Creative Tax relief loan

Creative UK are offering a new short-term loan to help creative companies affected by the delays in R&D and Video Games Tax Relief.

This loan predominantly relates to cash and the timing of payments by HMRC. Creative UK are furthering their support by launching a bespoke Creative Tax Relief Loan – a bridging loan product to help you manage your short term cashflow needs. This can be secured against future R&D tax credits and future Video Games tax credit payments.

What is a Creative Tax Relief Loan?

A Creative Tax Relief Loan is a type of loan that uses your future R&D and Games tax credit payments (from HMRC) as security. You first need to qualify for an R&D or Games tax credit and your application will need to be approved by a tax specialist.

The main benefit of a Creative Tax Relief Loan is that you can access funds within 17 days of your first conversation with the Creative UK Investment team. This is helpful because, by contrast, you could be waiting many months before you receive your tax credit from HMRC. 

Eligibility Criteria

To be eligible, you should be able to answer ‘yes’ to the below questions:

Was your R&D or video games tax relief report and CT600 tax return prepared by a tax return specialist?
Has that specialist over 2 years of trading history?
Has the payment of your anticipated tax credit been assigned to the tax adviser?
Has your tax return been filed or is it due to be filed in the coming weeks?
Are you a UK registered company operating in the Creative Industries?
Do you have at least one year of accounts filed at Companies House?