HMRC FUNDING
A HMRC loan is an unsecured business loan designed specifically to pay your HMRC VAT or corporation tax liability. This allows you to distribute your firm’s tax bills evenly over the year with manageable monthly payments instead of having to pay a large sum every three months or at the end of a year – If you’re a growing business it’s likely that you could always make better use of your cash than send it to HMRC.
To take advantage of this funding all you need to do is supply the relevant tax bill with your last filed accounts and we can do the rest for you! The lender will typically pay HMRC directly on your behalf and you would then pay monthly repayments to the lender.
THE BENEFITS
- Obtain supplier discounts by using the funds to pay creditors early
- Use the retained cash to fund new orders and business opportunities
- Help smooth out cash flow pressures from other areas of your business
- You can use this every quarter resulting in a revolving working capital pot
- Customers needing longer payment terms
- Often no personal security taken