Happy New Year to everyone from VFS Legal Funding
2021 will bring challenges for many firms and we have already started to see a lot of M and A activity. It is now more important than ever that close attention is paid to forecasts and cashflow especially for those firms that have seen a significant drop in fee income in 2020.
The assistance provided by The Government carried many firms through last year. However, first tax quarter is looming, deferred and regular tax liabilities falling and CBIL loans will begin to be due for repayment in a couple of months. The latest Coronavirus restrictions will undoubtedly cause further delays to the legal process with an inevitable knock-on effect on collections for many firms and hence a reduction of cash flow.
The stamp duty holiday that has seen conveyancing boom ends in March and the proposed changes to the RTA portal due to come into force in April will further compound financial pressure.
Now is the time to speak to VFS Legal Funding. By releasing cash tied up in your bills, WIP, or incurred disbursements, improve your cash flow to ensure your firm starts the year off on a sound financial footing.
We provide funding for Clinical Negligence and Personal Injury, Plevin and UDC, Financial Mis-selling, Housing Disrepair, Japanese Knotweed, and Data Breach claims.
Whether it be for mergers, cash flow, expansion or just to sleep a little better at night speak to VFS by emailing email@example.com