Improve Cash flow! Paying Tax bills.
Posted on 21st November 2016 at 15:07
How to use a specialist lender to help pay Tax Bills
November can be a difficult time for you as a business owner. It is not unusual to find the Corporation Tax, VAT bill, and quarterly rent all falling due together, a perfect storm of anxiety. This may be made worse by low cash receipts from the August and September trading period, both typically poor months for cash flow.
You may need help to improve cash flow but where do you turn for assistance? Well, certainly not the banks. Their processes are often too slow and they are generally not sympathetic to help you fund a tax bill. Thankfully, specialist lenders have stepped in to help fill this gap in the market helping to smooth the tax bills into a more manageable cash flow stream.
How does it work?
It’s a simple process.
The tax return/vat return is completed as soon as possible to identify the funding needed.
Application is made to the most appropriate lender along with some brief personal and business information. A personal guarantee is normally required
Your funding is accepted and a quote provided.
The loan is normally for the length of the tax period. So, Vat will be a 3 month loan and Corporation Tax will be for 12 months. If all payments are made on time and without problem then you can request the next period be covered with a fresh loan. The whole process normally takes around 7 days.
If you need a larger loan to help finance the growth of your Business, then this is not for you as there are usually better forms of finance out there but as part of an overall funding package it’s a very welcome addition to the business world.
So, If you need help to improve cash flow, particularly in paying tax bills give us a call 01937 584188 or email stephen@mouldsandco.com or victoria@mouldsandco.com.
Don’t struggle on, there is help out there!
Tagged as: Tax
Share this post: