Over the years we’ve become known for our expertise in niche financing, or ‘quirky kit finance’ as we like to call it. One such area is the catering and hospitality world and the recent addition of Dave Gadsden to the Johnson Reed team has greatly strengthened this offering.
He believes that catering sector leasing is crying out to be exploited more and he aims to increase awareness by developing the Johnson Reed service and enthusing young entrepreneurs entering into the market. But why is it so potentially beneficial?
Catering finance has established a reputation for finding the right kit for your establishment, however obscure. It might be ovens, fridges, range cookers or furniture. It might be needed for restaurants, cafes, bars or hotels. In every case we offer common sense lending for a multitude of owner-managed businesses. And we have an open door policy with easy access to finance, unlike most banks that are still proving difficult to deal with, in spite of government encouragement to loosen up their attitudes to borrowing requests.
If we could sum up the benefits of leasing finance in just two words, it has to be tax advantages. A lease is the most tax efficient way to fund your new purchase. VAT is paid on each rental and therefore spread throughout the period, and often little or no deposit is required. Title of goods is retained by the lessor throughout the term, which allows payments to be shown as an operating cost, giving greater tax advantages over outright purchase. All the perfect ingredients to make it worth putting Johnson Reed high on your shopping list for your next catering venture.
