Providing unsecured finance to cover 100% of the VAT on your commercial property purchases.
Our company trades property. The money locked-up with HMRC could have been the key to our next deal. Having recently completed on a property worth £1,500,000, the VAT bill of £300,000 meant we lost out on an auction bid.
Ready to hand cash flow ensures the next deal and the next profit. BloomSmith’s funding of our VAT leaves us free to get on and do what we do best: trade trade property.
We had been due to fit out our new vacant building in South West London as soon as we completed but the VAT cash flow meant we were forced to delay this until the VAT returned several months later.
This delayed occupation meant we had to continue paying rent, rates and service charges on the existing premises along with the costs and mortgage payments on the newly acquired building, that was left standing empty.