Leases

[natalie]

I would like to purchase an asset, but at the moment I don't have cash.
I found the following options:
1.to purchase now on 0% for full year, and then pay in full.
2.to lease, at the end purchase asset.

If I choose 1 option do I account for the asset in balance sheet and depreciation, when the asset arrives, or I wait until I make a payment?

2. I was in contact with one company about lease, and they told me that the lease is 100% tax deductable, but I have doubts.From what I know if I want to lease equipment and at the end hopfully to purchase it for additional amount( as I was promised by the leasing company), then it is financial lease and it is different accounting procedure.
Please tell me am I right on this. How to account for financial lease?(Our company is Ltd).
Thank you.
Kind regards,
Natalie.

[Natkits]

Hi Natalie and welcome to Platinax.

Sorry, I have absolutely no idea how to answer your query; I'm sure someone else more qualified will be along shortly with your answer.