Future funds do not impact R&D tax claims.
What is The Future Fund?
The Future Fund, announced by the British Business Bank on 20th April 2020 , is a scheme issuing convertible loans between £125,000 and £5 million to innovative companies that are negatively impacted due to Coronavirus. This is aimed at those companies that have now had trouble finding equity investment and are unable to access other government loans due to being pre revenue or loss making.
What is the impact of future funds on R&D tax claims?
Future Funds are not considered state aid, so there is no impact to your R&D tax claim.
This means as an SME company, spending this money on R&D projects still qualifies for R&D Tax Credits – attracting up to 33.35p for every £1 on R&D tax credits.
Want to claim from your Future Fund? RDvault is an expert, up to date with the latest happenings and changes at HMRC. Get in touch if you need more information.