Every employer running a payroll owes PAYE income tax and National Insurance to HMRC, usually monthly. Unlike a one-off cost, this is a recurring, non-negotiable obligation that arrives on the 22nd whether or not your invoices have cleared. A Credicorp facility can help a UK limited company or LLP meet a PAYE and NIC payment on time and repay over an agreed term.
Why timing causes pressure
- The PAYE deadline is fixed; client payment dates are not.
- Missing it risks interest, penalties and a damaged HMRC record.
- Employee trust depends on the wider payroll machinery running smoothly.
Using a facility responsibly
Funding payroll taxes works best as a bridge across a clear timing gap, not as a way to prop up a payroll the business cannot sustain. If we approve your application, you draw the funds, pay HMRC and repay on the schedule and rate shown in your offer.
What to remember
The loan is to the company, with no director personal guarantee. Credicorp is an exempt business lender, so this facility is not covered by the Financial Ombudsman Service or FSCS. If PAYE pressure is recurring rather than occasional, speak to your accountant about the structural cause before borrowing again.
See also: Funding monthly payroll when receipts are delayed, Funding for trades businesses run through a limited company and Funding payroll between customer payments.