V4B Business Finance loves to work with people in the medical industry. We have a long history of working with Dentists to provide them with financing. V4B Business Finance have helped people expand their businesses, afford new equipment and in the case of one particular Scottish Dental firm, spread their tax liability across the year.
This Dental practice wanted to take out a single loan in January that would cover their yearly tax due and allow them to smooth their cash flow by repaying each month. This means they retained capital within the firm so they had it on hand and ready as soon as it was needed in other areas.
This type of tax financing is a crucial tool for many companies as it allows them to spread their tax demand over a longer period to suit the income of the firm. This method can provide better budgetary control for businesses like a Dental practice which does not necessarily have £100,000 or more on hand to pay out in a single month or if the money is there to keep it for other things.
Expert Dental Loans
Our experts were able to help find the Dental practice the best loan for their needs. They had to pay approximately £76,000 for their January tax payment and another £56,000 for a July payment on account. We organised the entire facility quickly and all the Dental practice had to do was send us their latest tax computation, some accounting information and 3 months’ worth of bank statements.
The loan gave them all the money they needed immediately and they will also receive tax relief on the interest element which helps. This meant they could get back to putting smiles on their customer’s faces rather than worrying about budgeting for a large tax bill.
Results
The £132,000 loan was deposited in the Dentist’s bank account and the money was then available to them to cover their tax bill over the course of the year. This allowed the practice to pay a set amount each month on their loan while still having access to the funds they needed. Their cash flow was unaffected when it was time to pay their tax bill and they were able to continue investing in other areas without worrying about liquidity.
Takeaways
While tax loans are not the most exciting topic they are a great resource that many companies can use to improve their cash flow on an ongoing basis or invest in other areas of their business.
By breaking your tax down into simple monthly payments, you can invest in other areas like equipment or expand your business’s footprint. You can also ensure you have the money available to handle any unforeseen issues.
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 invest in another practice. 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
