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, was a scheme issuing convertible loans between £125,000 and £5 million to innovative companies that were negatively impacted due to Coronavirus. This was aimed at those companies that had trouble finding equity investment and were unable to access other government loans due to pre-revenue or loss making status.
What is the impact of Future Funds on my R&D tax claims?
Future Funds are not considered state aid, so there is no impact to your R&D tax claim.
This means, for example, an SME company spending Future Fund money on R&D projects can still claim R&D tax relief on their expenditure– attracting up to 33.35p for every £1 on R&D tax credits.
The deadline for Future Fund applications closed on 31 January 2021.
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Need to claim R&D tax relief from your Future Fund expenses? At RDvault, we provide open and honest advice about your claims. With our intuitive platform and on-hand advice, we'll help you sort your R&D tax credit claims quicker than ever before. Start saving time and money with RDvault and get in touch today.
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