Flexible VAT funding solutions for your firm
VAT returns represent a significant outlay for any legal practice and can regularly impact the cash flow of a business. The more successful your practice has been, the higher a VAT bill you can expect to receive. A high expenditure up front can leave you running low on cash for other important areas of your practice.
We offer simple and flexible unsecured loans to spread the cost of your VAT bill and to ensure that your practice has working capital where it needs it most. Spread the cost of your liability over 3-12 months giving predictability and allowing you to smooth peaks and troughs in your cash flow.
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 legal firm as well as many years' experience of working in the legal sector.
Speak to one of our dedicated and knowledgeable account managers today to see how we can help support your practice today and in the future.*Update October 2020*:
Firms that deferred their VAT payment earlier in the year will no longer have to pay it in a lump sum at the end of March 2021. Instead, they are being offered the opportunity to split this payment into smaller, interest-free payments over the course of 11 months. If you are one of those firms then it may be better to take this option. Click here
for further information. Wesleyan Bank acts as a broker and 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.This funding is currently only available to existing customers of Wesleyan Bank.
For customers in the legal sector we will also require a personal guarantee.
Depending on the circumstances and where required by law, loans will be regulated by the Financial Conduct Authority and the Consumer Credit Act.
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.