Need help to pay your tax bill?
We can source a loan facility which allows you to take control of your cashflow by spreading the cost of your tax bill over a more manageable monthly repayment profile.
Tax loans explained
A tax bill is the amount of taxation which a business is liable for based upon current legislation. Tax liabilities are incurred from earned income, a gain on the sale of an asset or other taxable events.
If a business is a limited company, it will pay corporation tax once a year. Because this is retrospectively paid, it’s easy for the business owner(s) to get caught out if he/she hasn’t been putting enough funds aside throughout the course of the year.
When a business tax liability is due, they must ensure they have adequate cashflow to meet that demand. A tax bill cannot be put off until the business is in position to pay it, HMRC does not hesitate in issuing penalties for firms which do not meet their tax liabilities on time.
Financial penalties are just one of the measures open to HMRC for late or non-payment of tax demands, other consequences are; issuing a wind-up order or even liquidating a company.
The cashflow for many businesses can go up and down in seasonal fashion. It is therefore important that the business owner(s) put aside monies to meet their future tax obligations.
However, if the business finds due to unforeseen circumstances that they are unable to meet their tax obligations, or even if a business has a better use for those monies, then we can assist.
What is a tax loan?
Working capital within a business is of the utmost importance in order to take advantage of market opportunities.
For this reason, business tax loans are becoming increasingly popular, freeing up cashflow and meeting the demands of HMRC on time.
Whatever your business type, we can assist you in finding a finance solution which enables you to spread the cost of your Tax bill over a term of up to 60-months.
Benefits of a Tax loan:
- Easy to arrange facility
- Unsecured lending
- Protects your working capital
- Fixed repayments over an agreed loan term
- Decisions in as little as 24 hours
- Payment can be made directly to HMRC, if required
- No HMRC penalties
What is a VAT loan?
Like a tax loan, VAT loans allows a business to retain their working capital whilst meeting their VAT demands. Access to working capital for a business can be the difference between being able to take advantage of opportunities which arise or settling an unexpected bill which otherwise could have severe consequences.
We have access to specialist lenders who can provide a business VAT loan facility. VAT loans have been designed to help businesses manage this regular statutory expense providing options to spread the cost over an agreed term.
What is the Process?
The lender will require a copy of the businesses VAT return, accounts, bank statements and information on the Director(s) of the business. Like a tax facility, a VAT loan is a very fast funding process.
Benefits of a VAT loan:
- Quick to arrange
- Payment can be made directly to HMRC
- Simple documentation – E-sign capability available for speed of service
- Does not impact upon existing banking relationships
- Option to use as a rolling facility (subject to approval)
Complete the short form application today to enable us to secure a loan facility suitable for your circumstances.