Financing Interior Design and Fit Out - Maris Interiors

Financing interior design and fit out projects

29th July, 2024

Whether you are moving to new premises, remodelling your existing space or opening up new sites, the costs of doing can be considerable.

Having an alternative to paying in full at the start of your project could transform how you think about your plans, your budgets and what you can achieve.

Increasingly, when it comes to financing interior projects, organisations are opting for asset finance instead of utilising capital or using a traditional banking facility. This approach not only enables the spreading of costs over a period of time, but also offers the potential for unlocking significant tax advantages.

It’s often overlooked how extensive asset financing can be. In addition to furniture and elements of the interior fitout, finance can be used to finance part of or 100% of the project cost, covering all of the fit-out works and even including any professional fees, move costs and dilapidations.

We sat down with Bluestone, an independent, award-winning broker who supports UK businesses by providing solutions that can finance these types of projects to discuss what can be financed, and the benefits to your business.

The benefits of utilising finance

Recognising that most equipment depreciates from the very beginning and only increases in value over time is crucial for some organisations, while others prioritise retaining capital for other investments.

Strategically adopting asset finance can revolutionise the way procurement is approached in general. There’s no longer a need to prolong the lifespan of assets or worry about sudden cash flow demands when it’s time for renewal. By paying a fixed monthly amount, businesses can have complete control over the work specifications they desire now, and in the future, making it a sensible choice.

One of the major advantages of asset financing is the assurance it provides regarding the lifecycle and redundancy of assets. You can rest assured knowing that these factors will no longer pose issues for your organisation.

Below are some of the key potential benefits available when financing an interiors project over paying with cash.

Tax Efficient

For private sector organisations, this method of bespoke financing provides a highly attractive, fully 100% tax deductible solution taking into consideration any enhanced tax reliefs and looking into the capital allowances for different elements of the fit out. Those that are subject to higher tax rates have even more to save or are a traditional partnership or LLP.

Retain Capital

Locking capital away in depreciating assets is no longer necessary. Free up the cash to be deployed elsewhere, working harder for your organisation and delivering true returns.

Costs Match Return

Financing allows you to match your costs in line with the return on your investment, unlike capital where all costs are paid upfront and in full.

Make Budgets Work

Make investment decisions based on your needs and not limited by constrained budgets which might otherwise restrict what you can achieve.

Reduce Risk

Become less reliant on your primary funder(s) and spread your risk. Your existing credit lines remain unaffected, and you unlock access to a large panel of specialist asset funders.

Fixed Costs

Your payments are manageable, low and fixed for the duration of the agreement so no hidden surprises or exposure should interest rates rise in the future.

Strategic Solution

Strategically, financing provides you with a mechanism to manage the lifecycle of your assets, across your whole estate, avoiding large capital investments.

Spread VAT

Rather than pay the VAT in full upfront as you would with traditional capital expenditure, the VAT is paid on each repayment (excluding Hire/Lease Purchase agreements.)

Total Project Funding

Expertise to make sure that all of your costs, including fees, labour and delivery charges can be included in your facility.

What can be financed?

There isn’t a definitive list as to what types of assets can or cannot be financed as part of a fitout project, but common examples include:

  • Interior fit-out – 100% of the costs
  • Furniture
  • Office equipment
  • Renewable energy, solar and EV charging
  • Warehouse racking and mezzanine floors
  • IT hardware and 100% software
  • Plant and machinery
  • Security systems
  • Catering and refrigeration equipment
  • Installation and labour costs.

Bluestone, Your Finance Partner

Bluestone is an FCA accredited, award winning, independent broker based in Wakefield with over 28 years’ experience providing finance solutions that enable UK businesses to invest in their growth. They take a consultative approach, taking the time to understand your business requirements and find the best solution for you, both in the short and long term.

Speak to the team at Maris today.

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