At V4B Business Finance we get to work with some truly fascinating people and professions. In this case, we were able to help a team of digital imaging technicians. If we are honest, we didn’t actually know what that meant but it turns out, these are the men and women who help make movie magic all over the world. We were able to help their business with our VAT payment service.
During the past few years, the Covid pandemic has shut down a lot of television and movie filming all over the world. Now with everything opening back up and people starting to make movies again, the business wanted to spread their VAT payment to help smooth their cash flow.
A VAT loan was able to help the business spread costs, allowing for simple monthly payments. This is particularly handy for businesses like digital imaging technicians that can have peaks and troughs in their revenue as they move from one contract to another. Plus, it helps smooth out seasonal lulls like Christmas.
VAT Loans For Business
Our experts were able to arrange a payment of over £80,000 that covered the VAT bill for the digital imaging technicians. This was paid directly to the Government allowing everyone at the business to focus on what they do best and helping keep money in their bank account longer.
The particular financing we arranged for them also comes with some perks. It is a revolving credit line so the business is able to take advantage of the same financing for its next VAT bill, as well as corporation tax bill, self-assessment tax or insurance premiums. Plus there are no fees or no personal guarantees available.
Results
The £80,000 loan allowed the business to focus its budgets and energy on completing current projects and winning new business. This led to them finishing a number of lucrative contracts while improving their credit capacity and growing the business. Plus the revolving credit agreement means they will have a loan ready should they ever need help with a future VAT bill.
This also meant the company was able to smooth its cash flow which allows for greater flexibility to tackle unexpected expenses or investments.
Takeaways
Tax time can be a stressful period for businesses because they may have a large sum of money leaving their accounts all at once. Our loans can spread that burden over 3 or more months, depending on the specific loan requirement. This allows corporations to spread their costs over a more manageable period while ironing out the peaks and troughs in their yearly cash flow.
Breaking your tax into more manageable payments can also help you invest in other areas like technology or purchasing another business. Plus having more money in the bank means you are able to better handle any issues that may arise.
If your company has been putting off growth or investment because of concerns about tax bills, contact V4B Business Finance today. We can find you the right loan with payments you can afford at a great rate.
At V4B Business Finance we can also offer loans to help your firm buy new equipment, upgrade your IT or refurbish your current premises. This allows your business to retain its own money for longer so it can invest in staff or new projects.
What would you purchase for your firm if you could unlock the money straight away?
- Fast access to funds
- Flexible payment options
- Dedicated account managers
- Smooth your cash flow
- No arrangement fees
- Tax relief on interest element
