R&D tax credit loan

Quick facts

An R&D tax credit loan is a newer type of loan that uses your future R&D tax credit payments (from HMRC) as security. You first need to qualify for an R&D tax credit and you have to spend the money on research and development.

There are a growing number of finance providers who might advance funds to you against your R&D tax credit claim. It follows that you first need to qualify for an R&D tax credit before you can access an R&D tax credit loan. These loans are sometimes referred to as R&D advances.

The main benefit of an R&D tax credit loan is that you can access funds within a week of your first conversation with the lender. This is helpful because, by contrast, you could be waiting many months before you receive your tax credit from HMRC. 

While R&D tax credits – either SME R&D tax credits or Research and Development Expenditure Credit (RDEC) tax credits – are a great way of funding your business and getting expenditure back in the form of a tax credit, you might not see the money for up to two years. This is because you have to wait until the end of your company’s financial year before you can prepare your accounts and file for the credit. You then have to wait an extra 6-12 weeks (often up to 12 months) while HMRC processes your claim before (hopefully) paying your R&D tax credit. 

With an R&D tax credit loan, you don’t have to wait for HMRC. Like any loan, however, you have to pay interest and you might have to pay a fee.

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Disclaimer: Swoop Finance helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans or other finance products ourselves. We can introduce you to a panel of lenders, equity funds and grant agencies. Whichever lender you choose we may receive commission from them (either a fixed fee of fixed % of the amount you receive) and different lenders pay different rates. For certain lenders, we do have influence over the interest rate, and this can impact the amount you pay under the agreement. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Swoop Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. Swoop Finance Limited is registered with the Financial Conduct Authority as an Account Information Services Provider (reference number 833145). Swoop Finance Limited is authorised as a credit broker under FCA registration number 936513. If you feel you have a complaint, please read our complaints section highlighted above and also contained within our terms and conditions. Swoop Finance Ltd is registered with Companies House (company number 11163382, registered address The Stable Yard, Vicarage Road, Stony Stratford, Milton Keynes MK11 1BN). VAT number: 300080279

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