As we’re sure you’re aware, the deadline for your tax payment is just around the corner.
With Christmas already a busy time of year, many smaller businesses may not have considered this costly expense. In a recent survey we conducted, nearly one in five admit they don’t forward plan for Christmas and the New Year.
So, how do you pay yours?
- Bank?
For most of Britain's smaller business owners, asking your bank for money is an experience you’d rather not repeat. Typically, many businesses will turn to their banks to ask for the money, but not only can it be a long and bureaucratic process, it is estimated that 45% of smaller businesses are unsuccessful when obtaining finance. The funding gap for smaller businesses could be as much as £35bn. [1] - Cash flow?
Businesses will use their own funds to pay the bill, dipping into their cash flow to make a one-off payment. However, this can be at the cost of developing other areas of the business, pushing back investment in much needed equipment or staff and ultimately restricting potential growth.
Did you know you could spread the cost of your tax bill with LDF?
At LDF, we understand that businesses like yours want to continually develop your business, whilst still maintaining a healthy cash flow. Our short-term business loan can help you to invest your money more wisely.
"No fuss loan application. Understood my business capital needs
and supplied finance where conventional banks failed."
Steve Hopkins, Awesome Weekends
Our unsecured self-assessment tax loan is available over 6, 10 or 12-months. With the money in your account in as little as 4 hours, the impact on your day-to-day operations is minimal.
Over the last 30 years, we have helped thousands of businesses like yours to finance their tax bills to maintain cash flow and avoid bank bureaucracy.
Want to find out more?
Covering the cost of your HMRC Tax bill is a regular and considerable expense and something an increasing number of businesses are choosing to finance:
- No initial large outlay - You can choose to pay in instalments rather than as a one-off payment
- Ability to invest in other areas of the business such as:
- Equipment
- Refurbishment
- Expansion
- Recruitment
- 77% are choosing alternative finance as opposed to banks
For more information on the tax facilities available to you, download our ‘A simple guide to Tax' to discover all you need to know about the options available to your business from White Oak UK, the government’s new 'Making Tax Digital' scheme, plus some handy tips and tricks to support the tax process.
Sources: British Business Bank [1]
