All articles by Andy Thompson
Andy Thompson
Outsourcing boosted by arrival of new players
Despite the recession, the outsourcing game in asset finance appears to be gaining momentum. A key reason is that as the market begins to pick-up again, and as other parts of financial services become less buoyant, the number of new entrants into leasing is on the rise
Are frameworks the answer?
A nationwide framework agreement for procuring vehicle fleets for the public sector already exists. Andy Thompson asks whether a similar scheme could also work for equipment procurement
New framework in UK for leasing CVs
Vehicle lessors have welcomed a new framework for the leasing of commercial vehicles (CVs) to public sector users, with many of the largest players in the market now participating in it.
Lombard and RBS defrauded out of £2m by pub con men
Court of Appeal judgment reduces criminals jail term by six months Lombard, the UK leasing subsidiary of Royal Bank of Scotland, was severely ripped off in a case that sets a legal precedent in English law for the sentencing of fraudsters. Two fraudsters involved in the scam, which included the sourcing of finance from Lombard for assets that had already been financed by a third party, were jailed several months ago.
Leasing survives tax disadvantage
A boost to tax write-offs by Finlands government means leasing finance is holding up well in the country despite an adverse side to the tax changes
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Can lessors be liable for misrepresentation?
A string of recent alleged supplier fraud cases have lead to re-examination of old rules Within point-of-sale finance arrangements, allegations arise from time to time that customers have been misled by equipment suppliers
Reasonable test no longer applies in international leases, Court of Appeal rules
In a landmark judgment on the liability of lessors for faulty equipment, the Court of Appeal has ruled that contracts do not have to be fair and reasonable where the supplier is in the UK but the leasing parties are based overseas. This represents an important step forward for lessors which, until the ruling, were subject to the Unfair Contract Terms Act 1977 (UCTA) which requires terms in contracts to be subject to this reasonableness test, albeit subject to various conditions.
Budget discriminates against UK lessors, say industry experts
Changes to Schedule 10 and debt capital welcomed by lessors The UK Budget on 22 April brought more bad than good news for UK lessors In particular, a temporary enhancement of capital allowances (CAs) for plant and machinery, aimed to stimulate investment during the recession, contained specific discrimination against leasing.
Eyebrows raised as Osborne outlines Tory tax plans
Shadow Chancellor George Osborne has been adding more detail to the Conservatives plans for UK corporation tax.
FLA: Budget not enough for leasing sector
The Finance and Leasing Association (FLA) has said that the measures announced in the Budget 2009 need to be followed by specific support from the government for the leasing and motor finance sectors.