Many of us like to think of the month of April contains the one day in the year where we can play a practical joke on our friends, family and work colleagues and get away with it because it’s April Fools Day. However, you may in fact be the one feeling like a bit of a fool when your file for a tax return brings an unpleasant surprise: you owe money you weren’t expecting, and you don’t have the money to pay the bill. So, what do you do?
Unfortunately, far too few people check their taxes and later they discover problems. Before panic sets in and there is more flapping going on than a bird with a trapped nerve, double-check your outcome. Make sure that you actually do owe money, and that you’ve taken advantage of any deductions and credits you’re entitled to. If everything checks out and you still owe money, the next step is to resolve and deal with the problem.
Like anything, ignoring a problem will only make it worse. Not only will interest and penalties start accruing on what you may owe, you could be assumed that you are trying to evade your taxes by the government.
If payment routes such as paying with your credit card, obtaining a bank loan, selling any investments you might have or borrowing from a different account are somewhat out of action or methods you would rather not use, the best way to deal with these kind of problems with tax or VAT might be to go down the alternative payment route, what with the first day of the new tax year starting on the 6th of April.
Paying any kind of bill may seem a little mundane, but the best advice is to get it over and done with and eradicate the worry or even worse, any further punishment.
Aurora Capital are funding consultants, assisting UK businesses raise the necessary capital they require to facilitate future plans in the company. We have access to 15+ different lenders in a range of different lending markets, enabling us to source the most competitive solutions for your business. Not only will we strive to source the most competitive offers, but we can advise you on the best product for your business moving forward.
Finally, try not to feel ashamed or alone. Not having enough money to pay your tax bill is not a unique problem, the trouble is relatively widespread and our alternative funding helps many business owners alike with their financial woes.
There’s no question that paying your bill is going to pain, but much like ripping off a bandage/plaster, your best bet is to face the pain and get it over with as quickly as possible for a better future.
If you would like to get in touch and find out more information on alternative funding, please call the team on 01371 870 815 or email email@example.com– we’re more than happy to help!