Frequently Asked Questions
Why should I consider Provisional Tax Finance?
- Provisional Tax Finance is a simple and flexible way to pay your tax with the potential to provide you with some or all the following benefits:-
- Value - we aim to offer rates which compare favourably to your Overdraft or Inland Revenue Use of Money Interest rate.
- Convenience – a Provisional Tax Finance facility will allow you to time tax payments to suit the needs of your business.
- Free up Capital – this product allows you to meet tax obligations on time while leaving cash and loan facilities free to be applied to things that really matter.
What is the cost of Tax Finance?
- A Finance Charge is payable in advance. This Finance Charge is calculated by reference to interest rates.
- This cost can be compared to your overdraft rate or the Use of Money Interest rate charged by Inland Revenue.
How long can I delay paying tax by using Tax Finance?
- Depending on your tax cycle, we can offer terms as short as 3 months and in regular intervals out to 12 months.
How much tax should I finance?
- You can finance all or just part of your upcoming tax payment. Its's up to you.
- Your accountant will help you estimate how much tax you need to pay on any provisional tax date and we will make that payment for you.
If my circumstances change, do I have to make payment at the end of my chosen term?
- The agreement with us is intended to give you maximum flexibility and you have the right but not the obligation to settle the tax. This means you can purchase all, some or none of the Tax Deposit we have financed for you. If for any reason you do not wish to purchase a Tax Deposit then you don’t have to.
How do I access Provisional Tax Finance?
- It's simple. We require no financial information nor do we need any security or guarantees. You can do it online here in just a few minutes.