Are you working towards a December year-end? Avoid the New Year backlog with R&D advance funding and get 80% of your R&D tax relief in just a few days.
Christmas is quickly approaching. The nights are growing longer, and the days shorter. It’s time to put up the Christmas decorations and spend quality time with family and friends after a challenging year for everyone.
Despite this being a time to unwind, companies all across the country are frantically working hard to finalise their December year-end accounts. And if you’re submitting an R&D tax credit claim as well, your finance team could be working flat out well into the New Year.
Likewise, if you are a growing business reliant on tax relief for cash flow, a December year-end can cause problems.
Post-December backlog
The busiest month of the year for HMRC is post-December. Tax inspectors are overwhelmed, claims get delayed, and processing time grows.
During this period, it often takes HMRC three months or more to send you the credits after submitting a claim. This is a problem for many small businesses that rely on tax relief to plan, reinvest, and develop.
However, there is a solution to those impending January blues. R&D advance funding allows you to get up to 80% of your future R&D tax credits months before HMRC pays them out.
R&D advance funding
With our R&D advance funding service, you can avoid the stress of HMRC’s new year backlog.
In just a matter of days, you can access 80% of your future credits, helping you plan your cash flow accordingly and reinvest funds back into your business sooner.
You can either access these funds before your year-end (up to six months) or days after submitting your claim.
It’s a simple three-step process:
- We get to know your business and advise on which of our lending partners best suits your needs.
- We run our eligibility and due diligence process ahead of a loan being offered.
- You receive up to 80% of your credit ahead of your year-end or just weeks after submitting your claim.
With this injection of cash, you not only avoid delays from HMRC, but you can also plan for the year ahead, reinvest back into your business and outpace the competition.
At EmpowerRD, our fastest claimant completed their claim and received their funds in 6 days and 2 hours. Read how we helped Voyage Control through a difficult time over Covid, allowing them to continue their R&D efforts without delay.
We maximise your claim size
We don’t just provide fast access to funds; we’ve developed a process that ensures your claim is optimised and that you receive the greatest return.
In some cases, when we see that a client’s previous advisor has mishandled their past claims, we’ll retrospectively assess their old claims. By doing this, we helped Bloom and Wild increase the credit they received from an old claim by 290%.
Whatever your claim is, our experienced and skilled claims team knows how to make the most of it. Our staff consists of former HMRC inspectors and tax R&D experts who’ve filed claims for businesses ranging from start-ups to FTSE100 organisations.
We also use an intelligent platform that compares your claim against those from our portfolio. This helps our expert team ensure that you’re claiming the correct amount for your sector and that the claim will be successful when it’s submitted.
So if you are interested in receiving R&D advance funding through EmpowerRD, we can also make sure that your R&D tax credit claim is as maximised and robust as possible.
Start your new year as you mean to go on
Using an R&D specialist like EmpowerRD could help you avoid the New Year backlog, accelerate your businesses growth, and maximise your claim.
If you’re interested in learning more about R&D advance funding or you’re looking for a specialist service, get in touch, and we’ll be happy to talk you through your options.
