This past month, the Pod added a powerful new string to its bow, Tax Finance products via specialist lender Premium Credit.
And it didn’t take long to put them to work. New Orca team member Sam Wells wasted no time, closing a 3-month VAT funding deal for a Preston-based business for just under £100,000. A great first deal, Sam!
So, what is Tax Finance, and why does it matter?
Premium Credit Limited is the UK and Ireland’s leading premium finance provider, lending over £5 billion annually to more than two million customers. Alongside their core insurance financing, they offer specialist Tax and VAT Funding designed to help businesses protect their cash flow by spreading large, upfront tax liabilities into manageable monthly instalments.
Available for deal values from £10,000 to £15 million, the unsecured facility covers:
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Corporation Tax
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Self-Assessment invoices
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Quarterly VAT bills
VAT funding is typically structured over 3 months in line with regular tax cycles, while other liabilities can be spread over 6, 10 or 12 months. Premium Credit also pays HMRC directly or reimburses where a bill has already been settled, keeping working capital where it belongs: in your business.
A big thank you to Bernie McCarthy at Premium Credit Ltd it for his support with product training and helping get that first deal over the line. We’re looking forward to doing plenty more together!
