29.09.2011
Niftylift offers 1.5% finance
UK based manufacturer Niftylift has announced a range of finance packages in order to help UK buyers take advantage of the current tax incentives. These allow a 100 percent tax offset on the first £100,000 of Annual Investment Allowance (AIA), even if the units are acquired on a three year hire purchase plan, offering an attractive cash benefit.
The packages, which include three and five year deals, with interest rates as low as 1.5 percent flat, are available for any of the company’s products which include trailer lifts, self–propelled booms and SD/all terrain booms.
The company said: “We have recognised that many potential customers would like to invest in the latest access equipment, but may be reluctant to approach their bank for fear that their entire banking facilities will be ‘reviewed’. We have therefore come up with a solution to help overcome this obstacle and circumvent bank reticence by offering UK businesses the opportunity to take advantage of special finance deals arranged by Niftylift.”
The UK tax incentives which currently include a 20 percent annual write down, expire on April 1st next year. At that time the AIA will drop to £25,000 and the annual write down to 18 percent.
Just responding to Jim's comment that rental companies will be unable to claim these allowances unless an operator is supplied with the kit. This was a point clarified with HMRC back in 2008 when the old 40% First year Allowances (FYA)were replaced by the new Annual Investment Allowance (AIA). It had been the problem with the old FYA but it does NOT apply to the AIA. All companies can claim the AIA but can only claim it once in each tax year and the clock is ticking before the current £100,000 is reduced to £25,000 from next tax year (April 2012). For businesses who have not spent their full £100,000 - don't leave it too late because the plant has to be available for use in the business by that date.
jim-longstaff
This is ideal for the end-user, but unless the equipment is being used complete with an operator, then rental companies cannot claim these allowances, as the UK tax office consider them to be purchased for "Hire & Reward" and therefore they are not entitled to AIA's.
Pity, but there we are!