Spread the cost of your business tax bill by paying in instalments
At this time of year, preparations are underway for the festive period with many pennies and pounds being directed towards almost anything other than the pending tax bill. The 31 January 2018 can sneak up on taxpayers and having a large payment encompassing a payment on account for the next tax year and a balancing payment for this tax year can be something that might not have been adequately budgeted for.
Also worrying is that HMRC have recently had problems with their systems that have resulted in some taxpayers receiving postal self-assessment statements, understating the amount that will be due on the 31 January.
Our MHA Financial Solutions team have the answer to your problems. If you run a business and your tax bill is over £10,000, you can apply for a credit facility to spread the cost by paying in monthly instalments. There are no application or arrangement fees for using this facility, just a small transaction fee which will be added to the invoice amount, as advised by your accountant. The application process is simple, with no need to complete complex application forms or provide supporting projections.
The facility provides the business with cash flow freedom, releasing cash for use as working capital within the business.
Greg Taylor, Managing Director, commented:
“This solution will provide options for businesses of all shapes & sizes to ensure that their HMRC commitments are fully met without needing to take the funds from their cash flow or potentially suffering late or non-payment penalties from the Revenue. MacIntyre Hudson are forward thinking accountants that are always looking at ways to help with innovative solutions for businesses.”