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VAT and Asset Finance

 
Eloise Walker Partner and Matthew Rowbotham Associate of the Tax Department of Pinsent Masons LLP look at the VAT implications of leasing assets
 
Assets can be financed in various ways but one of the most common methods is to enter into a leasing transaction with a financing or operating lessor. This article examines the main VAT implications of a typical equipment leasing deal where physical assets are let on hire to a third party lessee in business-to-business (often referred to as B2B) leasing. Business-to-consumer leasing is outside the scope of this discussion.
 
Along with many other industries which operate internationally equipment leasing will be affected by the 'VAT Package' which was agreed by EC finance ministers in February 2008. The package of reforms is being...
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