As the economy starts to pick up, more and more companies throughout Berkshire are increasingly investing in capital equipment with the help of flexible leasing solutions.
Berkshire itself is second only to Greater London in terms of output with a GVA of £30bn per annum. The region in the affluent Home Counties boasts some of the most innovative technology-driven businesses in global telecoms, software, pharmaceutical and new media sectors. For example, Berkshire is home to the UK headquarters of Fortune 500 companies such as Microsoft, Oracle and Verizon, along with leading businesses like Vodafone, Telefonica and Mars.
One of the centrepieces of the Chancellors budget in March, the increase and extension of the Annual Investment Allowance (AIA) is providing a welcome boost by delivering real tax savings for businesses. With the AIA doubled from £250,000 to £500,000 until the end of 2015, medium-sized businesses in Berkshire and across the UK are increasing or bringing forward their capital investments in plant and machinery to drive growth and stay at ahead of their competitors.
This is where leasing has an important role to play, by providing businesses with the opportunity to pay for these assets as they use them and keep vital lines of credit free. In terms of technology, IT equipment can become out of date in just three to four years. With a lease agreement, equipment can be added or upgraded without having to repurchase, so a business can always have the most cutting-edge hardware and software.
Many businesses find leasing advantageous from a budgeting standpoint as switching from outright purchase to a lease agreement changes how the equipment is accounted for. Leasing enables the equipment needed to be paid for over a fixed period of time, which helps spread the cost. Plus, with an operating lease, rental payments are an allowable business expense that can be set against profit – thereby potentially reducing your tax bill.
A wide range of equipment, from IT hardware and software to packaging machines and medical technology, can be leased. Other leasing options include general office equipment such as furniture and photocopiers. In fact, almost any type of tangible equipment can be considered for leasing.
Leading asset finance and leasing company, WestWon has been helping businesses of all sizes and sectors in towns in Berkshire such as Bracknell, Maidenhead, Newbury, Reading and Slough to drive their business forward by arranging flexible lease finance agreements to meet their needs. With an extensive network of over 600 leasing finance partners and suppliers throughout the county of Berkshire, including over 200 in Reading alone, the leasing company is able to provide each business with a tailored service and a dedicated account manager who possesses valuable local knowledge. We also offer specialist leasing and parental donation systems for tablets in the classroom appropriate for digital learning schemes being considered by almost 500 schools in County Berkshire.
For more advice on leasing and selecting a reputable leasing partner, download your free Essential Guide to Leasing for Business.
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