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£50K Interest Free Loan for 12 Months

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  • xenomorph
    replied
    Originally posted by GhostofTarbera View Post
    Not if it’s a loan


    Sent from my iPhone using Contractor UK Forum
    what do you mean?

    Leave a comment:


  • GhostofTarbera
    replied
    Originally posted by xenomorph View Post
    the whole using it to clear credit cards dont make sense
    if you take out say £8k and cleared off the cards then you would need to take it as dividends and pay income tax on it after 12 months. So you be paying back loan plus tax.
    Not if it’s a loan


    Sent from my iPhone using Contractor UK Forum

    Leave a comment:


  • PerfectStorm
    replied
    Clydesdale seem to have forgotten about my application for this. As have I, in fairness.

    Leave a comment:


  • xenomorph
    replied
    the whole using it to clear credit cards dont make sense
    if you take out say £8k and cleared off the cards then you would need to take it as dividends and pay income tax on it after 12 months. So you be paying back loan plus tax.

    Leave a comment:


  • l35kee
    replied
    Starling's was pretty quick and painless.

    Leave a comment:


  • GhostofTarbera
    replied
    Tide are struggling badly to get any loans out the door


    Sent from my iPhone using Contractor UK Forum

    Leave a comment:


  • northernladuk
    replied
    Originally posted by thethem View Post
    Ok will do - yes I do bank with them. I had taken a look and looked straight forward but wasn't sure if they were going to check accounts, projections etc.
    I'm sure the check accounts but no, they don't ask for any accompanying paperwork. Fill in the forms and it's in your back a day or two later.

    Leave a comment:


  • thethem
    replied
    Originally posted by northernladuk View Post
    Are you with Santander? If so just fill the forms in. Very simple.
    Ok will do - yes I do bank with them. I had taken a look and looked straight forward but wasn't sure if they were going to check accounts, projections etc.

    Leave a comment:


  • northernladuk
    replied
    Originally posted by thethem View Post
    Hi all, I'm currently looking into applying for a loan with Santander but as I'm in my first year trading I don't have the full year accounts. Just wondered if anyone knows what evidence Santander (or other banks) will require for processing the loan?

    Thanks in advance for any assistance.
    Are you with Santander? If so just fill the forms in. Very simple.

    Leave a comment:


  • thethem
    replied
    Loan application without first year accounts

    Hi all, I'm currently looking into applying for a loan with Santander but as I'm in my first year trading I don't have the full year accounts. Just wondered if anyone knows what evidence Santander (or other banks) will require for processing the loan?

    Thanks in advance for any assistance.

    Leave a comment:

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