Back in January this year, in a move that may have gone unnoticed by many, HMRC had to stop accepting payment of tax liabilities via personal credit cards. The change was driven by an EU directive, as a public body HMRC is unable to absorb the cost of personal credit card fees as this would ultimately mean charging the fees back to customers through the public purse.
Whilst businesses will continue to be able to make payments using corporate, business, commercial, and debits cards the impact on some small businesses could come at a cost.
Many businesses continue to suffer cashflow issues, often caused by onerous payment terms and late payment of invoices and as a result ‘compelling events’ such as the payment of HMRC liabilities can tip a business over the edge.
At Inksmoor Finance Group we offer a range of innovative cashflow finance solutions, ranging from traditional spot factoring, full factoring and outsourced credit control.
In utilising one of our flexible and transparently priced working capital facilities a business is able to plan for compelling events such as the payment of HMRC liabilities, ensuring it is able to meet its liabilities as they fall due and at the same time providing the Directors with peace of mind.
If you are a commercial finance broker wanting to know more about Inksmoor Finance Group and how our innovative working capital solutions can help you help your clients then please get in touch with me on 07376139568 and/or email me – [email protected].