What are Corporation Tax Loans?
Corporation Tax is generally due 9 months after the end of your financial year for a private company and 6 months for a public company. For example, a private company incorporated on 01 January 2020 with an account reference date of 31 January has until midnight on 01 October 2021 (21 months from the date of incorporation) to deliver its accounts.
We offer short-term Corporation Tax Loans for companies with taxable profits of up to £1.5 million. Companies with taxable profits of more than £1.5 million pay Corporation Tax direct to HMRC (for details www.gov.uk/pay-corporation-tax).
Your Corporation Tax Bill can be paid directly to HMRC with flexible repayment options between 3 and 12 monthly installments.
Benefits of a Corporation Tax Loan for your business
- Brings your Corporation tax in line with your monthly expenditure
- HMRC paid directly
- No personal guarantees
- Improves business cashflow
- Utilises funds to pay off more expensive bills, expenses and debts
- Seamless renewal process for future bills
- Loan repaid before the next return is due
- No arrangement fees and competitive rates