Business Money
® Name of lender BANKS
Allied Irish Bank (GB) Bank Leumi (UK)plc Bank of Ireland UK Bank of Scotland Barclays
Close Property Finance Clydesdale Bank
Goldcrest Finance Ltd Hampshire Trust HSBC
Investec Bank plc Julian Hodge Bank Lloyds TSB NatWest
Northern Bank
Royal Bank of Scotland The Co-operative Bank Ulster Bank
United Trust Bank Yorkshire Bank
BUILDING SOCIETIES Dunfermline
70 60 70
60 (a) 67 55 70
70 60
neg 60 67
neg 70
60 gdv neg
neg neg
60 (a)
60–70 (f) neg
60–70 (f) 70 65
55-65 70
neg neg neg 60
neg neg neg 70 65
250–neg 2.5m–neg 50–neg 25–neg 25–neg
500–5.00 25–neg 30 –0.75
50 max 100 (neg) 50–1.00 66
10–neg (c) 1m–20.00 1m–neg 25–neg neg–neg neg–neg neg–neg neg–neg 250–neg
100 (neg) 250-5.00 70
25–neg max to 75 75
65 65
70 65
15–0.50
COMMERCIAL PROPERTY FINANCE COMPANIES Haydock Finance W M Mann
Peninsula Finance plc
N R N R N R N R N R N R N R N R
N R N R N R N R N R N R N R N R N R N R N R N R
N R
250.00-1.00 N R 30–0.90
N R
N R N R N R N R N R N R N R N R
N R N R N R N R N R –
N R –
N R N R N R N R
N R
N R N R
Libor + 1.50–5.00 Libor +2.00–4.00 0.50 + 1.50–5.00 negotiable
0.50 + 2.00–8.00 Libor +4.00–5.00 0.50 + neg
from 1.5% per month 5.00 + 3.00–5.00 0.50 + 1.50–6.00 0.50 + 3.00–5.00 6.50 average negotiable negotiable
0.50 + 1.85-7.00 negotiable
0.50 + 1.50–5.50 0.50 + 2.00–4.00 1.50 +6.00 min 7.50 0.50+ neg
7.84 + 1.00–3.00
0.50–1.50 neg neg 1.00 neg neg neg (b)
neg neg 21 25
neg (d)
neg – typ 2.5 neg from 1.00 50 neg neg neg neg neg
25
neg neg 21
neg
1.00–1.75 neg neg
neg
0.50–1.50 35 1.00 neg (b)
£350 0.50 + 6.00-7.00 (e) Temporary suspension of new lending
from 1.25% per month 2.00 neg
30 50 neg 40
neg 25
England, Scotland, Wales UK UK UK UK
England, Scotland, Wales UK
England, Scotland, Wales England, Wales UK UK
England, Scotland, Wales UK UK UK
England, Scotland, Wales England, Scotland, Wales Northern Ireland England and Wales England
Scotland
Selected areas of England Scotland
England, Scotland, Wales Key:
(n/s) Will consider non-status. Unexpired lease term at start of loan. N New R Refurbished. Note: The facilities are widely negotiable on the strength of the proposal. An unencumbered site may allow for a higher build cost exposure. A pre-sold development, subject to the strength of the buyer, may also qualify for favourable treatment. (a) 65% considered for prime quality commercial and residential cases (b) Neg, min £125 (c) £25k for sole traders and partnerships (d) 20 years – Scottish lease and 25 years – English lease (e) Calculates interest daily, fixed rate money is not on offer and APR’s not quoted (f) Commercial development finance 60-70% of GDV or development costs. Residential development finance: 65-75% LTC. Max 70% LTGDV and 70% loan to cost for flatted developments of five or more units or 65% loan to gross development value.
All information © Copyright Business Money Ltd 2010 The information in these tables is updated every month. The guide to Business Money tables is on page 74
Businesses cash in on capital allowance changes B
usiness owners could be missing out on thousands of pounds in tax relief on the purchase, construction and refurbishment of their offices and commercial properties. Depending on the building and
its use, tax repayments can amount to between 10% and 40% of the purchase price or construction cost say tax experts at north west accountancy firm Hurst. Businesses can claim tax allowances, called capital allowances, on certain purchases or investments. A proportion of these costs can then be deducted
from the taxable profits to reduce the tax bill.
There has been 21 legislative changes to the capital allowances regime in the last three years and items now qualify for relief that were previously excluded, including wiring, electrical systems, lifts, and air cooling systems.
Lisa Dicken, associate tax partner at
Hurst, said: “As times are tough, businesses are placing more emphasis on value and cashflow. Therefore they need to ensure they are claiming the maximum tax relief possible.
Business Money
Development Finance
LTV % Work in Progress
Amount Band Min - Max £k - £m
Commercial Residential Interest Rates + Margin %
Fee % Lease Years End of Loan
Area Guide
“It’s not a case of business owners not bothering to claim, but rather they don’t know they can claim it back on current and past expenditure. As soon as they realise there is relief available, they are quick to take advantage. Tax refunds may also be available as the relief can be carried back to prior years and offset against taxable profits.
“Demand for this service is expected to rocket and we’ve already been busy working with quantity surveyors and compiling thorough reports on behalf of businesses which we then submit to HMRC. Some businesses are receiving significant amounts back.”
November/December 2010 71
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