The Simple Guide to IFRS 16: What You Need to Know

IFRS 16 is a new International Financial Reporting Standard for lease accounting which came into force on 1 January 2019. It replaced the existing IAS 17 accounting standard and was introduced by the International Accounting Standards Board (IASB).

At first glance, it’s a complicated piece of accounting legislation which could potentially be difficult to navigate. On closer examination, however, it’s fairly straightforward to understand, but could be less so to implement.

Here we try to make […]

2020-04-19T07:53:06+00:00March 5th, 2019|Categories: Accounting, Asset Finance, Contract hire, Vehicle Finance|

New Contract Hire Offers from Maxxia

We have a new selection of special offers to share with you.

The prices are keen, the vehicles are available and the stocks are limited, so act quickly to make sure you don’t miss out.

This month’s car offers include the Tesla 3, Vauxhall Corsa Electric and MG Motor ZS Electric for those interested in tax busting vehicles. On the van side, there’s the Renault Trafic LWB 30.

If you don’t see anything that’s quite right, get in […]

2020-04-19T07:51:52+00:00February 22nd, 2019|Categories: Asset Finance, Cars, Contract hire, Vehicle Finance|

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 minor but, taken as a whole, can seriously […]

2020-04-19T08:09:01+00:00March 5th, 2018|Categories: Cars, Contract hire, Fleet management, Salary Sacrifice, Vehicle Finance|

Personal Car Finance 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 and leasing (PCH) sector. The BVRLA figures show that the PCH sector […]

2020-04-19T08:05:54+00:00October 11th, 2017|Categories: Cars, Contract hire, Vehicle Finance|

Contract Hire Explained: Most Popular Vehicle Funding In UK

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 user or lessee to hire a car for a set period of time and pre-determined […]

2020-04-19T08:03:45+00:00October 4th, 2017|Categories: Cars, Contract hire, Vehicle Finance|

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:

2020-04-19T08:03:13+00:00September 7th, 2017|Categories: Asset Finance, Cars, Contract hire, Vehicle Finance|

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, that could affect the […]

2020-04-19T08:31:43+00:00February 14th, 2017|Categories: Contract hire, Vehicle Finance|

Van Leasing: What You Need To Know

Need to source some new or additional vans for your business? Considering leasing a van?

For businesses where the transportation of goods or a delivery service is required, a fleet of vans can be crucial to the effective running of the organisation. Expanding or replacing your vans will require significant investment and managing that in a way that does not impact heavily on your business cash flow, can be tricky. If you’re currently in the […]

2020-04-19T08:29:17+00:00November 9th, 2016|Categories: Contract hire, Vehicle Finance|

How a salary sacrifice scheme can make your grey fleet leaner and greener

The company car has been an integral business component for decades, but these days businesses are facing a number of issues have raised questions over its traditional role.

To start with, many organisations are realising that in the age of the information superhighway, there is a reduced the need to travel up and down the UK’s highways and byways. Furthermore the cost of administering company cars has made many companies less eager to offer this […]

2020-04-19T09:08:41+00:00January 2nd, 2014|Categories: Cars, Contract hire, Salary Sacrifice, Sustainability, Vehicle Finance|
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