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Tax loans explained

A tax liability is the amount of taxation that a business incurs based on current tax laws. Tax liabilities are incurred from earning income, a gain on the sale of an asset or other taxable events.

When a business’s tax liability is due, they must ensure they have the adequate cashflow to meet that demand. A tax bill cannot be put off until a they are in a position to pay it, HMRC does not hesitate in issuing penalties for firms that do not pay their tax liabilities on time. Late penalties are just one of HMRC’s consequences of non or late payment, others are issuing a wind up order or even liquidating a company in its entirety.

Many businesses have cashflow that can go up and down over the seasons, and it is imperative therefore that funds are put away to meet their tax obligations. However, if they find that for unforeseen circumstances they are unable to meet their obligations, or even if quite simply a business has a better use for that money, help is at hand!

What is a tax loan?

Businesses are savvy with their finances and having working capital is of utmost importance in order to take advantage of business opportunities. For this reason, tax loans are becoming increasingly popular, freeing up a business’s cashflow whilst meeting the demands of HMRC on time.

Whatever your business type, we can assist you finding a finance solution that enables you to spread the cost of your Tax bill over a 6, 10 or 12-month term, helping you navigate this cost and avoid HMRC late payment charges.

Simply put, a Tax loan can help you to free up cash for investment in other areas of your business.

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How we’ve helped businesses with their tax loans

We’ve helped all types of businesses across the UK gain access to funding to settle their tax and VAT liabilities. We source the best rates for you. We help businesses free up their cash flow. We partner with lenders who specialise in tax loan lending.

Warehouse firm not wanting to utilise all their capital

The Director of a large warehouse firm used BusinessComparison.com to source finance to settle their TAX bill. The Director had been offered a fantastic opportunity where he could buy the premises he was renting at a discounted price and had adequate capital to fund the purchase, but not much more.

The Director decided to use their capital to take advantage of this new opportunity, and to obtain a loan to pay the TAX liability. We matched the Director to a lender who was able to lend the full amount of money to settle the liability, on a 3 month term.

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Property development firm needing funds quickly

We were contacted by a large property development firm, who had a couple of weeks left before their tax bill payment was due. They had expected the sale of a recent development to cover the cost, however the sale was delayed and they could not liquidate any other asset in the short timescale.

Our specialist lender was able to approve the firm within 48 hours, with funds being drawn down within a week. The client went on to settle the loan once they had received the proceeds of the development sale.

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VAT Accounting error

We helped a professional services firm who had unfortunately uncovered an accounting error, meaning the VAT demand was going to be considerably more than expected. The company turned a considerable profit, but would not have be able to raise the funds in time, so a VAT loan seemed the best option.

After speaking to our specialist lender, a loan was agreed on rates which were much lower than the Directors expected. They had assumed that because the loan was needed quickly and for a short term that it would be expensive but were really pleased this was not the case.

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Benefits of a Tax loan

Our popular tax loan facility is quick and fast, and has been designed to help businesses manage this annual expense. It allows businesses to take control of their cash flow and spread the cost of their tax liability into more manageable monthly payments.

• Easy to arrange facility

• Unsecured lending

• Protects your working capital

• Fixed monthly and quarterly repayments available

• Decisions in as little as 24 hours

• Payment made to HMRC directly or to your bank account – you choose!

• E-sign option for rapid document completion

• Protects existing bank facilities

• HMRC receive payment on time, meaning no penalties!

Contact us today, tell us the amount of your tax bill and the term you would prefer. We will tailor the tax loan to suit your circumstances moving quickly to avoid any late payment penalties from HMRC.

Benefits of a VAT loan

VAT loans have been designed to help businesses manage this regular business expense providing options to spread the cost either via regular 3-month rolling periods with a loan agreement.

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 loan, a VAT loan is a very fast funding facility, it can take as little as 24 hours to make a decision.

Contact us today and tell us the amount of your VAT bill. We will them tailor the VAT loan to suit your circumstances, moving quickly to avoid any late payment penalties from HMRC.

• Quick to arrange

• Payments can be made to the HMRC directly on your behalf or to your bank account.

• Simple documentation – E-sign capability available for speed of service

• Does not utilise existing banking relationships

• Option to use as a rolling facility (subject to approval)

VAT Loan

Like a tax loan, VAT loans allow businesses to retain their working capital whilst still meeting their VAT demands. A businesses access to working capital can be the difference between being able to take advantages of opportunities that arise or settling an unexpected bill that otherwise could have severe consequences. Simply put, access to cash can be king. BusinessComparison has access to lenders that can provide your business with a VAT loan facility.

If interested in Tax Loans?

Compare loans for business from over 30 lenders to find the best finance deals for businesses every day. Why not give it a try?

Whether you want advice or you'd like to apply for finance, we’re here for you.

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