Suros Capital shows way to avoid tax penalties for late payment

29 July 2026

An SME owner who deals in luxury resale of handbags was unable to meet a tax bill. They had underestimated the amount due and with the deadline of July 31st coming up imminently, had no time to arrange a short term bank overdraft or loan.

The tax bill was £65,000, which came as an unwelcome surprise. Not having time to arrange conventional funding or any ready reserves on which to draw, their financial adviser put them in touch with Suros Capital. Their stock included a collection of Hermes Birkin handbags which we valued successfully and released the £65,000 required within 24 hours, in plenty of time to meet the tax payment deadline.

Suros Capital’s Director, Ray Palmer said,

“Like this client, in our experience many people are caught out by underestimating their tax liability and then struggle to make up the difference. Fortunately, our client was referred to us by their adviser because they had luxury assets that could be used as security for our short term loan.

We would suggest that more advisers make sure that when they are factfinding, they find out about all of a client’s assets, not just savings and bricks and mortar assets. For clients faced with a sudden tax call, Suros Capital with its unique offering could be the only choice left for those who don’t want to incur penalties from HMRC for late payments.”