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Commercial Fitness Equipment - Leasing |
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Commercial Fitness Equipment
Leasing
More than half our clients choose to finance their gyms via leasing. The length of a lease can vary – most choose three or five years.
The benefits of leasing include:
• 100% tax efficient – all leasing payments are 100% tax allowable. Each payment made on a lease agreement can be used to reduce your Corporate Tax bill.
• Improve cashflow – leasing can be arranged with no deposit – retaining a company’s cash for other purchases or working capital.
• At the end of the period the lease company can offer the customer ownership of the equipment for a small one off payment.
• Unsecured borrowing – the equipment being leased is generally the only security necessary. Occasionally we do need Directors Guarantees for some Limited Companies.
• Fixed rate payments – all payments are fixed for the period of the lease and are only affected by changes in VAT and Capital Allowances.
• We can only arrange leasing for UK registered companies.
Typical example
A school leasing a £19,995 platinum gym package on a three year lease can expect to pay £675 pcm over five years or £450 over three years. Why not call us for a no obligation leasing quotation?
Gym tax implications
Whether you lease or buy a staff gym the tax implications are:
At the personal level:
• Providing a subsidised (or free) gym membership to allow employees to use a nearby gym amounts to a benefit in kind, and is subject to tax as a perk.
• Providing an in-house gym is not subject to tax as a perk. The facility must be available to all ie not just for directors and be free to use.
At the company level:
• If a company purchases a gym, they receive a capital allowance on the equipment – allowing them to write off 25% of the capital value each year.
• If a company leases a gym, they can expense the lease payments.
More information
- Gym Planning
- Custom Gym Design
- Gym Packages
- Bespoke Solutions
- Preventative Maintenance
- Equipment Repairs
- Gym Flooring
- Audio Visual
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