1. Can I claim any tax allowances?

   Only the owner can claim the appropriate tax writing down allowances and these are reflected in the rentals you pay. As a lessee, you should be able to offset your rentals against taxable profits, normally over the same period as your agreed depreciation policy. If in doubt, consult your auditors.

2. Can I claim the VAT charged on the rentals?

   Providing you are registered for VAT, you can normally claim the VAT payable on the rentals. (Special rules apply to company cars.)

3. Who is responsible for servicing and repair?

   Unless you have servicing and maintenance built into your agreement, you are responsible for maintaining the asset(s) in good condition. If you fit any replacement or additional parts to the asset(s), they become our property.

4. What if the asset(s) is/are lost, stolen, damaged or destroyed
   or become subject to a total loss claim during the period of the lease?

   You are responsible for the asset(s) and for any outstanding balance on the agreement. Comprehensive insurance, covering at least the full replacement cost of the asset(s), is therefore vital.

5. What happens at the end of the agreement?

   At the end of the agreement you have a choice:

   • - Either you can gain title to the equipment via a third party.

   • - Or you can continue to lease the asset(s) for a further period, paying a nominal annual rental. The further period normally lasts for the useful life of the asset(s

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