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Financing in the Current Climate

Mark Middleditch Partner and Charles Yorke Senior Associate in Allen & Overy LLP's tax department continue our series on financing in the current climate and look at asset finance
In a market where credit is hard to come by the advantages that asset finance can offer to the lender over unsecured lending such as accelerated tax depreciation and security over an asset may be enough to allow a corporate borrower to raise finance on more affordable terms. Having built up considerable leasing books by taking the benefit of these advantages banks may themselves then wish to raise liquidity from their existing lease portfolios — this article considers how this can be done and the UK tax issues which need to be considered. This article does not...

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