TRAILERS GET HP EXEMPTION
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DISCUSSIONS between the Road Haulage Association and the Board of Trade have led to arrangements under which the hire purchase exemption applying to rigid commercial vehicles can be extended to trailers.
Definitions applying to the Hire Purchase and Credit Sale Agreements (Control) Orders distinguish between the two types of vehicle. Trailers are included in a category for which hire purchase facilities can he made available only on payment of at least one-third of the purchase price and repayment of the balance over a period not exceeding 24 months.
To overcome the anomaly, the RHA has suggested the issue of a general licence enabling finance houses to treat rigid vehicles and commercial trailers on the same basis. In the meantime, any member experiencing difficulties is being advised to ask his finance house to apply to the Board of Trade.
TOG profit boost
TRANSPORT DEVELOPMENT GROUF 41LTD. profit before tax for the six months endec June 20 1966 amounts to a record £2,570,697 compared with £2,398,382 in the same period last year. An interim dividend of 4 per cent less tax on the Ordinary Shares of the company ha., been declared. Group income For the period totab £21,928,000 compared with £18,932,000 Iasi year.