Whilst this is a fairly swift task, we're going to be making it as easy as possible for you to know when things need to be provided with lots of advance notice and give you an easy way in the platform to share your quarterly update in just a few clicks. The plan is for this to be live for next quarter.
Why are we doing this?
As a lender lending to hundreds of recruitment businesses, it's important that we understand the overall financial health of our customers and suppliers. This is a common requirement for most invoice finance lenders, and one that we have considered in our terms with you (but not yet asked for since onboarding you).
Businesses often have ongoing VAT and PAYE liabilities and 'time-to-pay' arrangements with HMRC, this is perfectly normal. For those with large liabilities, we'll just want to understand things so we're all on the same page.
What do I need to do?
1. Log in to HMRC Online
Go to GOV.UK → HMRC Online Services
Sign in using your Government Gateway / One Login details
2. VAT Statement (if VAT registered)
Navigate to VAT
Click on “Manage Your VAT”
Take a screenshot (as per the sample given below) showing:
VAT registration number
VAT status
Any payments due
Next return due
3. PAYE Statement
Navigate to PAYE for Employers
Take a screenshot showing:
PAYE reference
Any overdue submissions or balances
3. Save & Upload
Save screenshots as image or PDF files
Log in to the Raise Platform and upload the files using either the on-screen upload prompt or by navigating to Settings → Account → HMRC Statement.
Any questions - jump on chat or pop us an email. We're here to help.