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The uncertainty of running a business means that you don’t always have the cash flow to pay a tax bill when it’s due. Although this is quite common, it can lead to unwelcome scrutiny from HMRC, late payment penalties and interest charges. To avoid this, you may decide to ‘rob Peter to pay Paul’, by paying your tax bill at the expense of other business costs, but this brings its own stresses and pressures. Thankfully, there is a solution.
Business tax loans allow you to spread the cost of your tax bills into more manageable repayments. At UK Business Finance, we can help you find loans for HMRC VAT and Corporation Tax bills with funding terms to suit your particular requirements. We cover the whole market and there are no fees for our service. We can even fill out the loan applications on your behalf, so you can concentrate on running your business.
A business tax loan is an easy way to access the money you need to pay your tax bill when it’s due. You then repay the loan with monthly repayments over a fixed period to reduce the impact on your cash flow.
We can help you find business VAT and Corporation Tax loans of £5,000 to £250,000, repaid over a typical term of three to 18 months. This type of loan is usually unsecured, so there’s no risk to your business assets but you may have to sign a personal guarantee.
A business tax loan can give you a quick injection of cash at a vital time, so you can maintain investment in your business and keep your competitive edge. Here are some of the benefits of this type of loan:
However, as the loans are unsecured, the rates are typically higher than you’d pay for a secured business loan. You should also have a plan to pay your ongoing tax bills when they fall due as well as your loan repayments.
Only limited companies are eligible for corporation tax bill funding but sole traders and partnerships can apply for a business loan to pay their VAT. The following criteria also apply:
As part of the vetting process, the lender will also review the business’s financial situation to make sure it’s viable and the loan repayments are affordable.
If you need help paying a tax bill, we can help you find the best funding options and facilities that meet the specific requirements of your business. Just tell us how much your tax bill is and your ideal loan term and we’ll search the whole market to bring you the best deal. Request a quote or get in touch to discuss your funding requirements with our team.
We work across a wide range of sectors throughout the UK, providing specialist advice to each sector.
What can company finance be used for?
Business finance can be used for a multitude of purposes within a company, from boosting general cash flow to funding development projects and buying stock. Its flexibility and adaptability to an individual business’s needs make it ideal whatever stage of business you’re at.
Management buy-in financing options
If you’re considering being part of a management buy-in (MBI) or you’ve decided to sell your own business to an incoming management team, there are several ways in which the transaction can be financed.
Can I get business finance if my company is insolvent?
If your company is insolvent, it’s vital to stop trading straight away and obtain assistance from a licensed insolvency practitioner. The insolvency practitioner’s role at this point is to assess your company’s financial situation so that they can provide guidance on whether additional finance is appropriate.
Can’t pay company bridging loan – what are my options?
A bridging loan is a form of short-term finance that lasts for up to 12 months. It provides vital funding between transactions when a company purchases one property before the sale of another has been completed.