Continual investment in research and development is crucial to businesses if they are to remain competitive – and this requires a constant injection of cash.
The UK Government’s R&D Tax Credit scheme encourages and rewards both SME’s and large companies for investing in innovation. It offers a vital means to cut costs and improve cash flow, whilst keeping ahead of the competition.
The scheme is one of the most attractive in the world and a company can claim retrospectively for up to 2 previous accounting years. The average SME claim in 2016 was over £53,000.
However, as businesses can wait up to six months to receive payment from HMRC, this delay can put this funding out of reach for many of the businesses that stand to benefit most.
To help businesses bridge the funding gap that prevents them continuing to grow their business whilst waiting for their R&D tax claim to be repaid, MSC R&D are now partnering with an organisation who are offering cash advances of up to 70% against R&D Tax Credit claims.
This Research & Development Advance (RDA) service currently funds advances upward of £50,000. This bridging finance enables organisations to use their pending R&D tax credit, based on two years’ successful claims, to raise funds and receive the vital cash they need to continue their R&D programmes.
Funding can be up to 6 months before year end and requires no Personal Guarantees. The loan period will range from 6-12 months depending when taken out, with interest rates from1% per month.
Pre- and post-revenue businesses are accepted as long as the quality of the previous claims is acceptable, and that is where it helps to use an expert advisor like MSC R&D.
MSC R&D has been helping companies successfully submit R&D Tax Credit claims since the beginning of the scheme. We ensure they are optimised and compliant with HMRC – and now we can assist in you in securing the necessary advance funding.
Contact us on 0114 230 8401 to discuss your requirements.