Many professionals Struggle to pay Tax in July
All professions have cash flow issues, just like the majority of companies.
They have difficulty paying their VAT, Their Corporation Tax and Income Tax, as well as their professional indemnity insurance and Practice Certificates. They also might need finance to pay for working capital and IT systems and software.
There is now a funder that will give loans to the professions of between £10,000 and £1,000,000, depending on loan requirement. VAT loans are over 3 months and professional indemnity insurance loans are over 12 months or less.
The professions covered include, Solicitors, Accountants, Architects, Barristers, Doctors, Vets, Surveyors, Dentists, Opticians, Pharmacists, Osteopaths and Chiropractors. If they belong to their main professional body such as the Law Society, RIBA, Medical Council etc, then they can apply.