Overdue Corporation tax payments have hit a high of £1.59 billion this year, rising from £1.52 billion in 2014.
As the economy recovers, many companies are now starting to invest in business growth again by improving their infrastructure, purchasing new equipment and expanding the workforce. Ensuring that this investment does not impact cash flow and the ability to meet payment deadline remains a crucial consideration.
Businesses looking to expand need to make sure they find the right funding to support any growth plans, especially given the removal of facilities like the HMRC’s ‘time to pay’ scheme.
We understand however, that paying the full amount of your tax bill at once can put pressure on your cash flow leaving you with a tighter budget.
LDF’s Managing Director, Peter Alderson says “it can take a while for capital expenditure to translate into profit, which can mean that some businesses might experience cash flow issues if tax bills are bigger than expected”.
Read our 10 Tax Tips for SMEs blog for ways to manage your tax bills.
To find out more about how LDF can assist your business with Corporation Tax payments:
T: 01244 527300 | firstname.lastname@example.org