R&D tax credits & venture capital: understanding the risk

This downloadable report examines an often overlooked downside of R&D tax credits for venture capital firms. While credits are frequently viewed as non-dilutive funding, poorly prepared claims can create wider disruption when they come under HMRC scrutiny.

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What the report covers

The report looks beyond the immediate value of an R&D tax credit and considers what can happen when a claim within an investment portfolio comes under scrutiny.

01

Impact on funding rounds

How R&D enquiries can affect a business during a funding round and introduce an issue that investors may need to understand and assess.

02

Portfolio-level risk

Why the potential exposure should not always be considered at individual company level, particularly where several portfolio businesses make R&D claims.

03

Where claims fall short

The areas that can leave an R&D tax claim more difficult to support when HMRC examines the underlying basis for it.

04

What a defensible claim looks like

What businesses and investors should expect from a robust claim that can be supported when it comes under scrutiny.

Receive the full report

Complete the form to receive our report on R&D tax credits and the potential risks for venture capital portfolios.

  • The impact of R&D enquiries on funding rounds
  • Portfolio-level exposure
  • Where R&D claims can fall short
  • What a robust and defensible claim should look like

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