the right route when it comes to investing in business vehicles? If your organisation has previously purchased vehicles outright, it may be worth taking a different approach and considering alternative finance options. Buying vehicles outright could be putting unnecessary financial strain on your business, but this is not, by any means, the only method of acquisition available to you. Here’s how to make the move to contract hire, starting out with a sale and leaseback agreement.   What is sale and leaseback? Sale and leaseback is when a company sells its purchased vehicles to a third party contract hire [...]

How To Plan Your Asset Finance Procurement Process

Funding For Schools: How To Plan Your Asset Finance Procurement Process Funding school equipment with a solid leasing plan can help schools to get what is required to provide students with the tools necessary for a good education. Instead of buying outright, school leasing can significantly help school managers to organise their cash flow more efficiently, by reducing capital outlay and allowing schools to make regular payments over a longer period of time. If you do decide to put together a plan for leasing school equipment, it will pay to have a clear asset finance procurement process in place. A solid procurement strategy for your school will mean a more [...]

By |February 11th, 2017|Categories: Asset Finance, Education|2 Comments

Press release | Maxxia acquires Capex Asset Finance

Maxxia adds Midlands-based asset finance broker to growing portfolio of companies Maxxia UK (Maxxia), provider of enterprise-wide asset financing solutions, has acquired independent, privately owned asset finance brokerage, Capex Asset Finance Limited (Capex), based in the Midlands. Capex joins the group of companies owned by McMillan Shakespeare Limited (MSL), an Australian listed company. The deal forms part of the MSL growth strategy in the UK and follows the acquisition of CLM Fleet Management in 2013, Anglo Scottish Asset Finance in 2015 and, more recently, Eurodrive Motor Finance in late 2016. Capex, which is based in offices in Central Birmingham, has been trading since 2004 and is a specialist in the [...]

By |January 16th, 2017|Categories: Asset Finance|0 Comments

Commercial Vehicle Funding: What Are Your Options?

Commercial Vehicle Funding: What Are Your Options? Purchasing large commercial vehicles for your business can mean juggling budget allocations, and running financial risks – especially where cash flow, or lack thereof, can be a huge strain on your business. If purchasing heavy duty vehicles is not an option for your company at present, commercial vehicle funding may provide you with a more flexible solution that will give you the assets you require for business purposes, all while reducing the risk of cash flow problems. Of course, buying outright offers the advantage of having the asset as your own and the flexibility that brings. However, it is important to remember the [...]

Press release | Maxxia acquires Eurodrive Motor Finance

Maxxia UK adds specialist point-of-sale car finance broker to its growing portfolio Maxxia, provider of enterprise-wide asset financing solutions, has acquired one of the UK’s leading specialist point-of-sale car finance brokers, European Vehicle Contracts Ltd which trades as Eurodrive Motor Finance. Eurodrive joins the group of companies owned by McMillan Shakespeare Limited (MSL), an Australian listed company. The deal forms part of MSL’s growth strategy in the UK and follows the acquisition of CLM Fleet Management in 2013 and, more recently, Anglo Scottish Asset Finance in 2015. Newcastle-upon-Tyne based Eurodrive is a specialist in vehicle finance, operating through a network of 400 franchised and independent new and used car dealers, mainly [...]

Asset finance market shakes off Brexit fears

Buoyant September market in all asset finance classes The asset finance market in September shook off any fears over Brexit and the economic uncertainty surrounding the UK’s decision to leave the EU with one of the strongest performances of the year. General economic indicators have remained positive despite the Brexit uncertainty, and the Bank of England revised upwards its growth forecasts for 2016 and 2017 and maintained the bank rate at 0.25% at the latest meeting of the Monetary Policy Committee. The first official estimate of GDP in the third quarter of 2016 showed that the UK economy had continued to grow despite concerns following the EU referendum result. At [...]

By |November 14th, 2016|Categories: Asset Finance|0 Comments