Early July is the ideal time for barristers to apply for our tax bill funding facility. Many clients prefer to spread the cost of their tax bill over a set period of time which not only offers peace of mind but augments cash flow in one easy step.

Tax bill planning

Barristers may have depleted tax reserves or have utilised much of their overdraft facility to fund their practices. With the 31 July tax bill deadline fast approaching, it makes sense to consider the benefits of funding.

Vector Professions Finance are here to help you with our ever-popular aged debt funding facility for both your short and longer term funding requirements.

On reviewing your finances, it may be pertinent to consider funding tax and reducing/clearing your overdraft over a longer term to further enhance cash flow by ensuring manageable and affordable monthly instalments.

Plenty of our clients will be consolidating any late payments, their July and estimated January 2023 tax bills into a longer term facility (up to 60 months) with the knowledge that their future tax obligations have been planned for in advance. With this in mind, and funds in place, barristers can concentrate on their cases without worrying about financial issues.

Overdraft refinance

If previous/current tax bills and reduced fees during the pandemic have been funded by an overdraft, many barristers will look to refinance the overdraft via our aged debt loan product. This increases headroom for contingency planning. This option has proved to be increasingly popular as many banks have recently raised their overdraft interest rates.

The application

With over 25 years’ experience with the Bar and endorsed by the Bar Council for over ten years, we understand the complexities with which barristers are faced. Our mission is to provide fast track flexible funding with a quick and easy application process with minimal information required. We only usually require a completed online form together with confirmation from the clerks system of gross receipts and aged debt. 

Key features and benefits of an aged debt loan:
Peace of mind
Overdraft remains in tact
Term to suit budget (6-60 months)
Unsecured facility
Potentially tax efficient
Fast confidential service
Credit decisions in 48 hours
Loan to aged debt ratio 75%
What our clients say: 
‘Refreshing to deal with a company that understands barristers’
‘Such a straightforward application process’
‘So much faster than my bank’
‘Thank you for your prompt and courteous service’
‘I wish I had used your valuable service earlier’
To find out more visit: www.ageddebtfunding.co.uk or call 0845 500 1666 for a without obligation confidential discussion. Please note Vector Professions Finance does not offer tax or financial advice. Please check with your accountant or financial adviser.