Author: peac Admin

AUTUMN BUDGET 2023 – CAPITAL ALLOWANCE CHANGES

13th December 2023

This information is issued as of 23 November 2023. Please always check the HMRC website to ensure this information is still up-to-date.

From 1 April 2023 companies can claim 100% capital allowances on qualifying plant and machinery investments. More details can be found below and on the HMRC website.

Full Expensing (FE)
• This replaces the super-deduction which ends on 31 March 2023, and comes into effect from 1 April 2023. It is only eligible to companies and allows taxpayers to claim 100% of the cost of qualifying main pool expenditure from their profits.
• It allows companies to deduct the 100% cost against profits in the tax return for the financial period expenditure.
• It is claimable in respect of expenditure qualifying as main pool only.
• If a company is paying the new tax rate of 25% this will result in a saving of 25p for every £1 spent (or 19p for every £1 spent for companies with profits under £50,000).

The 50% first-year allowance (FYA)
• It is only eligible to companies in respect of qualifying expenditures classed as special rate assets. Taxpayers can deduct 50% of the cost from their profits before tax in the year of purchase.
• After the 50% deduction in the first year, the remaining 50% balance will then be written down as writing down allowances at the current annual rate of 6%.

Annual Investment Allowance (AIA)
• The Annual Investment Allowance (AIA) remains, providing 100% first year relief for plant and machinery investments up to £1 million. This is available for all businesses including unincorporated businesses and most partnerships.

PEAC Solutions does not give tax or accounting advice. You should seek your own independent professional advice before entering into a transaction or applying any particular accounting treatment to your business or assets.

PEAC SOLUTIONS RECEIVES INDUSTRY ACCOLADES AT LEASING LIFE CONFERENCE

13th November 2023

Hamburg, Germany, November 13, 2023 – PEAC Solutions, a multi-national asset finance platform, received the 2023 ‘Distribution Channel Management Champion” Award from Leasing Life, one of the top leasing industry journals in Europe, during the Leasing Life Conference & Awards in Budapest, Hungary. During the same event, PEAC Solutions CEO, Bill Stephenson, was inducted into the Leasing Life – Hall of Fame, in recognition of his many contributions to the leasing industry.

 

Delivering Added Value to Channel Partners

PEAC Solutions received the “Distribution Channel Management Champion” award for their engagement with business technology provider, Konica-Minolta Business Solutions UK. The award recognises an asset finance lessor who is providing best in class products and services that cover the entire value chain and support business growth.

 

The Leasing Life awards jury noted, “The ability to properly engage, integrate and support a distribution channel is a key success factor, particularly within OEM programs where sales are largely done through indirect channels. The jury considered a variety of elements, including online capabilities, integrated digital tools, valued-added products and marketing support programs, which have contributed to business growth and increased satisfaction for all parties. Within that context, the entry put forth by PEAC Solutions provided clear evidence and testimonials to merit their recognition for this award.”

 

Alexia Mann, Divisional Head of Sales, PEAC Solutions UK, accepted the award and commented on the company’s engagement with Konica-Minolta. “We are delighted to receive this award from Leasing Life, which not only recognises the value-added products and services of PEAC Solutions, but also our long-standing collaboration with Konica-Minolta and their many dealers and customers in the UK. This award is possible because they continue to place their trust and business with PEAC Solutions.”

 

Stephenson Inducted into Leasing Life Hall of Fame

PEAC Solutions CEO, Bill Stephenson, was honoured as the inaugural inductee to the Leasing Life – Hall of Fame, which recognised his many contributions to helping build and shape the international leasing industry. In delivering this award to Stephenson, the awards jury commented, “As the inaugural inductee to the Leasing Life Hall of Fame, we are celebrating an inspirational individual who has successfully steered companies, mentored numerous colleagues, many of whom are industry leaders today, and provided strategic leadership and vision to our industry for almost forty years.”

 

Stephenson was honoured by this recognition, sharing with the gathered audience, “It is a privilege to be the inaugural inductee into the Hall of Fame. I want to thank Leasing Life, but more importantly, I want to thank the many people who played a role in inspiring me over the course of my career. I have worked with several talented professionals who took the time to share their knowledge, provide guidance and make a real difference in my life. It has always been my personal goal to reciprocate that experience, giving back to our industry and to my colleagues and customers. This is an incredible journey that I look forward to continuing in the years ahead.”

WILLIAM NASRI JOINS PEAC SOLUTIONS AS GLOBAL HEAD OF MARKETING AND COMMUNICATIONS

13th July 2023

MOUNT LAUREL, NEW JERSEY – July 11, 2023 – PEAC Solutions (“PEAC”), a
multi-national asset finance platform, announced the appointment of William Nasri as
the Global Head of Marketing and Communications. In this capacity, he will be
responsible for the company’s brand strategy as well as the alignment and
optimisation of the company’s marketing and communication functions across
Europe, the United Kingdom, and the United States.

Nasri is an industry veteran with over 30 years of experience in leasing and global
vendor finance. Over the course of his career, he has worked in the United States,
Europe and Africa and held leadership positions in Program Management, Marketing,
Communications and Strategy. Most recently, he served as the Global Head of
Communications and Corporate Affairs for DLL, where he reported into the CEO and
worked closely with the Executive and Supervisory Boards of the company.

Bill Stephenson, CEO of PEAC Solutions, commented, “I am pleased to welcome
William to the global leadership team. He brings a wealth of knowledge and
experience that will greatly benefit PEAC as we continue to expand our capabilities
and bring new, innovative solutions to our customers.”

On his appointment, Nasri said, “I am excited to join the PEAC team. They have a
clear vision for the future and a laser focus on creating value for their vendor partners
and customers. I look forward to contributing to the company’s continued growth and
success.”

About PEAC Solutions: PEAC Solutions (“PEAC”) is a multi-national asset finance
platform, operating in 13 countries across Europe, the United Kingdom, and the
United States. PEAC provides innovative finance solutions to equipment
manufacturers, distributors, and dealers in a wide range of industries and asset
classes. The company specialises in originating and servicing leases and loans that
allow end-user customers more easily access equipment and technology. As of
December 2022, PEAC Solutions had over 800 full-time employees globally and a
portfolio of more than USD 5.0 billion.

 

Liz Weller

Marketing Manager

PEAC Solutions

liz.weller@peacsolutions.co.uk

SPRING BUDGET 2023 – CAPITAL ALLOWANCE CHANGES

5th May 2023

This information is issued as of 5 May 2023. Please always check the HMRC website to ensure this information is still up-to-date.

From April 2023 until the end of March 2026, companies can claim 100% capital allowances on qualifying plant and machinery investments. More details can be found below and on the HMRC website.

Full Expensing (FE)

  • This replaces the super-deduction which ends on 31 March 2023, and comes into effect for three years from 1 April 2023. It is only eligible to companies and allows taxpayers to claim 100% of the cost of qualifying main/general pool expenditure from their profits.
  • It allows companies to deduct the 100% cost against profits in the tax return for the financial period expenditure.
  • It is claimable in respect of expenditure qualifying as main/special rate pool only.
  • If a company is paying the new tax rate of 25% this will result in a saving of 25p for every £1 spent (or 19p for every £1 spent for companies with profits under £50,000).

The 50% first-year allowance (FYA)

  • It is only eligible to companies in respect of qualifying expenditures classed as special rate assets. Taxpayers can deduct 50% of the cost from their profits before tax in the year of purchase.
  • After the 50% deduction in the first year, the remaining 50% balance will then be written down as writing down allowances at the current annual rate of 6%.

Annual Investment Allowance (AIA)

  • The Annual Investment Allowance (AIA) remains, providing 100% first year relief for plant and machinery investments up to £1 million. This is available for all businesses including unincorporated businesses and most partnerships.

Disposals

  • If a company sells an asset on which it has claimed either full expensing or the 50% first-year allowance, there are special disposal rules which apply.
  • For the disposal of an asset on which a company has claimed full expensing, the company will be required to bring in an immediate balancing charge equal to 100% of the disposal value.
  • For the disposal of an asset on which a company has claimed the 50% first-year allowance, the company will be required to bring in a balancing charge equal to 50% of the disposal value. The remaining balance of 50% is treated in the normal way so is deducted from the special rate pool balance.

 

PEAC Solutions does not give tax or accounting advice. You should seek your own independent professional advice before entering into a transaction or applying any particular accounting treatment to your business or assets.

PEAC BUSINESS FINANCE HELP IETG LIMITED SECURE FUNDS FOR WATER QUALITY SONDES.

8th February 2022

PEAC Business Finance and Sales Account Manager, Abigail Coombs, have recently helped IETG Limited, an independently owned company that provide water quality monitoring and measurement services, secure funds for Water Quality Sondes. The new equipment allows IETG to support major water companies by identifying and monitoring the water quality in rivers, which is a regulatory requirement. The sondes will be installed at the sites of IETG’s customers and will measure multiple parameters to help water companies understand the performance of their assets. The sondes they have purchased monitor major water quality parameters, including: pH, ammonia, conductivity, temperature, turbidity and dissolved oxygen. This equipment is typically installed across a 52-week period to capture trends in the watercourse across different seasons.

To get in touch with the PEAC Business Finance team:

clientservices@peacfinance.com

www.peacsolutions.co.uk

THE UK’S FIRST LASER INDUCED SORTING MACHINE HAS BEEN FUNDED BY PEAC BUSINESS FINANCE.

18th January 2022

PEAC Business Finance have helped H Ripley and Company Limited acquire a Laser Induced Breakdown Spectroscopy Sensor Sorter to enhance their recycling capabilities.

H Ripley & Co are a family run business with sites in East Sussex, Kent and Newhaven Harbour, where they process recycling materials to be exported to steelworks and refineries worldwide. Whilst there are approximately six laser induced sorting machines currently operating in Europe, this is the first one of its kind to be installed in the UK.

To get in touch with the PEAC Business Finance team:

clientservices@peacfinance.com

www.peacsolutions.co.uk

 

OUR RELATIONSHIP WITH OYSTER.

11th January 2022

Oyster is a well-established and trusted independent provider of managed print, document and IT services which has been successfully operating since 1985. The business is well known across the Midlands and further afield from the reputation it has built over the last 30+ years of assisting clients with bespoke technology solutions. Richard Harris, Managing Director, acquired Oyster in 2019 with a fresh perspective and ambitious growth plans.

The PEAC and Oyster partnership began in January 2020 and is managed by Karen Davies, Vendor Sales Manager at PEAC who has over 18 years’ experience within the industry. Karen commented that “PEAC have been working with Oyster for a little under two years and it has been fantastic to get to know Richard and the team during this time. The relationship has had a brilliant start and we’re excited to see how this develops over the coming years.”

Oyster is embarking on a journey to become one of the most successful businesses within the Midlands and to provide added value and support for every customer they work with. Richard commented “Oyster want to be known as innovative and forward thinking with a flexible approach. Ultimately, we’re driven by the options we can take to our clients and with PEAC offering us more than one product, we have the flexibility to suit the businesses we work with and with the support of likeminded partners like PEAC we are able to work towards our goals.”

Alongside the office in Broseley, Oyster have recently opened their new headquarters and distribution centre in Cannock. When talking about the development, Richard explained that “everything we invest in and the partners we deal with are right for the business long term. The new premises and relationships we’ve built provide the foundations and send the right message to clients and partners demonstrating the experience that comes with working with Oyster. It has always been a quality business throughout and I want to maintain that look and feel by doing business in the right way.”

Karen concluded that “The new headquarters in Cannock and the way Richard has taken Oyster to the next level is really impressive. We see Richard and the team as strategic partners, and we’re delighted to continue the journey with an ambitious business like Oyster.”

To get in touch with the PEAC vendor team:

salesenquiries@peacfinance.com

www.peacsolutions.co.uk

To contact Oyster:

info@oystermps.co.uk

www.oystermps.co.uk

Explore
Home