Tax Funding & VAT Funding with Broadscope
Have you ever wished tax could be paid monthly? Or missed an opportunity to grow your business to avoid straining your cash flow?
There is an increasingly popular form of finance that provides many businesses with a remedy to those headaches. This is Tax Funding and it has many advantages.
Tax Funding used to be little known outside of the legal and accounting professions, where many firms have used unsecured Tax Loans for years as a way to ease the burden that liabilities place on cash flow; or simply as a way to free up cash for growth plans, without compromising existing bank funding lines. Over recent years the secret has been let out of the bag, so to speak, and it is becoming a major source of funding in wider industry.
Here are some of the reasons for its popularity:
- Unsecured loan, with a fixed term and rate – typically repaid over 6 or 12 months
- Competitive rates – banks and major finance houses provide facilities to our clients
- Loans available for Corporation Tax, Personal Tax, and certain other liabilities
- Simple process – rarely requires complicated financials such as cash flow forecasts
- Quick turnaround – same day decisions are possible
- Option to renew for the following liability (subject to application and acceptance)
- Retrospective funding of recently paid liabilities can often be arranged – loans paid direct to the business to replace the funds outlaid
VAT Funding
Everything said about Tax Funding also applies to VAT Funding, with the exception of the repayment term. VAT Loans are repaid over three instalments, which typically fall around days 30, 60, and 90. As with Tax Funding, there is often an option to renew for the following liability; this involves a new application, but it is usually even quicker than the first, due to most of the supporting financial information being available from the previous application.
Our finance experts would be happy to discuss your requirements and answer any questions you might have.
Broadscope can assist with a wide range of finance requirements beyond Tax & VAT Funding. Discover how we could help your business by using the links in the main menu.
Broadscope Finance is a trading name of Silvercloud Finance Solutions Ltd – an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035. We are an independent commercial finance brokerage and not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent finance advisors and so are unable to provide you with independent financial advice. We may receive payment(s) or other benefit from the finance provider if you decide to enter in to an agreement with them.
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