It may be possible to get a R&D Tax Credit Loan or Creative Industry Tax Credit Loan if your business is due a research and development tax relief refund from HMRC.
Get access to funding straight away without waiting for HMRC to pay your claim which can take months. We can arrange short term stop gap finance for between 1 and 12 months. Some of our loan solutions have flexible and penalty free repayment options, which can help when you don’t know exactly when your tax claim will be settled.
We can help with:
- R&D Tax Credit Loans
- Creative Industry Tax Relief Loans
- Fast Access To Tax Refunds
How To Get Finance Against an R&D or Creative Industry Tax Credit?
When making a Research and Development tax claim with HMRC, this can be slow and you may be due a large refund. The scheme allows companies to claim up to a 230% deduction against qualifying costs from their yearly profit. This can sometimes result in a tax credit that can be repaid to the company from HMRC.
If your company is in this position and is expecting to get an R&D (or Creative Industry) tax credit, then you could borrow money against this. This would be in the form of a short term business loan, usually up to 12 months. Then when the tax credit is paid, the loan is repaid minus any fees or interest.
Typical features of an RD Tax Credit Loan
- Terms from 1 to 12 months
- Fast Acceptance – As little as 24h
- Recovery directly from HMRC
- Up to 100% of Claim Amount
- Flexible Repayment Terms
We work with a number of specialist funders who will fund either against your existing tax credit application or apply on your behalf.
So no matter which stage you are at, we can assist with sourcing funding and applying.
How To Apply For an R&D Tax Credit Loan?
One of our finance brokers will take details of your R&D tax claim and business, then arrange a finance offer from one of our lenders.
The process looks like this:
- Complete a fact find with information gathered about your claim and current business circumstances.
- Provide required documents, such as 6 months business bank statements
- We will then apply with one or more or our funders for the required finance
- Lender offer(s) presented back
- Finance paperwork completed and loan paid out
This can potentially be completed within 24 – 48 hours.
How Does an R&D Tax Claim Work?
If you are a UK based small or medium sized enterprise (SME), you can claim R&D tax relief relief if you meet the following criteria:
- Less than 500 staff
- Turnover under €100 million or a balance sheet under €86 million
- Spent money on work that qualifies for R&D relief
You can find further details on gov.uk website.
Apply For An R&D Tax Credit Loan Today
As an independent business finance brokers, we can apply for an R&D Tax Credit Loan on your behalf.
We have a number of specialist lenders on our panel that will provide this type of funding.
You can give us a call to discuss on 0161 5469128 or fill in the form below and one of our advisors will be in touch.