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Tax Funding for Businesses

Key benefits:

  • Spread the cost of your bill over 6 or 12 months
  • Take the pressure off your cash reserves
  • Smooth cash flow peaks and troughs
  • Maintain working capital for other areas of your business
  • Payment can be made quickly to the HMRC

Summary

Unlock your cash flow for business growth

As a significant cost for your business, tax liabilities can put a considerable amount of pressure on your cash flow, even when you have planned for them.

Paying for your tax bill upfront can tie up your banking lines and mean that you are lacking working capital in other important areas of the business.

If you're thinking about spreading the cost of your corporation tax liability in order to retain working capital in your business, Wesleyan Bank can help.

Providing a short-term unsecured loan over 6 or 12 months, you can benefit from set monthly payments to help you to manage your cash flow throughout the year.

*Update October 2020*: Previously, self-employed professionals who pay tax by payment on account were allowed to defer their July 2020 payment to 31 January 2021 but were then expected to settle their account in full. However, under the Winter Economy Plan, those who pay tax by self-assessment can defer the payment due on their 2019-20 tax return for 12 months from January 2021. Click here for further information.

Wesleyan Bank acts as a broker and a lender.

Written quotations are available on request from Wesleyan Bank Ltd. Credit facilities are subject to status and only available to UK residents over the age of 18. Wesleyan Bank Ltd reserves the right to decline any application.

Depending on the circumstances and where required by law, loans will be regulated by the Financial Conduct Authority and the Consumer Credit Act.

How can we halp

Speak to our dedicated team of account managers to find out how we could help your business spread the cost of short-term bills like corporation tax.

Useful links:

Complimentary solutions for SMEs
VAT funding

VAT funding

Tailored VAT spread payment options over 3 - 12 months for small and medium-sized businesses.
Asset Finance

Asset Finance

Whether you're looking to purchase new specialist equipment or machinery, or upgrading your offices, our Asset Finance solutions allow you to spread the cost up to 5 years.

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

Click for more information about the Wesleyan group of companies.

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