Importance of a loan calculator
Here at VAT Loans we offer finance for a range of business loans. These include (but aren’t limited to) VAT Loans, Corporation Tax Loans, Professional Indemnity Insurance Funding and Bridging VAT Finance. We also cover Professions Loans, Equipment Loans, Dilapidation Loans, Working Capital and Peer-to-peer funding.
An important part of funding these business loans is going through an easy and straightforward process. This stems from you as the customer knowing how the process works, which is why we are always as transparent as can be with you. This is why we have calculators with rates behind so that you can calculate rough figures before even speaking to us! If you would like more information on the importance of a loan calculator, then please read on.
VAT Loans
VAT Loans are used in order to pay your company’s VAT bill. We pay HMRC directly so that you don’t have to manage any of the admin and we take care of this for you. We have a dedicated VAT calculator in order for you to see what the rough repayments would be. The numbers below are based on a £10,000 loan amount, spread over 3 months.
Repayment term = 3 months
Monthly repayments = £3616.67
Total repayments = £10,850.00
Corporation Tax Loans
Corporation Tax Loans are, nice and simply put, used to pay a HMRC Corporation Tax bill. It breaks up your bill into monthly fixed instalments and allows you to keep your cash in the business. The loan won’t affect any other funding like overdrafts or other loans. The numbers below are based on a £10,000 loan amount, spread over both 6 and 12 months.
Repayment term = 6 months
Monthly repayments = £1,821.67
Total repayments = £10,930.00
Repayment term = 12 months
Monthly repayments = £935.83
Total repayments = £11,230.00
Professional Indemnity Insurance
PII is a definite insurance policy that UK companies who offer advice should think about. This is offering advice or a service to their clients. Depending on the type of business you are, any of your insurance costs can be some of the highest. This is not including payroll and office rent. The numbers below are based on a £10,000 loan amount, spread over a 3 to 18 month period.
Repayment term = 3 months
Monthly repayments = £3,548.33
Total repayments = £10,645.00
Repayment term = 6 months
Monthly repayments = £1,793.33
Total repayments = £10,760.00
Repayment term = 10 months
Monthly repayments = £1,096.00
Total repayments = £10,960.00
Repayment term = 12 months
Monthly repayments = £921.67
Total repayments = £11,060.00
Repayment term = 18 months
Monthly repayments = £625.56
Total repayments = £11,260.00
Contact Us
For more information on the importance of a loan calculator or for a free no obligation quote, please give a member of the VAT Loans team a call on 01494 956 871 or email us on [email protected].
