Supporting businesses when they need funds
Catalyst Finance is here to enable British businesses by funding their cash flow requirements. Sometimes there is a big bill to pay and our clients use us to fund that gap until money is received from their customers. Businesses in general have some flexibility in paying suppliers – they can move payment dates backwards or forwards or arrange part payments.
One major ongoing account that all businesses pay is HMRC; whether its PAYE, NI, VAT, Corporation Tax etc. Unfortunately businesses engaged in Time To Pay (TTP) arrangements with HMRC have less of that flexibility than before:
HMRC has announced that from the 3rd August 2015, it will be mandatory for all TTP arrangements to be collected by direct debit. “TTP arrangements allow HMRC to collect tax in a cost effective way. They allow viable customers who cannot pay on the due date to make payment(s) over a period that they can afford.” - HMRC
There are benefits to using direct debit, it’s secure and removes the task of making the payment or that it’s forgotten. However it reduces the flexibility in timing to make your own payment and this may be a cause of concern for some users. That’s where we can help.
Catalyst Finance has a national team of Client Account Directors helping many businesses improve their cash flow with Selective Invoice Finance, giving access to much needed cash. If you experience a squeeze on working capital, our team are able to advise on how we can help, so why not give them a call.