Secured loan as tax return day approaches?
23/01/2007The January 31st tax deadline is fast approaching - and industry figures are encouraging borrowers to consider taking out a secured loan if they need extra funds to cover their tax bill.
Brits that miss the last day deadline will be liable to a £100 fine. Over 900,000 consumers failed to return their tax forms by the cut-off date last year, according to HM Revenue and Customs.
And Tim Moss, head of loans at price comparison site Moneysupermarket.com, says that he thinks it is a good idea that people consider personal loans when struggling with their tax return repayments.
"I don't see why not, I think its fine," Mr Moss replied when asked whether he thought it was responsible lending to give someone money in order to pay their tax bill.
"But as long as it over the short term. People lend money for holidays, why not for tax returns?" the Moneysupermarket.com chief asked.
 © Adfero Ltd
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