Watch Collection Used to Cover a SME Tax Bill
Channel: Financial Adviser
Client: Lawyer, 61 years old, Buckinghamshire
Assets: Watch collection worth £359,250
Loan: £226,327 (63% LTV)
When a client with a tax bill requiring immediate payment approached their financial adviser to raise the funds to clear the bill, it was clear that traditional means of raising the money would not be suitable, as the bill had to be settled in two days or severe penalties would be levied against him. The client owned a watch collection including Cartier, Rolex and Patek Philippe, which he was willing to use as security for a loan.
The financial adviser recommended Suros Capital as a quick and secure method to generate the required funds. The client arranged an appointment to bring his watch collection into our London office. Suros Capital’s appraisals team assessed his collection while he waited and, within two hours, cleared funds were in the client’s bank account.
“We are delighted with the service our client received. The whole process was conducted in a professional manner, which the client appreciated. Having made his decision to go ahead, the deal was completed in a couple of hours which meant our client could pay his tax bill on time. Suros Capital really came through for us and our client and there is no doubt we shall be recommending them again.”
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We are a specialist lending company providing loans secured against luxury assets. The group we are part of has lent over £200 million against luxury assets since 2010, and we are funded by Crestline Investors, Inc.(‘Crestline’), an institutional alternative asset manager.
© 2023 Suros Capital – all rights reserved. Suros Capital is a trading name of Hopkins & Jones Limited who are authorised and regulated by the Financial Conduct Authority. Firm reference number 731198. Hopkins & Jones Limited is registered in England under company number 433606. Registered office: 88 Fleet Street, London EC4Y 1DH. VAT number: 238 8280 37.
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© 2023 Suros Capital – all rights reserved. Suros Capital is a trading name of Hopkins & Jones Limited who are authorised and regulated by the Financial Conduct Authority. Firm reference number 731198. www.suroscapital.co.uk is a site operated by Hopkins & Jones Limited, registered in England under company number 433606. Registered office: 88 Fleet Street, London EC4Y 1DH. VAT number: 238 8280 37.