Report Wesleyan Mind the VAT

Mind the VAT

UK SMEs are currently owed an eye watering £26.3 billion, with almost half failing to be paid on time with the average late payment debt now standing £32,185.

As VAT must be paid irrespective of whether or not the payment’s been received, the pressure of late payments can have a devastating effect. In an unpredictable and potentially volatile business environment, there is a glimmer of hope…

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This short whitepaper looks at alternative finance solutions that ensure SME’s monthly outgoings are fixed and VAT bills are paid to coincide with HMRC’s payment schedules.

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