BH1 Accounting

Which is more suitable for your business: hire purchase or lease rental?

hire purchase tax

When you’re expanding your business, you often need new tools, equipment, or vehicles. This typically requires financing for purchasing or leasing these items. Understanding the difference between hire purchase (HP) and lease rental (LR) can be challenging due to confusing terminology and distinct tax and VAT treatments. This article clarifies the key distinctions between HP […]