Image by Marcin Nowak

GOVERNMENT BACKED FUNDING

Support from HM Government

Through the British Business Bank and other Government initiatives, there is support for business.  The Recovery Loan Scheme is live until June 2022 and will hopefully be extended.  If not another initiative will take its place,  There is also support by way of Government backed loan funds, start up loans, R&D tax credits, capital allowances and grants

 
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RECOVERY LOAN SCHEME

Loans Backed By A Government Guarantee

How it works

The Recovery Loan Scheme (RLS) is available through lenders accredited by the British Business Bank.  The government provides the lender with a guarantee of 70% of the loan.  The borrower is 100% responsible for the debt.

Please note: A key aim of the Recovery Loan Scheme is to improve the terms on offer to you, but if a lender can offer you the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, they should do so.

We have access to a range of lenders providing differing types of finance. 


Types of finance

A lender can provide up to £2 million as one of the following facilities:

  • Term loan

  • Overdraft

  • Invoice finance

  • Asset finance

Guarantees

RLS gives the lender a government-backed guarantee against the outstanding balance of the facility. As the borrower, you are always 100% liable for the debt.

If you’re borrowing £250,000 or less

The lender won’t take any form of personal guarantee.

If you’re borrowing more than £250,000

The lender has the discretion to decide whether to take personal guarantees. However:

  • above £250,000, the maximum amount that can be covered under RLS is capped at a maximum of 20% of the outstanding balance of the RLS facility after the proceeds of business assets have been applied

  • no personal guarantees can be held over Principal Private Residences

Contact us for more Information or to apply.

Startup Team

START UP LOANS

Helping You to Fund Your Start Up

For businesses under 3 years old, start or grow your own business.

  • Borrow up to £25,000

  • Fixed interest rate of 6% per annum (per year)

  • Repay over a term of 1–5 years

  • 12 months of free mentoring

  • Government-backed

The Start Up Loans programme is funded by the Department for Business, Energy and Industrial Strategy (BEIS) and is delivered by The Start Up Loans Company (SULCo), a subsidiary of the British Business Bank.

It aims to encourage entrepreneurship in the UK, increase the rate of business creation and improve survival prospects.  We are happy to help you.

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REGIONAL LOAN SCHEMES

Government Backed Funding To Support Business

Funds such as the Norther Powerhouse and Finance Wales are Government funded and set up to boost the economies in their areas. These funds aims are to grow jobs, invest in skills, innovation, transport & culture.  Funding tends to be on an unsecured basis or secured by business assets.  Directors guarantees are not normally taken.  There are a range of funding products and regional funds to consider.  We are happy to help you with your proposal and to make introductions to the best suited funder for you.

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RESEARCH &DEVELOPMENT TAX CREDITS, CAPITAL ALLOWANCES AND GRANTS

Funds such as the Norther Powerhouse are Government funded and set up to

We help uncover the hidden value in your business or commercial property,
through Capital Allowances, Research & Development Tax Credits, Remediation of Contaminated Land, and the Patent Box tax reliefs.

What is Capital Allowances tax relief?

Capital Allowances tax relief offsets the hidden expenditure in your commercial property. Typically, this includes elements such as air conditioning, wiring, heating, lighting and security systems – essentially everything that would remain in the building if you tipped it upside down!

All commercial property owners who are UK taxpayers may be eligible to claim Capital Allowances tax relief. Your eligibility depends on several criteria, and assessing this is complicated; however, we can take this stress off your hands. Our team of experts are here to help you determine if you have unused allowances hiding in your property – just give us a call!

What is Research & Development 
tax relief?

Research and Development (R&D) tax relief is awarded to businesses that invest in innovation. This innovation can be in the form of developing new systems, processes, products, materials, devices, or any changes to the way your business works.

The chances are your business is doing R&D without even realising – it’s not just for people in white lab coats!

Our team are experts in R&D legislation. We will determine if your activities are eligible for tax relief and if so, we’ll get you the best possible return.

What is the Patent Box?

The Patent Box tax relief is the Government’s way of rewarding companies that are driving innovation. The aim is to encourage the development of new patented inventions in the UK. If your company is making a profit on your patented inventions, you will be eligible for a lower effective corporation tax rate of 10% on your relevant profits. This will save your company money and allow you to invest in future innovation.

If you are eligible for the Patent Box tax relief, it is likely that you are also eligible for R&D tax relief. Our team of experts are here to help – just give us a call!

What is Remediation of Contaminated Land Tax Relief?

Land and property owners, including leases granted of at least seven years in length, or those with at least seven years left to run on an assigned lease, may claim this relief for expenditure incurred on removing or treating contaminants in the land or property, such as asbestos, radon and Japanese Knotweed, or for bringing land that has been derelict for a long time back into use.

The relief is to encourage the use of brownfield sites and to allow additional relief for the costs incurred in dealing with harmful substances to make land and property safer for humans, animals or for the building itself.

The relief is available for those owning the land and property for their business, or property developers where the land is held as stock, but the relief cannot be claimed by the original polluter.

The relief provides an enhanced deduction for tax for certain qualifying costs, reducing a company’s tax bill or creating a cash receipt for loss making companies. A claim can be made within two years of the end of an Accounting Period.

Grants Services

Helping your business to identify, apply for and manage grant funded projects. 
Any business investing time and resources into innovative R&D in the UK has the ability to apply for and access UK/EU grant funding.
Our partners already support thousands of businesses with their applications and claims under the HMRC R&D tax credit scheme.
Through their grant writers and R&D technical experts, they offer a grant writing service - supporting you at every step of the way in the development, creation and submission of your grant application, helping to secure funding that fast-tracks and brings to market your innovative new technologies, products, processes or services.