R&D funding and support
Explore funding for your research and development
Developing a new product, process or technology? Wize Finance can help you explore funding and specialist support for your research and development. That may include innovation grants, support with an R&D tax-relief claim, finance for project costs or borrowing against an expected R&D payment.
Tell us what you’re developing, how far the work has progressed and when you need the money. We’ll discuss the relevant routes and an appropriate specialist referral.
Different support for different stages
R&D funding can address several needs. Finding money to carry out the work is different from claiming tax relief on qualifying expenditure or borrowing while you wait for a payment.
| Your situation | A route to explore through Wize Finance |
|---|---|
| You need funding to develop or test an innovation | Innovation grants and other funding for the project |
| You’ve incurred R&D costs and need help understanding a claim | Specialist R&D tax-relief assessment and claim support |
| You expect an R&D tax-relief payment and need cash sooner | R&D advance funding |
| A grant covers only part of the work, or pays after you spend | Funding for your contribution or the gap before payment |
Innovation grants and funding for the work
An innovation grant may contribute towards an eligible project. Opportunities have their own objectives, application requirements and assessment criteria. A project being innovative does not, by itself, mean it will receive an award.
Wize Finance can refer you for relevant grant matching and specialist application support. We can also discuss borrowing or other funding alongside a grant, taking account of your project budget, contribution and cash-flow needs.
Related page: Innovation Grants.
Support with R&D tax credits and relief claims
If your company has incurred research and development costs, a specialist can assess whether the activity and expenditure meet the applicable tax-relief rules. R&D tax relief is available only to companies within the charge to UK Corporation Tax. Developing something new for your business does not automatically make the work eligible.
Through Wize Finance, you can explore a referral for specialist assessment and claim support. The specialist can explain the evidence required, the work involved and any fees before you proceed. HMRC assesses claims and may ask for further information.
Tax relief can affect a company’s tax position and, where the rules allow, result in a payment. It should not be treated as a guaranteed cash refund. The specialist handles the tax assessment and advice relevant to your claim.
R&D advance funding
An R&D advance is borrowing linked to an expected tax-relief payment. It may help with cash flow while the company waits for that payment, but it has its own costs and repayment obligations.
The finance provider assesses the business, the claim and the expected payment. Before accepting an offer, understand what happens if HMRC delays, reduces or does not pay the expected amount, including how the borrowing would then be repaid.
What to have ready
You do not need to decide which route fits before contacting us.
R&D funding questions
Can Wize Finance help if we haven’t made an R&D claim before?
Yes. Tell us about your work and we can discuss an appropriate referral for specialist assessment. Eligibility depends on the activity, expenditure and applicable rules.
If this is your company’s first claim, or it has not claimed recently, check the claim-notification requirements early. Where notification is required, the notification window ends six months after the end of the period of account. The specialist can confirm whether this applies to your claim.
Do we need to wait for a tax claim before discussing funding?
No. Funding for the work itself is a different need from an advance against an expected tax payment. We can discuss your project and its stage before identifying relevant routes.
Can grants and R&D tax relief be considered together?
They may both be relevant, but the interaction depends on the project and applicable rules. Tell us about any funding already awarded so the relevant specialists can assess the position.
How Wize Finance helps
Start with your project and funding need. Our team reviews the enquiry, discusses your circumstances and, where appropriate, introduces you to a relevant funding provider or specialist. They assess the application or claim and explain the next steps.
Discuss your R&D plans
Whether you’re planning the work, preparing a claim or waiting for a payment, tell us where you are now. We can help you explore the funding and support relevant to that stage.