Premium Credit has introduced an instalment solution for customers to manage tax bills during the self-assessment season.
According to the 2024 Premium Credit Tax Index, 14% of businesses have struggled to pay a tax bill in the past decade.
Premium Credit’s instalment solution offers flexible payment options for credit brokers’ customers.
By converting a large annual lump sum into manageable monthly payments, businesses can improve their performance and allocate capital to other critical areas.
Premium Credit finances tax bills ranging from £10,000 to £15m, accommodating businesses of various sizes.
Monthly repayment options are available over six, 10, or 12 months, with a three-month term for VAT in line with the next VAT payment.
Premium Credit pays HMRC directly or provides reimbursement if the client has already paid.
No personal guarantees are needed for amounts up to £150,000, and funding is always unsecured.
The service offers nationwide coverage, competitive pricing, and commissions available for approved credit brokers.
Karl Leitelmayer (pictured), sales director of Premium Credit Specialist Lending, said: “Spreading the cost of tax bills over a year for a small fee helps companies and directors to plan more efficiently and avoid any risk of fines or penalties, which can be crippling for a business already struggling to meet its tax obligations.
“The self-assessment payment window is about to close for many, so it’s important to act now.”
