Business Banking

With the use of Tax Based Leasing, customers are able to use plant, equipment or vehicles without having to own them. In effect, these can be rented initially over a 2-5 year term.

What is it?

Tax Based Leasing is a long-term hire arrangement between the customer and the Credit Provider. The customer pays rental for the use of the equipment and at the end of the hire period the goods can either be retained for an extended secondary period or alternatively, disposed of. Companies can benefit from a proportion of the sale proceeds upon disposal. This is particularly suited to longer-term transactions for large items of machinery linked over 5-7 years.

Benefits

Rentals are normally lower than Hire Purchase instalments as they reflect the effect of the Bank claiming ownership allowances
Customers can benefit from sale proceeds

Tax Based Leasing Products offered through Bank of Ireland UK are provided by NIIB Limited, which is another Bank of Ireland Group company. Bank of Ireland UK acts as the credit intermediary for these products.

Bank of Ireland UK Asset Fianance is provided by NIIB Limited, which are also part of Bank of Ireland Group

To apply, or for more information, send us an email or contact your local business team

Please read our Guide to Banking for Business Customers - 148KB PDF Document.

Bank of Ireland

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