VAT Loans are a great way to avoid any damage made to your cash flow from your quarterly VAT bill.
That is why an increasing number of businesses in the UK are seeing the benefits of getting their VAT funded. However, if VAT loans are a finance avenue you are not so familiar with and would like to learn more, read on for some frequently asked questions we get about our VAT loan funding facility.
Why do businesses get VAT loans?
VAT loans are becoming increasingly popular amongst UK businesses as they provide cash flow relief. They do this by spreading the cost of your VAT liability across the space of 3 months instead of an upfront lump sum.
How much can I borrow?
Anything from £10,000+
How is the payment made?
We can pay HMRC directly or we can make the transfer into your chosen bank account.
How do the repayments work?
You the cost of your VAT bill will be spread across the period of 3 months, therefore making it more affordable. Your first repayment will then be due between the 1st and 4th of the following month after activation.
How can I find out what my monthly repayments will be like?
You can get fast and free indicative figures using our free VAT loan calculator here!
How long will it take for me to get credit cleared?
We can look to get you approved within just 24 hours! We therefore understand HMRC deadlines are important to meet.
How long does payment take?
We can make direct payment to HMRC in just 48 hours- therefore saving you all the hassle!
Do I need a director’s guarantee?
No. No directors guarantee is required for taking out a VAT loan.
Do you have a question about VAT loans that wasn’t answered in this blog? If so, please don’t hesitate to get in touch. Give us a call on 01494 956 871, or drop an email to [email protected].