Blog

Harewood Asset Finance enhances its TGI Golf Finance offerings

We are delighted to announce the launch of our latest partner benefit through TGI Golf Finance. Not only can TGI Golf Finance help your business, but with the expanding range of products they offer they can look after your mortgages as well. Whether it be a mortgage renewal on an existing property, or a relocation mortgage due to a change in jobs they can assist.

Through the mortgage facility they can offer the following:

Existing Mortgage Reviews
Mortgage Renewals
First Time Buyers
Relocations
New Mortgage Applications
Buy to Let Mortgages
Holiday Lets
Main Residences
House of Multiple Occupancy

Through this relationship they can:

Offer Preferential Rates and Fees
Provide Whole of Market Access
Create Bespoke Financial Solutions

One of the key services is being able to review the whole market to find the best deal for you, the partner. We can save you money, interest and could reduce term on your existing finance package. Furthermore, this facility is also open to all Partners friends and family.

Are you a PGA Golf Professional and interested to find out more about how the TGI Golf Partnership can benefit your business?

Harewood Asset Finance trading as TGI Golf Finance will introduce you to strategic Partners Strathon Park Financial Ltd (company number 09289532) who are authorised by the Financial Conduct Authority (ref: 658002).

1st November 2018

Autumn Budget 2018 Summary

Autumn Budget - The Key Points

Personal tax

Personal Allowance and higher rate threshold– The PA and HRT will rise to £12,500 and £50,000 respectively from April 2019, one year earlier than planned. Both will remain at the same level in 2020-21 and then the PA will increase by CPI (there is no corresponding commitment in relation to the HRT).
Off-payroll working in the private sector– In line with public-sector bodies and agencies, the IR35 extension rules will be applied in the private sector from April 2020. Responsibility for operating the charge will move from individuals to the organisation, agency or other third party engaging the worker, though small organisations will be exempt.

Property tax

Capital gains tax and private residence relief– The final period exemption will be reduced from 18 months to 9 months (with some restrictions on relief where a property is let).
Business rates– Bills will be cut by one-third for retail properties with a rateable value below £51,000 for 2 years from April 2019 (until the next rate revaluation).

Business tax

Digital services tax (DST)– From April 2020, a new 2% tax will apply to the revenues of certain digital businesses to reflect the value they derive from the participation of UK users, pending an appropriate international solution. The government will consult on the detailed design of the DST and legislate in the Finance Act 2020. The tax will apply to annual ‘UK’ revenues above £25m from activities relating to search engines, social media platforms and online marketplaces (of businesses with in-scope annual global revenues of more than £500m). Loss-makers will be exempt and businesses with very low profit margins will be subject to a reduced effective rate.
Annual Investment Allowance (AIA)– The amount of qualifying investment in plant and machinery made on or after 1 January 2019 until 31 December 2020 will go up from £200,000 to £1m.
Capital allowances– The capital allowances special rate for qualifying plant and machinery assets will be reduced from 8% to 6% (from 6 April 2019) while a new 2% non-residential structures and buildings allowance (SBA) is available where contracts for physical construction works are entered into on or after 29 October 2018.
Corporate capital loss restriction– From 1 April 2020, the proportion of annual capital gains over a £5m allowance that can be relieved by brought-forward capital losses will be limited to 50%.
Intangible fixed assets– There will be relief for the cost of goodwill in acquiring businesses with eligible intellectual property from April 2019. The de-grouping charge rules which apply when a group sells a company that owns intangibles, will be reformed from 7 November 2018 to align them with the equivalent rules applying to capital gains. The tax on income from intangible property held in low-tax jurisdictions to the extent referable to UK sales will apply from April 2019, as previously announced, with some changes.
Employment Allowance– Only employers with an employer National Insurance contributions (NICs) bill below £100,000 in their previous tax year will be eligible for EA, which provides businesses and charities with up to £3,000 relief, from April 2020.
Entrepreneurs’ Relief– For disposals from 6 April 2019 the minimum period throughout which the qualifying conditions for relief must be met will be extended from 12 months to 24 months. In addition to the current requirements on share capital and voting rights, for disposals from 29 October 2018 shareholders must also be entitled to at least 5% of the distributable profits and net assets of a company to claim the relief.

Indirect taxes

VAT registration threshold– The current level of £85,000 will remain for a further two years until April 2022. The government will look again at the possibility of introducing a smoothing mechanism to avoid the ‘cliff-edge effect’ for small businesses once the terms of EU exit are clear.
Duties– Fuel duty will be frozen for a ninth successive year. Duty rates on beer, most cider and spirits will also be frozen, though duty on wine will increase in line with the RPI. Duty rates on all tobacco products will increase by two percentage points above RPI inflation until the end of this Parliament.

Avoidance and evasion provisions

Profit fragmentation– Legislation to prevent UK businesses from avoiding UK tax by arranging for their UK-taxable business profits to accrue to entities resident in territories where significantly lower tax is paid than in the UK will be introduced, as previously announced. The taxable UK profits will be increased to the actual, commercial level.
Insolvency– Taxes collected and held by businesses on behalf of other taxpayers (VAT, PAYE Income Tax, employee NICs, and Construction Industry Scheme deductions) will get preferential treatment on insolvency from 6 April 2020 (the rules will remain unchanged for taxes owed by businesses themselves, such as Corporation Tax and employer NICs). Further, directors and other persons involved in tax avoidance, evasion or phoenixism will be jointly and severally liable for company tax liabilities, where there is a risk that the company may deliberately enter insolvency.

*summary provided by Leona Ramsey – PWC Tax Senior Associate

What Does This Mean for Harewood Clients?

The biggest part of the budget which applies to our clients has to be the increase of AIA (Annual Investment Allowance) from £200,000 per annum to £1,000,000 per annum. This increase will start on the 1st January 2019 and run for 24 months.

Now may be the right time to look at replacing any of that aging machinery or plant assets you may have. There may be no better time to make it as cost effective. To look at the options in more depth do not hesitate to to get in touch.

1st November 2018

BMW X3 M Sport Offer

BMW X3 20d M Sport Auto - from £319 + VAT

We have a fantastic offer available on the ever popular BMW X3, vored as one of the best small SUV’s on the market the X3 never fails to deliver on performance and style.

Our offer includes:

M Sport Styling
Metallic or Solid Paint (choice of colours available)
Exterior Mirror Pack – electrically folding with anti – dazzle
High gloss dark oak wood interior trim & pearl chrome finish
Sun Protection Glass

All this for a monthly rental starting from £319.99 + VAT per month. Other profiles and schedules are available on request as in Personal Contract Hire.

Initial rental of £1919.94 +VAT followed by 48 monthly payments of £319.99 + VAT. Based on 10,000 miles per annum on a business contract hire agreement. Personal contract hire availiable on request. VAT is applicable customer maintained, funder maintained quotes available on request. Harewood Asset finance LLP is an independent commercial finance brokerage and not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements. We are not independent finance advisors and so are unable to provide you with independent financial advice. Harewood Asset Finance LLP is an appointed Representitive of AFS Compliance Ltd, which is Authorized and Regulated by the Financial Conduct Authority, firm number 6215035. Harwood Asset Finance LLP is a franchisee of Asset Finance Solutions (UK) Ltd. Figures correct as of 01/11/18

15th October 2018

Let’s go Racing!

Harewood Asset Finance Sponsor Joanna Mason

We are over the moon to announce that earlier this year we agreed to be the main sponsor of ladies amateur jockey Joanna Mason. Joanna is from fine racing stock, being the Granddaughter of North Yorkshire trainer Mick Easterby, so it was natural she was always going to become a top jockey.

Joanna’s early career saw her have great success riding point to point with over 50 winners. An unfortunate accident and a broken back meant a change in direction to the somewhat safer flat circuit. Since then she hasn’t looked back:

Ladies Amateur Flat Champion 2015
Ladies Amateur Flat Champion 2017
Ladies Amateur Flat Runner Up 2016

Joanna is aiming to be at the top of the Championship in 2018, as she continues to build on the success of the past 3 years. We are delighted to be associated with Joanna for this season and I am sure you will all join us in wishing her the best of luck. If you see her up and down the country be sure to give her a big Harewood Asset Finance cheer.

Joanna will be wearing Harewood Asset Finance breeches and neck embroidered top this season to promote the Harewood Equine arm of the business. If you are interested to find out about how we can help your equine business then do not hesitate to get in touch.

3rd October 2018

Harewood Partner Up with Alfa Power

Harewood Asset Finance are delighted to announce that they have partnered up with Alfa Power, a Leeds based company that is instrumental in driving the development of the UKs network of Electric Vehicle Charging points. Alfa Power’s independently connected EVCs are powered by renewable energy and located in environments where there is a genuine business case.

Whether it be at your place of work, your local golf club or even at home Alfa Power have a number of different solutions to enable you to be at the forefront of EV Charging technology. You can even generate revenue by having these installed on site.

Want to know more details? Click on the link below to see the presentation or contact us direct on 01937 222123 or email sales@harewoodaf.co.uk

2nd August 2018

Tadcaster Albion Sponsorship Deal Announced

Done Deal!

By HAREWOOD ASSET FINANCE

We are delighted to announce that we have agreed a deal to sponsor Tadcaster Albions Harry Coates for the 2018/19 season. Described on Twitter by @HodgesAllan as ‘the next Harry Mcguire’ we are excited to see how ‘our’ Harry progresses this season. A York City Academy product, whose previous teams include Bradford Park Avenue and Hyde United and at only 22 years of age he certainly has plenty of time to make his name in the game. We are delighted to be able to support his development this season.

The sponsorship deal also means that Harewood Asset Finance will feature in the Match day programme along with match ball sponsorship. For more information on Tadcaster Albion FC please visit their website.

This sponsorship deal, along with our continued support of Harrogate Town FC enhances our commitment to help and support the local teams as they grow along with us.

Spread the word

16th July 2018

TV’s hot product Zen Green Stage is now more affordable

SHEFFIELD, UK – – Interest in the British-made Zen Green Stage adjustable putting and full swing platform (www.zenoracle.com) has soared since the product made its TV debut on Sky Sports at The Open Championship in 2017, and its subsequent high profile during Sky’s ongoing golf coverage including the 2018 Masters, Players and US Open tournaments.

Now, with the ‘Zen Green’ set to literally take centre stage once again in the Sky Sports Open Zone at Carnoustie for the 147^th Open Championship, Zen has announced a new finance package which makes owning one much more affordable.

Sky Sports Open Golf Zone, Royal Birkdale.
18th July 2017.
Photographer: Mark Robinson.

Harewood Asset Finance, in partnership with Zen, can now offer golf academies, teaching professionals and other Green Stage buyers the option to pay monthly, spreading the cost of purchase and improving cash flow for their business.

Tour putting coach Phil Kenyon, who teaches on a Zen Green Stage at his Harold Swash School of Putting studio at Formby Hall Golf Resort Hotel & Luxury Spa in Southport, said: “For many coaches the Zen Green Stage will be the final piece of the jigsaw at their golf academy: it opens up new creative possibilities for both putting and full swing coaching. It is a great product, but raising the capital to buy one can deter some people. I can see the new finance option being very popular.”

Nick Middleton, the product’s creator, said: “If you are a golf coach, you can now start making money from the Zen Green Stage well before you have paid for it completely. This opens up the prospect of Green Stage ownership to a much wider audience.”

On the phenomenal awareness being generated by the product’s appearances on Sky Sports, Middleton said: “The buzz about the Zen Green this season has been amazing, and is growing week by week. PGA professionals and other golf coaches can now engage with pupils who are fascinated by Sky Sports’ innovative coverage, which now includes the Zen Green Stage. Everyone is talking about it – the top golf coaches, and the top golf TV presenters.

“Adding the Zen Green Stage to your business connects you directly to modern audiences who love to watch Tour golf coverage on Sky Sports. Merely by being there it gets your golf club or academy into the headlines, it positions you as technically-advanced, and it creates a big additional fun-factor to every visit to your establishment.”

Andy Herridge, Partner at Harewood Asset Finance, said: “We have made the process of applying for Zen Green Stage finance as quick and simple as possible. You can choose whether or not to make a deposit, to lower your monthly payments, and after the final payment you fully own your Zen Green Stage.”

A PGA Professional and GCMA Member, and formerly Captain and Chairman of the PGA of Yorkshire, Herridge is familiar with the challenges faced by golf coaches and academy managers. “Within a few days your account could be set up, your order placed, and you will be on your way to making an early return on your investment by offering a new level of coaching on the Zen Green Stage” he said.

Herridge also had some advice for buyers who intend to put the Zen Green Stage at the heart of their golf coaching business. “We can very much tailor the finance package to suits your needs through a variety of products we have available. Repayments can be spread to suit the seasonality of the industry and Capital Allowances may be applicable to your business.”

Nick Middleton concluded: “As the former Head Professional at England Golf’s 2018 Club of The Year, Leeds Golf Centre, Andy Herridge really understands the challenges facing anyone looking to monetise their skills as a golf coach. He’s been there! He and the Harewood team can help you to grow your business in many ways – including financing your Zen Green Stage purchase.”

Start by calling Nick Middleton at Zen Green Stage on +44 (0)7971 403627, or Andy Herridge at Harewood Asset Finance on +44 (0)1937 222123.

5th June 2018

BMW X5 Special Offers

BMW X5 M50d & xDrive30d M Sport Special Offers

Images by Jesse Maricic & Micah Gianneli | http://micahandjesse.com

X5 M50d AUTO – from £569 per month

Includes:

Metallic Paint
Professional Multimedia and Navigation System
iDrive with 10.2″ Colour Screen
Leather Interior
Heated Front Seats
Park Distance Control
Adaptive M Suspension

Initial payment of £3,414 followed by 35 payments of £569 based on 10,000 miles a year, customer maintained

X5 xDRIVE30D M SPORT – from £499 per month

Initial payment of £2,994 followed by 35 payments of £499 based on 10,000 miles a year, customer maintained

Personal contract hire and funder maintained quotes are available on request.

Harewood Asset Finance LLP is an independent commercial finance brokerage and not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent finance advisors and so are unable to provide you with independent financial advice. Harewood Asset Finance LLP is an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035. Harewood Asset Finance LLP is a Franchisee of Asset Finance Solutions (UK) Ltd

2nd May 2018

Renault Clio | Personal Contract Hire Special

£199 per month, 10,000 miles per annum

Renault Clio 1.2 16v Dynamique Nav

36 monthly rentals of £199 on a Personal Contract Hire agreement with an estimated contract mileage of 10,000 per annum (30,000 total mileage). Customer maintained.

Other profiles and mileages available on request. Excess mileage charges apply at 6.5p per mile. For funder maintained please add £26 per month

Figures stated include VAT at 20%. For Business Contract Hire please remove the VAT at 20%.

Harewood Asset Finance LLP is an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035.

Harewood Asset Finance LLP is a Franchisee of Asset Finance Solutions (UK) Ltd

Finance is subject to status, Ts&Cs Apply. Image is for illustrative purposes only.

01937 222123

sales@harewoodaf.co.uk

24th April 2018

BMW 218D MSPORT AUTO – £249 A MONTH

BMW 2 SERIES SPECIAL OFFER

£249 + VAT per month, 10,000 miles per annum

BMW 218d M Sport Auto (Nav)
– Choice of colours (some colours may incur an additional charge)

Initial payment of £747 followed by 35 monthly payments of £249 on a Business Contract Hire agreement with an estimated contract mileage of 10,000 per annum (30,000 total mileage). Customer maintained.

Other profiles and mileages available on request as are Personal Contract Hire quotations

Figures stated exclude VAT at 20%

Harewood Asset Finance LLP is an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035.

Harewood Asset Finance LLP is a Franchisee of Asset Finance Solutions (UK) Ltd

Finance is subject to status, Ts&Cs Apply

01937 222123

sales@harewoodaf.co.uk