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Our tree planting trip!

January 31, 2022/0 Comments/in Blog, Sustainability/by Jess Wells-Flint

As you may already know, in the latter part of 2021 we teamed up with Ecologi, and now we have already been on our first of many tree planting trips! Ecologi are a company dedicated to tackling our current climate crisis. They do this by arranging the planting of an abundance of trees across the world, in an effort to offset the planet’s surging carbon levels. So, through them, we made ourselves a climate positive company. Whilst also putting a scheme in place where we will plant trees through them for each month of a finance agreement made through us.  

Protect Earth

So, we thought it would only make sense to offer some helping hands towards this vital cause. Hence, last Thursday, our marketing department took a trip to one of Ecologi’s many tree planting partners- Protect Earth. Protect Earth have several planting locations across England & Wales. On Thursday we visited their reforestation location in Hawling, Cheltenham. Their objective is to plant trees across the UK in efforts to remove carbon from our atmosphere, reduce flood risk and by doing all of this they will inevitably enhance our air quality. 

They were founded in 2020, an eye-opening year for us all, especially with regards to our climate crisis. They are a transparent registered charity and every penny donated to them goes towards the restoration of our planet. Protect Earth are solely UK based at present; however, they have ambitions to grow their charity internationally. 

What did we do?

So, our marketing team took it upon themselves to volunteer to muck in and actively help plant these trees themselves.  So, with their wellies on, and shovels to hand,  amongst larger group of  13 other volunteers, they planted 500 bare root saplings throughout the day! And these mere twig looking things will eventually flourish into abundant leafy beauties.

saplings

Tree planting process

  • With shovels in hand, our first job was to dig a deep hole. It had to be deep enough for the roots to be placed underground and covered with enough soil.
  • Next was to heel the soil around it into the ground so that the plant couldn’t be ripped up by animals.

planting

  • Then we had to use a mallet to place a stake into the ground next to the plant in order for it to grow straight, and again keep off predators.

 

  • Then we placed a guard over the top of the stake, which was secured by either zip ties or staples.
  • We then placed a small stick into the ground with the name of the tree. This is arguably the most important step as it allows Protect Earth to show to Ecologi the trees that they have planted.
  • Last but not least, we went round every tree once more and did some mulching. This is a layer of material placed over the soil. This would allow the tree to have the best chance of surviving. 

We are extremely excited to see how this scheme will benefit the environment. As of currently we have managed to plant 730 trees and reduce our carbon emissions by 52.98 tonnes. This will continue to rise in the future. With a goal to plant 10,000 trees in the next 5 years, we hope that our contribution makes a difference to the world we live in. If you would like the visit Ecologi’s website and see all the amazing work they do, then click here. Alternatively, you can visit our virtual woodland, or our WestWon Woodland page, which will give you more insight into what the scheme entails. 

Contact Us

If you would like any information on anything above, then please call us on 01494 611 456. We will be happy to provide any information on our green scheme (or tree planting trip). You can alternatively email us on [email protected].  

https://westwon.co.uk/wp-content/uploads/2022/01/Picture2-1-scaled.jpg 806 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-01-31 09:00:352022-02-01 16:08:15Our tree planting trip!

How does Super Deduction Tax work with leasing?

January 24, 2022/0 Comments/in Blog, Leasing Guides, News/by Jess Wells-Flint

How does the Super Tax Deduction work with leasing?

From the 1st April until 31st March 2023, companies investing in new plant and machinery assets are able to claim the 130% super tax deduction. For further information visit here.

We are used to speaking about the tax benefits of asset finance. However, these conversations have been taking in a new meaning since the announcement of the new super tax deduction.

In this article, we explore how does the super deduction work with finance?

Can I take out a finance agreement and still claim super deduction tax relief?

The simple answer is YES. From a tax planning perspective, a hire purchase agreement has the same tax allowances as if you are paying cash for an asset. This enables the qualified asset to take advantage of the 130% tax breaks.

Can you claim super deduction relief on a lease rental or hire agreement?

No, when leasing you do not have title of the equipment as it is a lease rental. As such you will not be able to claim the super deduction tax relief. However, you are able to offset all the rental payments against profits using the annual capital allowances to reduce your tax bill. For further information visit here.

What is the impact on investment in the UK?

The super deduction relief is expected to increase UK capital equipment investment by about 10% this year. Some of this investment will just be companies bringing forward investments from future years. However, at WestWon we have already seen a huge increase by clients looking to take advantage of this tax break.

Will the use of finance increase due to super deductions?

Yes. Financing in the UK is still the main way companies raise money to finance equipment purchases. It is expected that the use of finance will increase in 2022. There is also a high expectation companies will move from lease rental, to hire purchase agreements.

What is the situation regarding leasing and the financing of non-qualifying assets?

Certain asset types do not qualify for the Super Deduction tax scheme. An example is office fit outs. Some of this expenditure does qualify, however, where the asset is part of the fabric of the building, the tax position is very different.

For non-qualifying assets, there are still available tax breaks to companies wishing to use the option of either a lease rental or commercial loan. In addition, we can support you by splitting a project up to look to take out a lease purchase agreement on the qualifying assets and a business loan on the non-qualifying assets.

The super deduction – a boost in the arm for UK finance companies

Finance companies thrive on investment. The more companies look to invest in capital equipment, the more business a UK leasing company will do. We thank the Chancellor for the introduction of the enhanced tax breaks, it is a real boost for all UK finance companies.

Want to know what the saving looks like?

Use our super deductions calculator to give you a guide on the savings you can make.

Contact Us

If you would like more information on how we can support you and your business in regards to the super deduction scheme then head over to our contact page on our website to speak to a member of our team.

Furthermore, if you would like to contact us about any of your finance needs then please don’t hesitate to call us on 01494 611 456 or email [email protected].

https://westwon.co.uk/wp-content/uploads/2021/08/photo-1479920252409-6e3d8e8d4866-e1629372459665.jpg 543 845 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-01-24 09:00:352023-02-21 17:28:55How does Super Deduction Tax work with leasing?

Happy 2022 from all at WestWon!

January 10, 2022/0 Comments/in Blog, General/by Jess Wells-Flint

Happy New Year!

From all of us at WestWon we would like to wish everyone a very Happy New Year for 2022! We hope 2022 will be an amazing year for all. Here at WestWon we are getting ready to launch a number of new initiatives. These include business opportunities that we are extremely excited about. We must also take time to reflect on 2021 and appreciate that despite the setbacks, it was still an amazing year for so many, including WestWon. Just some of the exciting things we accomplished last year were:

  • The launch of our new green initiative, ‘WestWon Woodland’. Read more about this in it’s dedicated blog.
  • The introduction of new employees to the business, who you can read more about in it’s own dedicated blog.
  • The introduction of our new rewards scheme ‘WestWon Rewards’. You can read more and learn about our new scheme here.
  • The launch of our sister company, Scaffold Finance. You can visit their website here.
  • Our Dental Divisional Director Richard Porter’s win at the dental industry awards! Read more about his win and commendation here.
  • The new look and feel of the WestWon website, including two new pages, clients and family.

Things to look forward to at WestWon

Here at WestWon we are always looking to grow and develop. In light of this we are very excited of what’s to come and what 2022 has in store for us all.

Our normal hours have now resumed. This means we will be in the office from 9am-5:30pm every day to help you with your financing needs. We hope you all had a very merry Christmas and wish you all a Happy New Year. We cannot wait to see what’s in store and would like to thank everyone for their continued support throughout 2021 and into 2022.

Contact Us

If you would like more information on what we can offer you and your business then head over to our contact page on our website to speak to a member of our team. Furthermore, if you would like to contact us about any of your finance needs then please don’t hesitate to call us on 01494 611 456 or email [email protected]. Lastly, we hope that you all had a happy and healthy Christmas and new year, and Happy 2022 from all of us at WestWon once again.

https://westwon.co.uk/wp-content/uploads/2022/01/photo-1499233983070-99a5f004e720.jpg 980 1470 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-01-10 09:00:342022-01-05 15:30:41Happy 2022 from all at WestWon!

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The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited is a credit broker and not a lender. WestWon companies deals with a range of lenders. All WestWon companies hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Get in Touch page.
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