Tax Finance
Paying a tax bill in one large payment can be restricting for businesses and sometimes crippling for individuals, we can help.
Pegasus Finance provide flexible Tax Finance options to suit companies and individuals alike, breaking large bills down to more manageable monthly payments. Find out how a flexible tax loan may be able to help you.
“I would recommend Pegasus Finance to anyone. Professional, friendly and totally on the ball, they pulled out all the stops to make my loan happen. So happy with the service really excited…thanks guys.”
Spreading The Load
Our popular ”˜Tax Finance Options’ allow you to take control of your finances and spread a tax bill across a period, breaking it down into manageable monthly payments. Tax demands can appear in an array of formats. Be they capital gains, inheritance tax, personal of corporation tax, Pegasus Finance will have a flexible option for you.
Loan benefits
- Break large tax bills into manageable payments
- Repay over 1 to 5 years
- Borrow between £3,000 and £100,000
- Quick & simple process
Corporation Tax
The financial year end for a business often seems to come around quicker every year and along with it comes the burden of corporation tax. It’s fantastic if your business is doing well, making good profit margins, but taking funds out of your cash flow to pay your Corporation Tax bill in one large payment sometimes isn’t viable.
You must pay Corporation Tax on profits from doing business as:
- a limited company
- any foreign company with a UK branch or office
- a club, co-operative or other unincorporated association, eg a community group or sports club
Pegasus Finance offer Corporation Tax Finance options to businesses of all types, normally unsecured but depending on the size of the advance, may be secured on assets.
Questions? CALL 0800 066 2882
Our experts are always ready to help
Personal Tax
Personal Tax takes form in many different guises, whether it’s Income Tax, Capital Gains Tax or Inheritance Tax. If you find yourself with a tax bill and you’re not wishing to upset cash flow, it may be suitable to arrange a loan to pay off the bill.
Financing tax bills certainly isn’t a sensible choice for everyone but for many people it means that they can break a large one off payment into smaller monthly repayments making it more affordable. We would recommend speaking to your accountant as they will understand your personal circumstances. If you wish to investigate the cost of arranging a tax loan, why not speak to one of our advisors who will be happy to source the best value product.
Inheritance Tax
Inheritance Tax is a tax charged by HMRC on the estate (the property, money and possessions) of someone who has died, the bill falling in the lap of the person dealing with the estate (the executor).
There is normally no Inheritance Tax to pay if either:
- the value of your estate is below the £325,000 threshold
- you leave everything to your spouse or civil partner, a charity or a community amateur sports club
If you’re married or in a civil partnership and your estate is worth less than £325,000, any unused threshold can be added to your partner’s threshold when you die. This means their threshold can be as much as £650,000.
Inheritance Tax rates
The standard Inheritance Tax rate is 40%. It’s only charged on the part of your estate that’s above the £325,000 threshold.
Example; Your estate is worth £500,000. The Inheritance Tax charged will be 40% of £175,000 (£500,000 minus £325,000).
The estate can pay Inheritance Tax at a reduced rate of 36% on some assets if you leave 10% or more of the ”˜net value’ to charity in your will.
Capital Gains Tax
Quoting HMRC –
You pay Capital Gains Tax on the gain when you sell (or ”˜dispose of’):
- most personal possessions worth £6,000 or more, apart from your car, property that isn’t your main home
- your main home if you’ve let it out, used it for business or it’s very large
- shares that aren’t in an ISA or PEP
- business assets
These are known as ”˜chargeable assets’.
Depending on the asset, you may be able to reduce any tax you pay by claiming a relief.
If you dispose of an asset you jointly own with someone else, you have to pay Capital Gains Tax on your share of the gain.
In many cases Capital Gains Tax can arrive a little unexpected and can often cause a strain on personal finances.
Summary
Pegasus Finance are happy to arrange Capital Gains Tax finance, breaking the payment down into palatable monthly repayments. Offering exclusive interest rates, the cost of financing a Capital Gains Tax bill may cost you a lot less than you think.
Quick, Easy Approval
On average loans are approved within 60 minutes of submitting your details to us