
New Finance lease act give more priority to ‘lessor – security.’ It is often an another way of finance to a secured lending business.
The basic concept of new finance lease act is relatively simple. The property owner gets immediate payment from the financier. The financier then transfer the property to the buyer (lessee) in return for rental payments for a mutually agreed time period identical to the useful life of the property. The rental payments cover the cost of acquisition plus interest or profit. The seller and the lessee may be the same person – a sale and leaseback arrangement.
New Finance lease act came into effect on 1 January 2019. The Law does not cover the disagreement or argument of law issues that may arise in the context of managing with rights of ownership, use and possession of assets contained in a typical finance lease contract. New Finance lease act also deals with the legal, accounting treatment and tax.
Read More : https://www.spectrumaccounts.com/uae-financial-leasing-law-update/

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Net Desire Technologies"We value Mr Balaram and the Spectrum Auditing team as our advisers and accountants for quite a long period. They prepare our accounts, company VAT returns, address compliance issues and the service is always good and timely. We feel we can pick up the phone to them whenever we need to and discuss our business matters."

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Net Desire Technologies"We moved our audit and VAT work to Spectrum 4 years ago and since then their support to us has been invaluable and their team are brilliant to work with. Mr Vamshi has many years of experience in the sector. They are responsive, proactive and supportive and we value the relationship we have built up. I would highly recommend their services to anyone."

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Net Desire Technologies"We have been working with Mr Balaram and his team at Spectrum Auditing for three years. They provide us with expert advice in relation to our annual accounts, tax and Solicitors’ accounts rules. The team at Spectrum Auditing are very professional, and always give clear advice and guidance in a prompt and efficient manner."

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Net Desire Technologies"The range of services provided by Spectrum was useful and convenient for our online business. Their work execution is commendable. It was very easy working with Spectrum as it has a very high standard set of procedures and provides high quality services."

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Net Desire Technologies"We have found the Spectrum team to be very professional, knowledgeable and approachable. They did an excellent job of keeping us informed as the audit progressed and agreed with us on some amendments to our processes. They are always at the end of the phone and have been keeping us updated with regular communication of all the latest updates in the market through their newsletters."

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Net Desire Technologies"Spectrum Auditing has brought efficiency, time and cost savings, clear expectations and guidance to our VAT process. Looking forward to working with you for many more years."

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Net Desire Technologies"The team at Spectrum Auditing performed an audit for Alpha UK Training in a way that was timely, professional, well communicated and very suggestive of a serious professional in this field. They have also been taking care of our VAT and other advisory services. Attention to detail, understanding the needs was always placed on first priority. Our company will not hesitate to use them again during our next audit."

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Le Pear Societe"Spectrum Auditing has been performing Golden Tulip audits for the last 4 years and we are very much happy with their professional approach, issue resolution strategy and completion of tasks before the stipulated deadlines. Mr. Balaram, the Managing Partner of Spectrum has been there every time we needed his inputs and the team adhered to the protocols laid down to them in executing the work. We will not think twice to recommend anyone to go with Spectrum for audits or any kind of accounting work."

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Mange Tout Gifts"Spectrum team is always available and approachable, and proficiently deals with our accounting needs. They are often the first professionals we turn to discuss accounting and taxation matters."