A Simplified Look At The Main IFRS 16 Changes

How does IFRS 16 affect you? What is IFRS 16? IFRS 16 (International Financial Reporting Standard) is a new standard for lease accounting which will come into force in January 2019. It will replace the existing IAS 17 lease accounting standard. It’s been put together by the International Accounting Standards Board (IASB). At first glance, it’s a complicated piece of accounting legislation which could potentially be a nightmare to navigate. On closer examination, however, [...]

Contract Hire For Business – What are the Tax Implications?

Contract Hire for Business – What are the Tax Implications? Leasing company cars and vans, rather than buying them outright, is now well established for businesses. It provides known, easily budgeted costs with no hidden surprises and predictable cash-flows. The most popular type of vehicle leasing for businesses is contract hire. It's a form of operational leasing which allows the end user or lessee to hire a car for a set period of time and [...]

Company Car Schemes– Keep or Discard?

Thinking Of Ending Your Company Car Scheme? Announcements in the 2017 Government Autumn budget of tax increases on company vehicles have prompted many businesses to consider giving their employees cash allowances in place of running company car schemes. On the face of it, this would seem to be a cost-effective solution for the company, but comes with often-overlooked ramifications which impact on employees and company alike. Some of these consequences appear to be relatively [...]

Maxxia Joins FN50

Fast-growing Maxxia Joins League Of Top Leasing Companies Maxxia, already one of the country’s largest and fastest-growing broker businesses, has entered the FN50 league table of the top 50 contract hire and leasing companies in the UK for the first time. The Group, which has witnessed strong UK growth as the result of organic growth and targeted acquisitions, has seen saw the number of its employees more than double in the last three years [...]

Personal Car Finance Increases

Personal Contract Purchase and Personal Contract Hire Fuels Growth in the UK Car Leasing Market More new car buyers are alive to the benefits of personal leasing, according to the latest quarterly survey carried out by the British Vehicle Rental and Leasing Association (BVRLA). Total car leasing, including leasing of all types, grew by 8% year-on-year in the second quarter of this year, and much of this growth has been driven by the personal [...]

Contract Hire Explained: Most Popular Vehicle Funding In UK

Contract Hire Explained – A Guide To The UK’s Most Popular Vehicle Funding Method There has been a definite shift towards the contract hire of company vehicles since the last recession, not least because it provides known, easily budgeted costs with no hidden surprises. But what is contract hire exactly and how does it work? What is contract hire? It’s the most popular type of vehicle leasing in the UK, and allows the end [...]

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 [...]

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 [...]

Minibus Rental Or Minibus Lease?

Minibus Rental Or Minibus Lease? Transportation for any organisation can be costly and should be managed with care in order to reduce unnecessary expenditure. So when it comes to sourcing and funding a minibus, it is worth weighing up all your options before diving straight into buying outright. Have you thought about minibus rental? Or considered minibus leasing? Each has its merits and should be closely considered before handing over large sums of capital, [...]

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