How Long Does It Take To Get A Corporation Tax Loan In Place?

How Long Does It Take To Get A Corporation Tax Loan In Place?

Obtaining a corporation tax loan can be an effective way to manage your taxes. However, how long does it take to get one in place? This is a question we always get asked here at Corporation Tax Loans. The truth is it really depends on a variety of factors. For example, the size and complexity of your company and the amount you’re looking to borrow is a major factor. A company with more trading history (3 years +) will likely receive a quicker decision than a company in its infancy. Likewise a company with a strong balance sheet will receive a decision quicker than a company showing losses.

To help get your loan approved quickly, we’d recommend not leaving an application to the last minute. Beat the rush and relieve your stresses of potential late fees. Another tip we’d recommend is having your supporting information ready prior to making an application. For Tax loans you’re likely to be asked for last 3 months company bank statements. Also the latest set of full accounts and potentially some management accounts. By having this information ready for an application, you should be able to receive a credit decision in 1 – 2 working days.

What happens next?

Upon approval the loan paperwork is sent out for signing as soon as possible. This is usually the same working day, and upon signing all paperwork is sent for activation and HMRC is then paid. This would take 1 – 2 working days roughly.

Each business is looked at on a case by case basis, to get an idea on the potential repayment costs for your corporation tax loan please visit our Corporation Tax Calculator. Alternatively for an accurate quotation please contact a member of the corporation tax loans team on 01494 611 462 or email hello@corporationtaxloans.co.uk. For more information on how long does it take to get a corporation tax loan in place?, speak to one of our team members.