UK-based Investec Asset Finance has launched a new loan product to fund corporation tax bills.
Businesses taking this loan, would be able to pay their corporation tax bill through fixed periodical payments, instead of paying outright with cash or an overdraft.
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Mike Francis, head of asset finance at Investec, said: "In each of the last two years the total amount of Corporation Tax paid in the UK was approximately £42bn and often represents companies’ largest single bill of the year. This product presents Investec and its brokers with a significant opportunity to provide additional support to UK businesses."
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