Hospitality business owner asks:
I've got my VAT bill due in the next week or so, and cash flow is tight. What can I do to spread it?
Acumenica answers:
We're all familiar with the 'Pay in 3' solutions that are available in the market for consumers - luckily, businesses have a similar option. For a small cost, you can now spread your VAT liability over 3 months, bringing them in line with your regular outgoings, which can help manage your cash flow a bit better. You might also find, in situations where you do have the available cash, that there might be better uses for it - your supplier might have an offer on, a new job or project might have presented itself - keeping more cash in the business can help you take advantage of these opportunities.
Remember though, that this is a short term solution. It’s important that you genuinely assess whether this is a viable solution, or just a sticking plaster.
If you want to find out more, speak to the team at Acumenica.
