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Industries That Benefit From R&D
Research and Development (R&D) isn’t just for tech giants – it’s a powerful tool for companies of all sizes and sectors. Discover how innovation can revolutionize your industry and propel you ahead of the competition.
Other sectors with qualifying R&D expenditure
There are an unlimited amount of industries with expenses that qualify for R&D tax relief, and the above list are by no means exhaustive. If you have used research and development to overcome a level of uncertainty that could not easily be worked out by a professional in your field, then you may be eligible for R&D tax credits.
Previously known as the SME scheme and the RDEC scheme, the new merged scheme for R&D supports all businesses, no matter their size, to improve their cashflow using tax incentives.
How R&D tax credit loans work
R&D tax credit loans enable you to receive your funds within days, instead of waiting weeks, sometimes months for HMRC. This can help to reduce your financial risk and allow you to put your money back into your business much sooner.
Applying for a loan with Buzz Capital is a simple process that can be completed in just four steps.
Agree
Based on the information provided, we’ll issue a term sheet for discussion and signature.
Finance
Once the term sheet is agreed, we’ll issue relevant legal documents and make payment when signed.
Repay
Our loan is repaid once HMRC has processed your tax credit claim.
R&D eligibility for qualifying costs
Before starting the application process, we advise that you check with your accountant or an R&D specialist to see if your business qualifies for the R&D tax credit scheme. It is not something that can be determined by these four facts alone but they do serve as a good indicator. Whether Buzz can use your R&D claim as collateral for a loan will be subject to further detailed due diligence.
Looked for an advance in science & technology
Had to overcome a level of uncertainty
Tried to overcome this uncertainty through R&D
Could not be easily worked out by a professional in the field
Frequently Asked Questions
Yes. The list above shows the main industries that have claimed R&D tax credit since the scheme was introduced. If you have used innovation to solve a problem in your field, no matter the industry, you can still be eligible for R&D tax credit relief.
Once we have a clear idea of how much your R&D Tax Credit is worth, we can advance you up to 80% as a cash payment directly into your bank account. You can then use the advanced cash to help your business grow; whatever way that may be.
We have a comprehensive guide here on qualifying R&D expenditure. Generally, you can claim back the costs of:
Staff
Materials
Software
Subcontracting
Externally provided workers
Clinical trial volunteers
Pure mathematics.
Days. Whilst a number of factors can influence the process, we aim to have the funds in your business account within a matter of days.
Get in touch with us today if you believe that you have contributed to research and development in your industry. Many traditional lenders are quick to dismiss most loan applications that are sent their way, but we don’t.