How can HMRC loans help you and your business?
In this article, we delve into the intricacies of HMRC Loans, offering a comprehensive guide to navigate their process. Securing a bank loan can be a drawn-out, challenging task. Their lending policies often pose difficulties if you’re aiming to borrow merely £8,000 for a quarterly term.
For UK-based firms unable to pay their VAT bills and facing potential 15% HMRC penalties, relief might be on the way. Surprisingly, a variety of reasons lead companies to choose tax funding firms like VAT Loans.
This enterprise thrives on facilitating numerous small-profit, short-term loans – all having repayment durations between three months to a year. There are no hidden charges or document fees that banks usually levy for profit. Our system is straightforward and swift. Transparent documentation allows customers to decide without apprehension.
We require details such as the following:
- Your borrowing amount (£8,000 to over £1m)
- Repayment duration (Three months to a year)
- Preference for initial direct debit repayment timing
- Your company’s name and contact info.
Upon receipt, we perform swift financial background checks and often provide loan approval indications within minutes, subject to full approval. Personal guarantees from the majority shareholders are obligatory for these HMRC tax funding loans, providing lenders with added security. You assure us that your business will continue operating in the next three to twelve months.
In case you halt operations after paying the HMRC bill from the company’s reserves, you stand to lose only the interest paid. We will seek your consent for a personal search, with full underwriting typically completed within 48 hours.
What follows?
The agreement is emailed to you for signing and returning to VAT Loans. You also need to confirm the date for us to pay HMRC. Most firms prefer the HMRC payment to be made three days before the due date, thereby precluding any late payment penalties. Clients usually request the initial direct debit payment to be deferred by a month post the tax bill payment.
All documents are available on our secure portal and our Tax Funding team is readily accessible for any queries.
HMRC is satisfied as your tax liability is settled on time.
Contact Us
Contact us if you require further insights into how HMRC Loans function. Reach out to our team via our contact page, call us on 01494 956 871, or email us at [email protected].
