Compare features
We realise that every business is unique and that you need a range of products to suit specific requirements. We also know that keeping your business flexible in its operations requires products that are just as adaptable.

The table below lists some of the features and benefits for the various products provided by Northern Asset Finance. So whatever your requirements, why not contact your local business manager, who can help you tailor an asset finance solution that best suits your needs.







Contract
Hire

Customer claims capital allowances






Eventual ownership






No depreciation risk
(except for excess usage)






Off balance sheet






Interest allowable against tax






Rentals allowable against tax
(some restrictions for cars over £12k)






Working capital & cashflow benefits






Fixed or variable interest rate






Fixed term and repayments/rentals
(subject to change in VAT)






Service & maintenance required




+

+

No VAT on repayments






VAT on asset cost reclaimable
(some restrictions on cars)






VAT on rentals reclaimable
(50% restriction on cars with private use)






Standard (applies in most cases, but not under all circumstances)
+ Possible

Tax treatments are in accordance with current Statements of Accounting Practice. The VAT and other tax restrictions described apply to new cars, and some used cars. The restrictions do not apply to commercial vehicles and other assets.

Important information
Information on these Web pages is provided for guidance only, and is not intended as a substitute for professional advice. If in doubt, you should ask your accountant and solicitor to advise you on the implications for your business of any of the options shown above. Please note that these may vary depending on individual business circumstances.

Northern Bank and its subsidiary companies make no representations, or warrant that the information supplied on these pages is complete or accurate, and as such are not liable for any losses or costs incurred, whether direct or indirect, arising out of access to, or use of, these pages.

Northern Asset Finance Limited is a wholly owned subsidiary of Northern Bank Limited.