How to get your R&D money, faster
What’s Inside?
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Yep, we’ve cut right to the chase. You don’t always want to be told step-by-step how to do something, but in fact the fastest way to get it done.
Sometimes you’ll be eligible for the Research & Development Tax Incentive (or RDTI for short), but you just can’t afford to wait for the next tax cycle. If this is where you are at – it’s worth considering R&D financing (aka R&D lending or forward funding). Let’s get stuck into what it is and how/where you can get it.
2. Dates you need to know
Like any good tax system, there are set dates to abide by. Registration of your eligible activities need to be made within 10 months of your income year end, so:
- Financial year ending 30th June 2024 is due 30th April 2025 (get your skates on!)
- Financial year ending 30th June 2025 is due 30th April 2026
But wait – this is for people who are ok to wait, so what about the rest of us?
3. Getting R&D financing (aka Show me the money!)
When time is of the essence, getting the cash sooner will involve specialised financiers loaning you the money against your future R&D claim. When the claim is processed, you pay them back. Simple!
Lenders can stagger the money quarterly throughout the year, or provide it in a lump sum up front based on about 80% of what you’ve already spent towards your expected full year R&D claim. We work with experts in the industry like Tractor Ventures, Kashcade, and Radium Capital, who provide non-dilutive funding for startups and scale-ups. With R&D finance, founders can continue building their product/service to reach commercialisation faster and increase their startup’s value sooner.
4. What’s next?
The RDTI can be a hugely beneficial incentive, but along with that it can be complex. Don’t worry, we have a real life expert at Standard Ledger who has helped hundreds of tech and startups companies – John Nixon, catch up with him here, he would love to help.
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