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WestWon Donates Laptops to The Cloudy Foundation, Empowering Youth with Essential Digital Skills

September 2, 2024/in Blog, News/by Jess Wells-Flint

WestWon Limited is pleased to announce the donation of five laptops to The Cloudy Foundation, a Buckingham-based charity dedicated to empowering the next generation with essential IT and digital skills. This partnership underscores our commitment to bridging the digital divide and supporting youth education in the UK.

Supporting Digital Education in Buckingham

The Cloudy Foundation is at the forefront of preparing 12 to 18-year-olds for future careers in the digital world. With a mission to inspire and equip young people with the skills necessary for today’s and tomorrow’s workplaces, The Cloudy Foundation plays a crucial role in the Buckingham community and beyond.

The donated laptops will be integrated into The Cloudy Foundation’s innovative Skill Base Programme, which offers a unique blend of virtual and face-to-face training. This program focuses on developing not only IT skills but also essential soft skills such as teamwork, communication, and leadership. These are the competencies that employers in the digital sector highly value.

Bridging the Digital Divide

As the demand for digital skills continues to grow, it is imperative that all young people have access to the resources they need to succeed. The Cloudy Foundation’s work is vital in ensuring that students from diverse backgrounds can develop the skills required to thrive in a digital-first world.

WestWon’s laptop donation is a step towards closing the digital gap and ensuring that every young person has the opportunity to realise their potential. By supporting The Cloudy Foundation, we are investing in the future of our community and the digital economy.

A Commitment to Social Responsibility

WestWon is proud to partner with The Cloudy Foundation in its mission to support youth development and prepare them for the digital jobs of the future. We are confident that our contribution will make a meaningful difference in the lives of the students who benefit from it.

About WestWon

WestWon is a leading UK provider of asset finance solutions, helping businesses grow through tailored financing options. Our commitment to corporate social responsibility drives us to support initiatives like The Cloudy Foundation, which foster education, innovation, and the development of future digital talent.

We encourage our clients, partners, and the wider community to learn more about The Cloudy Foundation and explore ways to support their mission. Together, we can help prepare the next generation for a successful future in the digital world.

For more information on The Cloudy Foundation and how you can contribute, please visit www.cloudyfoundation.org.uk.

https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png 0 0 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2024-09-02 10:00:062024-08-27 16:57:44WestWon Donates Laptops to The Cloudy Foundation, Empowering Youth with Essential Digital Skills

WestWon Acquires Associated Commercial Finance Limited

June 10, 2024/in Acquisitions, Blog, News/by Jess Wells-Flint

WestWon Limited, a long established business in the asset finance and leasing industry, is pleased to announce the acquisition of the customer base and intellectual property in Associated Commercial Finance Ltd. (ACF)This represents our first acquisition of 2024 and 20th acquisition since we started trading.

Associated Commercial Finance is run by Simon Rose, a leasing industry veteran who has run ACF for the last 20 years. Prior to ACF, Simon worked at Lombard and Barclays.

Expanding Our Horizons

The integration of ACF into WestWon represents a significant step in our growth journey. Known for its bespoke financial services and strong client relationships, Associated Commercial Finance brings valuable expertise that complements our existing portfolio. This client base acquisition will enable us to provide an even wider range of tailored financial solutions, ensuring our clients benefit from enhanced offerings and expert advice.

Jeremy Hall, CEO of WestWon, expressed his excitement about the acquisition:

“We’re thrilled to welcome Associated Commercial Finance into the WestWon family. This acquisition is a perfect fit for our growth strategy, allowing us to add more value through innovative financial solutions and outstanding client service. Our friendly team will be reaching out to ACF’s customers soon to introduce themselves and to ensure a smooth transition.

Simon Rose has sadly been ill following an accident during the previous year and is no longer fit to continue running ACF. We wish Simon well in his recovery.”

What This Means for Our Clients

Our clients are at the heart of everything we do, and this acquisition is designed with their best interests in mind. Here’s what they can expect:

  • Expanded Product Range: Access to a broader selection of financial products and services tailored to meet diverse needs.
  • Enhanced Expertise: A combined team with deeper knowledge and experience, offering superior advisory services.
  • Wider Reach: An extended geographical presence, making our services accessible to a larger audience.

Looking Ahead

This acquisition is a testament to WestWon’s dedication to growth and excellence. We remain committed to innovation, aiming to set new benchmarks in the industry. Clients can expect a smooth transition and the same high standards of service that both WestWon and Associated Commercial Finance Ltd are renowned for.

For more information about WestWon Limited and our services, visit www.westwon.co.uk.

https://westwon.co.uk/wp-content/uploads/2023/12/cytonn-photography-vWchRczcQwM-unsplash-scaled.jpg 1001 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2024-06-10 12:03:182024-07-26 12:06:20WestWon Acquires Associated Commercial Finance Limited

WestWon Nominated for Sustainability Award at SME MK and Buckinghamshire Business Awards 2024

April 4, 2024/in Blog, News/by Jess Wells-Flint

We are thrilled to announce that WestWon has been nominated for the prestigious Sustainability Award at the SME MK and Buckinghamshire Business Awards 2024. This nomination is a testament to our unwavering commitment to sustainability and environmental stewardship in all aspects of our business operations.

The SME MK and Buckinghamshire Business Awards celebrate the outstanding achievements of small and medium-sized enterprises (SMEs) in the region, recognising excellence across various categories. Being nominated for the Sustainability Award is a great honour and reaffirms our dedication to making a positive impact on the environment while driving innovation and growth in our industry.

At WestWon, sustainability isn’t just a buzzword; it’s a core value that permeates everything we do. Since 1st January 2022 we’ve committed to planting a tree for every month a customer finances equipment through WestWon, with a target of planting 100,000 trees in 5 years. As of today’s date, we have planted 46,806 flourishing trees!

This nomination wouldn’t have been possible without the hard work and dedication of our talented team who continually strive to integrate sustainability into our business practices. A special thanks must go to our customers. Without their business and support over the past couple of years, these numbers would not be possible.

We would also like to extend our gratitude to the organisers of the SME MK and Buckinghamshire Business Awards for recognising the importance of sustainability and for providing a platform to showcase businesses that are making a difference.

The awards ceremony is scheduled to take place on 24th June 2024, and we eagerly anticipate the opportunity to celebrate alongside fellow nominees and fellow local businesses. Regardless of the outcome, being nominated for the Sustainability Award is a significant achievement and serves as a motivation to continue our sustainability journey.

We are proud of this nomination and remain committed to advancing sustainability in everything we do. Stay tuned for updates as we continue to strive for excellence in sustainability and make a positive impact on our planet.

Thank you for your ongoing support!

https://westwon.co.uk/wp-content/uploads/2022/06/shutterstock_1691489818-scaled.jpg 659 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2024-04-04 13:44:102024-04-04 13:53:44WestWon Nominated for Sustainability Award at SME MK and Buckinghamshire Business Awards 2024

Meet the Newest Members of the WestWon Team

December 15, 2023/0 Comments/in Blog, General, News/by Jess Wells-Flint

Read below to meet the newest members of the WestWon team…

At WestWon, we pride ourselves on being a dynamic and forward-thinking team. We are constantly striving to deliver the best possible service to our clients. In keeping with our commitment to excellence, we are delighted to introduce you to our latest team members. We are confident that their skills, experience and professionalism will help us to maintain our high standards here at WestWon.

Tom Walker – Corporate Account Manager

Introducing Tom Walker, our newly appointed Corporate Account Manager. Tom has recently stepped in as the temporary replacement for a colleague on maternity leave. With his principal responsibilities being the care and growth of our existing clientele in London, along with the extensive territories of East and West Midlands, and Wales. His role involves maintaining customer relationships, ensuring their needs are met, and addressing any issues or queries they might have.

Before joining us, Tom worked in a recruitment company, where he honed his skills in client management, communication, and negotiation. Tom’s keen insights, coupled with his commitment to client satisfaction, make him a valuable addition to our team.

Ryan Connor – Corporate Account Manager

We’re also pleased to introduce Ryan Connor, the latest addition to our team, also serving as a Corporate Account Manager. Ryan has taken on the role as maternity cover for a colleague who had been catering to our valued customers in the regions of East England, North East, North West, Yorkshire & Humber, Scotland, and Northern Ireland. He is charged with nurturing these client relationships, addressing their unique needs, and ensuring the smooth resolution of any concerns or challenges that may arise.

Ryan brings with him a wealth of experience, having spent eight years in sales. However five of these were dedicated to the role of an account manager. Therefore this tenure has equipped him with a robust skill set that includes customer relationship management, strategic negotiation, and in-depth product knowledge. With his expertise, dedication, and customer-centric approach, Ryan is undoubtedly a strong asset to our team.

Contact Us

At WestWon, we believe that our people are what make us stand out from the crowd. Each and every member of our team brings a unique set of skills and experiences to the table, and we are delighted to welcome our newest members to the fold. With Tom and Ryan on board, we are confident that we will continue to deliver a service that is second to none. Our team is expanding, but our commitment to building long-lasting relationships with our clients remains the same. Contact us today to see how our team can help your business achieve its goals.

https://westwon.co.uk/wp-content/uploads/2023/12/both-5.png 1092 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2023-12-15 09:00:502023-12-18 15:10:17Meet the Newest Members of the WestWon Team

WestWon wins Digital Champion Award at BNP Paribas Broker Conference

July 12, 2023/0 Comments/in Blog, News/by Jess Wells-Flint

Last Thursday WestWon were delighted to have been awarded the Digital Champion Award at BNP Paribas Annual Broker Conference. This year it was hosted at the fabulous Coombe Abbey Hotel in Coventry.

Attended by 45 different introducers across the construction, farm and LCV finance space, we were thrilled and surprised to win the award, the first for WestWon in 2023 following winning Outstanding Funder of the Year award at 2022’s Dental Industry awards and Net Zero Business of the Year at Buckinghamshire Business Awards 2022.

What is the Digital Champion Award?

The Digital Champion Award is awarded to the introducer utilising BNP’s Sales Aid portal for quoting and e-signature documentation. With a focus on conversion rates from credit approval, to e-signature documents all the way to pay out, we’re pleased to have been recognised for our use of the technology. Something that’s close to our hearts here at WestWon.

Speaking about the day and evening Divisional Director David Holley, who accepted the award, said “We’ve worked with BNP financing hard assets for a few years now and they’ve quickly become one of our most popular lenders. We’ve always been impressed with the personal customer service we’ve received from BNP. But to have a system like Sales Aid to compliment this helps us become more efficient and keep our customers happy. A great night was had by all and to win the award was an extra bonus.”

Talking about the award, WestWon CEO Jeremy Hall said “It’s great to win our first award of 2023. And to win an award from one of our lenders directly is even more special. A big thank you should go out to our operations team, who have direct contact with our lenders. This means getting credit approvals in place as well as raising and processing all finance paperwork for our customers. This award isn’t possible without their hard work. It’s great to see their efforts highlighted with this award.”

We would like to say a big thank you to BNP for the hospitality. Also a huge congratulations to the other winners and nominees. It was wonderful to meet so many new and familiar faces to talk all things asset finance.

Contact Us

For more information on WestWon and what makes us an award winning asset finance broker, please give us a call on 01494 611 456 or email us on [email protected].

https://westwon.co.uk/wp-content/uploads/2023/07/BNP-Award-scaled-e1690200243371.jpg 1125 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2023-07-12 12:11:512023-11-28 12:11:27WestWon wins Digital Champion Award at BNP Paribas Broker Conference

Syscap plc – through the eyes of their main competitor

May 18, 2022/0 Comments/in Blog, News/by Jess Wells-Flint

Syscap Limited (previously Syscap PLC) was a UK based leasing and asset finance company. Here our CEO, Jeremy Hall, talks about the history of Syscap, viewed through the eyes of their key adversary.

An introductory note from our CEO, Jeremy Hall

To point out, we are not connected to Syscap other than we operate in the same leasing and asset finance sector here in the UK.

The owners of Syscap built a highly successful and well recognised business that was later sold, then sold again twice more. Here, I reflect on Syscap’s journey from modest beginnings in Wimbledon to being owned by Hampshire Trust Bank, a major force in the UK asset finance lending space.

The Systems House UK Limited

Within three months of setting up Wyse Leasing, on the 19th of February 1990, a new IT leasing company was formed called The Systems House UK Limited. Almost immediately, Wyse Leasing and The Systems House became fierce competitors, both operating in the UK computer leasing sector.

The Systems House was incorporated by Sean Williams and Phillip Brook. Based out of South London, they used their leasing experience working for Lloyds Bowmaker and set about calling UK based IT dealers. It was not too long before they formed a sales team. A tough, aggressive company, they worked hard and built relationships. Wyse Leasing and The Systems House were competing head-to-head in accounts daily.

It was clear early on that Sean Williams was very clever and Philip Brook was good at building relationships. They recruited on a regular basis and as their team grew, so did their volume of business. In the early 1990’s the IT leasing sector was growing fast, companies were using leasing to finance equipment. It wasn’t too long until The Systems House became the UK’s largest computer leasing broker.

On the 1st May 1992, Parry Mitchell joined the board.  Parry Michell was made a life Peer in May 2000. The Right Honourable, The Lord Mitchell (Baron Mitchell) was instrumental in helping to build the company and then later to sell it to AnaCap Financial Partners in 2006.

Later in September 1992, Simon Brook (Philip Brook’s brother) completed Companies House documentation to change the status of the business from a limited company to a privately owned ‘PLC.’ The writing was clearly on the wall, The Systems House had big plans for growth.

Rebranding to Systems Capital PLC

However, all was not roses at The Systems House. With growth came issues. The Systems House, whilst a large well known computer leasing broker, had a bad reputation. Jeremy Hall noted, ‘When we talk about a bad reputation, you must respect Wyse Leasing was their major competitor. We would fight off the juicy bits of gossip from suppliers being annoyed with poor service, or end user clients who felt ripped off. We were not friends; I would say at this time we didn’t even respect each other. We wanted them to fail just as much as they did us.’

However, all was to change. They rebranded to Systems Capital PLC on the 1st of June 1998. Together with a new logo was the desire to improve their image.

Syscap name change 2004

Systems Capital PLC shortened their name on the 14th of October 2004 to Syscap PLC. A new logo and a great domain name, www.syscap.com.

Jeremy Hall noted, ‘This was pure genius. The name Syscap just rolls off the tongue and as the internet was gaining massive momentum, they had a great domain name.’

Syscap was growing. They now had large offices, 100 plus staff and fantastic contracts with the likes of Sage. Syscap called themselves the UK’s number one IT leasing company. Speaking as their major competitor at the time, I would have to agree.

The business moved into the education sector and bought a company focused on professions loans and lending. They were not moving away from their core IT leasing business, just shifting into new sectors.

The business still had a reputation of being very tough. Many people came and went from Syscap, a number of these people setting up as their competition. Many of the UK’s long established leasing brokers cut their teeth at Syscap.

Philip Brook, one of the founding partners, left the company and set up Capex Limited in January 2003. Some people say ‘Capex’ stands for ex-Systems Capital. Others say it’s just short for capital expenditure. Either way, Philip took what he learnt from the Systems Capital branding and came up with another amazing brand. He owned the domain name www.capex.co.uk. Many years later, Philip Brook sold the business of Capex to us here at WestWon, and we still own the domain name www.capex.co.uk.

‘One day we will use the Capex brand. It’s simple, easy to say and most people already associate it with finance’ explained Jeremy Hall.

2006 sale to AnaCap Financial Partners

Lord Mitchell and Sean Williams (plus others) then pulled off their biggest deal to date. Syscap was sold to AnaCap Financial Partners for a deal worth north of £30m. We do not know the exact amount the business was sold for; however, some people say it was around the £36m mark.

Philip White, the newly appointed CEO was to head up the £135m leasing business with over 120 people based out of New Malden and Northwich.

2015 AnaCap sells Syscap to Wesleyan

Roll forward to 2015 and Syscap Holdings is sold again, this time to a UK bank called Wesleyan. What’s interesting is the company is described as an £8m turnover company, with 70 staff focusing on short term loans. Philip White, who has not been with the business for 22 years remained as CEO.

Why AnaCap sold the company, the question remains. Why did they take a loss on their investment? It’s not something we believe we are qualified to answer. Likewise, why did the company lose many of their team in the previous nine years. However, what we do know is that Wesleyan were keen on the professions funding / short term loan element of the Syscap business.

2018 – the end of the Syscap brand

February 2018 witnessed the end of an era. Wesleyan decided to drop the Syscap brand and trade under their name. It made commercial sense for Wesleyan, but it must have been tough for the Syscap team to lose their brand that’s been around since 2004.

Later in September 2018, after 25 years of service, Philip White leaves the company to form his own business. Jeremy Hall commented, ‘Wyse Leasing and Syscap used to clash, we battled it out over the years. However, I have complete respect for Philip White and his team. He was at the forefront of building a great business.’

2020 – Sean Williams, the Founder of Syscap passes away

Very sadly, Sean was diagnosed with cancer in 2017 and spent the next four years fighting the disease. He was 55 years old when he passed away in 2020.

Jeremy was keen to add, ‘I didn’t know Sean very well personally, we did meet up a few times over the years. I remember him coming over to my house, a big character driving a big car. He could have so easily given it the “I am so great chat.” He didn’t, he played down his success and came over as a real gentleman.’

Is Syscap out of business?

No, Syscap have never gone out of business. However, from 2018, the Syscap brand vanished in the UK. The Syscap offices in New Maldon and Northwich are still there, habited by some of the longer serving employees of Syscap, plus new recruits at Wesleyan.

With the website taken down, the brand has all but gone. However, ICT suppliers and customers still refer to the company, even now.

The business maintained its focus on the education, medical, professions and general leasing sector. Short term loans were / are a major part of the business, as is residual value leasing arrangements in schools.

On the 28th of February 2022, the final chapter was complete when Hampshire Trust Bank PLC bought Wesleyan Bank. This included all the historic operating business of Syscap. What will happen next, we do not know.

Syscap employees help shape the UK leasing and asset finance sector

Before we end this document on the history of Syscap – looking at the business through the eyes of a competitor – we should note how the company has helped shape the UK leasing sector.

There are two key elements to this. Firstly, Syscap helped put UK leasing and asset finance brokers on the map. Historically, many of the UK leasing lenders / banks sold their services directly to the end user or dealers. There were not many brokers around and they did certainly not make up much of the business that was written. Today, leasing brokers such as WestWon act as the outsourced sales arms to many leasing companies.

Secondly, Syscap was an incredible training ground for people in the leasing sector. So many of their staff have gone on to set up their own leasing brokers. Many more are in senior positions working for large organisations.

So, as we close the most recent chapter, it will be interesting to see over the next ten years where the story goes. This also refers to all senior people in our industry who gained their leasing education and training at Syscap.

Contact Us

If you would like more information on this or any finance needs, please get in touch. You can either call us on 01494 611 456, or email us on [email protected].

https://westwon.co.uk/wp-content/uploads/2022/06/shutterstock_1576534642-scaled.jpg 998 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-05-18 09:00:502022-05-18 13:48:27Syscap plc – through the eyes of their main competitor

Syscap contact details

May 18, 2022/0 Comments/in Blog, News/by Jess Wells-Flint

If you are trying to contact Syscap and cannot find their details, maybe we can help you.

Syscap was acquired by Wesleyan Bank and on the 1st April 2016, all customers were directed to this business. However, on the 28th February 2022, Wesleyan Bank Limited was then acquired by Hampshire Trust Bank plc. This has meant finding the correct department and person to speak to a challenging task.

Advice on a Syscap lease agreement

We are not Syscap and we do not represent them. However, we can give you some free impartial independent advice on your existing Syscap lease agreement. If you would like this, then please give us a call.

Looking for help with your Syscap lease or loan agreement

If you are looking for some help on leasing in general, you have a lease agreement with Syscap, or are a supplier who used to work with Syscap, then also feel free to call us. We can give you free impartial advice.

Syscap customer services telephone number

If you need to speak to someone about your existing Syscap lease agreement, their customer service number is 0208 254 1923. You can also find their details here.

Syscap Customer Support

Syscap still maintains a customer support team. There is no way to be certain if there is still a team based at the old Wesleyan offices in New Maldon. Their customer service department may have moved to Hampshire Trust’s London offices at 55 Bishopsgate, London. EC2N 3AS. They do provide another telephone number, which is 0800 358 1122.

Syscap Wimbledon telephone number

Syscap’s old offices in Wimbledon have been shut down for a few years now. We can give you the telephone number for Wesleyan Bank (asset finance and business loans division only), which is 0208 254 1923.

Syscap portal login

Syscap used to have a portal for their suppliers. This is no longer in use.

Are Syscap still writing leasing business?

Syscap are not writing new business as the company is now dormant. However, Wesleyan Bank / Hampshire Trust Bank are still taking on new business and own the Syscap brand and customer base.

Syscap websites

If you have tried to contact Syscap via their old website, www.syscap.com, you won’t have much luck as the site is no longer live. Likewise, www.syscap.co.uk is no longer live, it automatically directs you to the .com address.

Interestingly, the new owners of Syscap have not transferred these domain names to Wesleyan Bank or Hampshire Trust.

I am a customer of Syscap, are they open for new business?

A few of the old Syscap sales employees are still employed by what was Wesleyan Bank. They are still working with a number of medical, professions and education customers. However, since 1990, Syscap has worked with thousands of UK end user customers and suppliers who will have not been contacted. If you were a customer or supplier of Syscap and are looking for leasing, please contact us on 01494 611 456. Alternatively, feel free to email us on [email protected].

 

Please note, we are not associated to either Syscap or Wesleyan Bank. WestWon are an independent leasing company. We are always happy to help UK companies with advice when it comes to leasing or business loans. Any advice we offer to you is completely free.

https://westwon.co.uk/wp-content/uploads/2022/05/shutterstock_1389188051-scaled.jpg 1000 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-05-18 09:00:282022-05-18 13:48:36Syscap contact details

WestWon Leasemaster’s transition to Technology Leasing!

February 21, 2022/0 Comments/in Blog, General, News/by Jess Wells-Flint

WestWon are proud to announce the transition of WestWon Leasemaster into Technology Leasing! The two companies have joined forces to become one. This is such an exciting opportunity for both companies, and we are very happy for all members of the team. This will combine a worthy range of benefits such as their teams and their client bases. Along with this alliance, they have redesigned their look by introducing a new logo, colour scheme, and overall look and feel of the website. This new website can be found here. This new alliance will be an extremely exciting thing for all those involved.

Background of WestWon Leasemaster and Technology Leasing

WestWon Leasemaster has been under the leadership of Steve Holdstock and his team since 2016. Since then, they have managed to grow their relationships with clients to be bigger than it ever has been. Steve himself has over 30 years experience in sales and leasing. As well as this, he has an expert base of knowledge that allows him to work so well with clients. Through these years of experience, he has been able to provide expert advice in all sectors of leasing whenever needed.

Technology Leasing has been around since 1989 when Brian Burns founded the business. In 2020, Brian officially retired from the company and passed over the reins to Kevin Green. Kevin has successfully guided Technology Leasing through the last 2 years. This is due to him working for most of his life in the leasing and finance sector. He previously worked for a number of large companies such as GE Capital, Apple Financial Services and Dell Financial Services.

In combining these two well respected and highly knowledgeable key people, along with a highly experienced and professional team behind them, we know that Technology Leasing will become a strong contender in the leasing sector.

Steve Holdstock, now the Managing Director of Technology Leasing says “Our name now reflects where our market is and what we can offer to that market. This is a simple yet exciting step forward which opens up a future for the company that we have not seen before. I am thrilled to be working alongside Kevin and our team, and cannot wait for Technology Leasing to grow into a formidable player in the sector.”

WestWon’s involvement

Our relationship with WestWon Leasemaster still remains extremely strong, and where we need to collaborate with them we will. We wish them all the best luck, and cannot wait to see what they achieve in the future.

Contact Us

If you would like to find out more about this transition for WestWon Leasemaster into Technology Leasing then feel free to visit their new website. If you would like any information on what financial services we can offer you here at WestWon then please call us on 01494 611 456. Alternatively you can email us on [email protected].

https://westwon.co.uk/wp-content/uploads/2022/01/tech-leasing-logo-large-1.png 750 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-02-21 09:00:172022-04-08 09:22:55WestWon Leasemaster’s transition to Technology Leasing!

WestWon Furniture becomes Fit Out Finance!

February 1, 2022/0 Comments/in Blog, News, Office Furniture & Fit Out Leasing, Press Release/by Jess Wells-Flint

WestWon are proud to announce that WestWon’s Furniture division has become Fit Out Finance!

Fit Out Finance is a new UK based business focusing solely on fit outs within the leasing sector. As the furniture and fit out sector is such a large part of leasing, we thought it was only right for there to be a separate division and company in order to give our undivided attention to the amount of business there is.

Introducing Fit Out Finance

Fit Out Finance is one of the first leasing and finance companies in the UK focusing purely on the fitout sector.

Having extensive knowledge in the sector and combining that with the friendly and professional team. We are confident that they will provide an excellent service for you and your business.

Their main focus is in the office refurbishments sector. However, they also provide finance for any business in the restaurant, warehouse and retail sector. Nonetheless, with their broad knowledge, they can provide finance for most businesses in a range of different sectors. Here at Fit Out Finance, we can help you finance your fit out project from a seeding idea all the way through to successful completion and handover.

How are we related?

Fit Out Finance is a trading name of WestWon Limited. We know this will be a positive change and we are excited to expand further into the furniture and fit out sector under the name Fit Out Finance!

The sales team

One of the business development managers, Tracey, has worked in the asset finance and leasing sector for more than a decade. She is a specialist in the sector and joined WestWon in 2016. Since then,  she has dealt with a number of reputable UK fit out companies as well as hundreds of businesses financing their furniture and fit out projects.

On the other hand, business development manager Freya is fairly new to the industry. She joined WestWon in 2021 before moving over to Fit Out Finance at the start of this year. However, despite being new to the industry, she has already built strong relationships with many UK fit out companies. And we can assure you that she would be happy to help you with whatever business project you may need support with.

Why fix on Fit Out Finance?

Here is just a handful of the perks:

  • Fit Out Finance can give you a decision within 24 hours.
  • Industry leading rates starting from 2.5%.
  • With a 95% acceptance rate, they are more likely to take you in under their wing even if others have refused you.
  • They will deliver your fit out requirement with a 5* customer service.
  • They will administer you with a dedicated account manager, who will be able to provide you with a fast, professional and excellent service.

What does this mean for existing furniture and fit out customers of ours?

Most of you will probably be more familiar with WestWon. And don’t worry, with the launch of Fit Out Finance we will continue to provide you with a matched high level of professional and outstanding customer service. The only difference being our brand is now tailored to your furniture and fit out needs. In sum, besides the rebranding, there is no decisive change that will impact your relationship with us. We know this will be a positive change and we cannot wait to expand further into the furniture and fit out sector under Fit Out Finance!

Take me to the website!
https://westwon.co.uk/wp-content/uploads/2022/02/office-interior-2-scaled.jpg 1000 1500 Jess Wells-Flint https://westwon.co.uk/wp-content/uploads/2016/06/WestWon-Colour-300x94.png Jess Wells-Flint2022-02-01 09:00:142022-01-13 10:39:25WestWon Furniture becomes Fit Out Finance!

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?
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