Utilise cash where you really need it
Corporation tax can be a significant cost to your firm, putting momentous pressure on your cash flow and taking over your banking lines and overdrafts. By paying for your tax liabilities up front, you are losing the ability to utilise this working capital in other, more important areas of your legal practice.
Wesleyan Bank offers an unsecured loan over 6 or 12 months to fund your tax liability allowing you to retain cash in your business. As the only strategic partner that provides finance to the Law Society of England and Wales and its members, you can be assured that we have the expertise and knowledge to support your practice.
Speak to one of our dedicated and knowledgeable account managers who can discuss your exact requirements and provide you with a tailored quote to suit your practice.
*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.
Where we act as a Broker, loans are provided by a single lender. In these instances, we receive a commission payment calculated as a percentage of the overall loan value from the lender. This commission payment does not impact the final amount that you pay for borrowing.
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.
The Law Society a professional body whose registered office is situated at 113 Chancery Lane, London, England WC2A 1PL. Telephone: 020 7242 1222, www.lawsociety.org.uk.The Law Society is an introducer appointed representative of Wesleyan Bank Limited.
Depending on the circumstances and where required by law, loans will be regulated by the Financial Conduct Authority and the Consumer Credit Act.