Paying VAT: Can I Use a Promissory Note? – WorkCapital

If you have a promissory note, there’s a solution for paying VAT

One of the most critical cash flow challenges for self-employed individuals, small and medium-sized businesses, and industries is the payment of VAT and withholding taxes imposed by the Tax Agency, which falls at the end of each quarter of the year. Meeting these types of payments is always a headache for organizations. That’s why at WorkCapital we want to offer our Promissory Note Discounting service as an effective and logical alternative for those moments when cash flow is “shaky.”

Promissory Note Discounting is a financial tool that companies can use to obtain liquidity quickly and easily. At WorkCapital, all you have to do is send a photo of the promissory note you want to discount via WhatsApp to 633 969 687, and we’ll take care of the rest. We’ll give you a response in no time, and within 24 hours, the funds can be deposited into the company’s or self-employed individual’s checking account, allowing you to meet tax payment deadlines and avoid the ever-annoying surcharges imposed by the tax authorities.

WorkCapital also specializes in other financing options, such as online factoring, advance payments against invoices, and confirming. And we handle all these options with the same speed and simplicity as when we process a promissory note. We also guarantee the utmost confidentiality in all transactions we conduct with our clients.

This alternative to promissory note discounting offers significant and varied benefits to both companies and self-employed individuals. For example, a major advantage is that it converts accounts receivable on the balance sheet into cash on hand. Furthermore, this financial resource does not increase debt on the CIRBE registry nor does it affect the company’s balance sheets. The payment capacity considered is not that of the company requesting the financing, but rather that of the issuer of the promissory note to be discounted—among other major advantages.

WorkCapital is a nationwide company specializing in working capital financing for SMEs and self-employed individuals. We are not tied to any financial institution and are free to work with whichever provider offers the best rate at any given time. We offer a wide range of financial products, including promissory note discounting and invoice advances, which make us the best financial solution for your business.

At WorkCapital, we also provide invoice advances, grant short- and long-term loans, issue guarantees for government agencies, offer equipment leasing, and manage the collection of your outstanding receivables. Our strengths are: extensive experience in the financial sector and an exceptional approach to customer service. And, of course, our values are based on four fundamental pillars: honesty, speed, efficiency, and confidentiality. Get to know us!

You can find us at www.workcapital.es and by phone at 960 50 20 24.

We look forward to hearing from you!