Are you prepared for the pension savings annual allowance changes? Braemar Finance explains how it could help.
With tax bills about to arrive, there are finance options available to both individuals and businesses to help spread the cost of any tax liability. And never has this been more important because following amendments to the pension rules, tax payments could be on the rise for independent practitioners.
Changes in the pension savings annual allowance rules mean some people could see an extra £20k added to their tax bill – the message is that consultants and other professionals need to prepare early and expect higher tax payments.
Tax loan specialists, Braemar Finance, has an established product that allows professionals and business owners to take control of their cash flow through manageable monthly payments.
‘Our non-secured tax loans give you the option of spreading the cost of your tax demand into more affordable monthly payments,’ explained Aileen Boyle, managing director, Braemar Finance. ‘We have found that this time of year can be incredibly stressful for business owners because no-one enjoys the thought of having to deal with the impact that paying out a lump sum to HMRC has on a firm’s cashflow.
‘Because we understand our clients’ concerns, the Braemar Finance tax loan was designed to help business owners avoid any HMRC penalties and daily interest charges for late submission.
‘We fund personal, business, corporation, capital gains and cross over tax demands and will consider consolidation of existing agreements. With flexible repayment terms and fixed monthly payments, the payment can be made directly to HMRC or your bank account by electronic faster payment.
‘The application process is very simple – tell us the amount of your tax bill and the term you would prefer. We will tailor the tax loan to suit your circumstances with fixed payments over the agreed repayment period.’
Benefits of a tax loan
- Control of cash flow
- Fixed monthly payments
- Flexible repayment terms
- Electronic faster payment
- Protects existing bank facilities
- Quick and simple to arrange
- HMRC receive payment on time.
Whether you need funding for this expense immediately or in the future we can help. Simply contact us by one of the methods below to discuss your needs.