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Tax Loans For Your HMRC VAT Bill
New facility – No personal guarantee on bills up to £150k for qualifying businesses
- Avoid penalties and fines
- Spread the cost over 3-12m*
- Preserve cashflow, avoid one large payment
- Rolling credit option
*VAT loan terms are 3m. Corporation Tax loan terms are 6, 10, or 12m
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Over 20,000 UK SMEs Supported
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A Popular Solution to Spread Costs
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Expert Personal & Professional Service
We make Managing Your VAT Tax Bills, Easy
VAT Payment Due on the 7th?
For many businesses the deadline to pay your VAT bill is 7th February. We offer UK SMEs the option to spread the cost of their VAT, Corporation Tax bills, & professional insurances, without the need for a Personal Guarantee.
From £10k right up to £500k over a 3 month term, and no deposit required. Payments can be made direct to HMRC or to you, all we need is your company name and registration number to get started.
Can I pay my VAT monthly?
Yes you can. With finance it’s possible to spread the cost of your tax bill with a VAT loan, allowing you to make affordable monthly payments rather than take the hit of one large invoice.
For SMEs cashflow is essential, paying your VAT bill is an unavoidable expense, so ensuring you can settle your bills whilst covering operational costs is vital.
If you need extra funds to help stay on track with due expenses, we can help you secure it. Short term loans or flexi loans can ease the pressure of paying one lump sum, allowing you to preserve cash.
Can I get a VAT loan for my tax bill?
Yes. Reduce the impact on your business cashflow and avoid the possibility of fines due to late payments. Many of our customers also prefer to invest saved money in the business, then finance the VAT bill instead. For companies with good credit, there’s also an option to cover your bill with a loan that does not require a Personal Guarantee.
How do I finance my VAT tax bill?
Portman can arrange VAT loans that are designed to spread the cost of a quarterly or annual tax bill. There are a variety of products that we can provide depending on your needs. Business loans, short-term loans and flexi-loans may be good funding options.
Depending on the amount you need to borrow and how long for, our Account Managers will lay out your choices to help you decide what is most appropriate for you. As VAT bills are typically due 4 times a year, we would typically suggest a loan term of between 3 and 12 months.
Start your enquiry by completing our Enquiry Form. One of our Account Managers will give you a call to discuss your business and your needs.
Our experts can find the right funding for you.
VAT & Corporation Tax FAQs
When is my VAT Tax bill due?
Your VAT bill will be due 1 month and 7 days after the end of each quarter of your accounting period. It’s common for businesses to end their financial year at the end of March, June, September or December, meaning VAT bills will be due by 7th February, May, August and November.
It’s crucial to pay your VAT bill on time, interest and penalties will apply if you miss your deadline. HMRC can further escalate the issue if your payment becomes increasingly overdue by using winding up orders and liquidations, so make sure you have the funds to pay your VAT bill.
Should I take a VAT loan?
Taking a VAT loan depends on your specific financial situation and business needs.
If you didn’t accurately estimate your bill and did not put the correct funds aside, need to use your free cash for operational costs or simply prefer to spread the cost of your tax bill over a longer period, a VAT loan may be a viable option. This can help you avoid late payment penalties and maintain good relationships with HMRC. Portman will work with you to help you understand the costs associated with financing and ensure that you can afford the repayments.
Portman can also help you spread the cost of your corporation tax bill.
Can I make an early corporation tax payment?
Yes, you can make an early corporation tax payment as long as it is within the current accounting period. Early payments can help you stay ahead of your tax obligations and manage cash flow effectively.
How difficult is it to complete a VAT return?
How difficult you find completing your VAT return depends on your business, with simple models able to complete their returns without any issue. However, for more complex businesses, you may find an expert’s help beneficial. You can enlist the help of a trained accountant to help you with your VAT return, and they will ensure there are no inaccuracies, errors or discrepancies before you submit your VAT return.
Can I resubmit my VAT return if I’ve made an error?
Yes, you can resubmit your VAT return online or by post if you have made an error up to 12 months past the submission deadline.
Can I change to monthly VAT returns?
Yes, you can make VAT returns monthly if quarterly submissions do not suit your business. You can apply online via the HMRC to make this change or submit a VAT484 form via the post.
Can I change my accounting period for corporation tax?
Yes, in some cases, you can change your accounting period for corporation tax. However, certain conditions and restrictions apply, so it’s advisable to consult with your accountant or HMRC for guidance.
Where do I need to submit my VAT return?
You can submit your VAT return online to the HMRC using the government UK site. Alternatively, you can submit your VAT return via post.
We support over 36,000 businesses a year
Do HMRC have a monthly payment option?
You may be able to request a ‘Time to Pay‘ arrangement with HMRC, but only if you prove that you are fully unable to afford your bill. However, qualifying for this scheme can be an indicator of insolvency. It’s possible that HMRC will seek to investigate the state of your business as a result. This option is only available to businesses who meet the criteria and using it could put your businesses in a negative light.
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