Business loans around tax time

It’s that time of the year again when your accountant is hard to reach. You have accounts to file, you’re trying hard to get all the information together so your tax is paid correctly and on time. Not everyone is on top of their finances and at this time of year working capital can be tight.

Most business owners don’t have the luxury of a generous bank overdraft they can call on when needed. The good news is there are a few options out there.

  1. Peer to peer finance is there for working capital. You just need to have your 2 years accounts, 6 months bank statements and the tax clearance certificate. So while it won’t help if you can’t get your tax up to date, it will give you more working capital if you’re tight after settling your tax bill.

  2. Cash advance is available if your business takes significant revenue through the card machine. It’s OK to use the facility to settle your tax bill.

  3. Asset finance might be an option if you have assets that you own. You could leverage working capital from some lenders.

If you need to come up with ideas to fix up the tax bill, we might just be able to help. Call 01 55 636 55