Products & Services

Hospitality Businesses Can Use Finance to Access New Tax Incentives

The UK Government recently launched ‘Full Capital Expensing’; a new tax incentive designed to encourage business investment. This Capital Allowance enables hospitality firms to fully write-off the cost of qualifying purchases in the same year the asset was purchased. This equates to a saving of 19% or 25% of the asset’s purchase price (depending on your tax rate). The allowance can be claimed on a wide range of equipment by incorporated businesses, with the Annual Investment Allowance accessible under similar rules by unincorporated businesses.

This means you can get that new equipment, refurbish your premises, install an alarm or air-con at a significant effective discount.

For businesses who prefer to spread the cost of their equipment or project, using either a business loan or a hire purchase agreement allows the full expensing allowance to be claimed.

Portman Asset Finance is both a lender and a broker, able to provide both hire purchase agreements and business loans, methods that allow capital allowances to be claimed. We have been helping pubs, restaurants and hotels spread the cost of new equipment, fund refurbishments and cover unexpected operational costs since 2007.

Portman also provide finance leasing, short term and flexible loans as well as tax loans and equipment refinance, helping hospitality businesses to boost cashflow or capture opportunities in today’s challenging environment.

If you’re looking to fund new equipment, refurbish your premises or boost cashflow, talk to the experts at Portman.
Call: 01604 669343