27 January 2011
Law firms are searching for loans to cope with an “unprecedented” cashflow squeeze ahead of the 31 January tax deadline.
Independent finance provider, Syscap says it has received nearly £50m worth of funding requests compared to £28m last year.
Philip White, chief executive of Syscap, says: “Firms can wait months before their clients pay invoices, so the VAT increase will hit them particularly hard.”
