R&D Tax Credits: When do I get my Money?
Share on facebook
Share on twitter
Share on linkedin

How Long Before I Receive My R&D Tax Credits?

HMRC aims to process 95% of R&D Tax Credits claims within 28 days. However, it can take up to 100 days to get your money. Exactly how long it takes depends on a range of factors like HMRC’s capacity and the time of year. 

HMRC aims to process R&D Tax Credits claims within 28 days.

However, in our experience, processing times range from anywhere between 28 and 90 days.

It then takes another five to ten days for the money to be transferred into your account.

In total, it can take up to 100 days to receive your R&D Tax Credits.

R&D Tax Credits processing times

TC How Far Back Graphic 2

As this diagram shows, there’s a lot of variation in processing times, and that’s assuming your application is successful. 

The problem is HMRC has limited resources to process claims. Backlogs can quickly form during busy periods, which take a while to resolve. 

Also, as HMRC recently reported, the total number of R&D Tax Credits claims is increasing. 

This is putting more strain on the organisation and contributing to increasing turnaround times.

Other factors

Other factors can lengthen your application’s processing time, particularly the time of year and the complexity of your claim.

Time of year

December and March are popular times for financial year-ends.

HMRC has a lot more applications and tax filings to deal with during this time.

So, if you file during these months, you will probably have to wait longer for your funding. 

Complexity

Your application can also take longer to process if your business and/or your claim are particularly complex.

For this reason, it usually takes HMRC more time to process claims from larger companies, like those applying for the RDEC scheme.

Get your tax credits early

In summary, you could be waiting a while for your R&D Tax Credits. 

But through GrantTree’s Advance Funding service, we could advance you up to 80% of your claim size up to six months before your filing date. 

That means you could get your money up to almost a year early.

Through Advance Funding, you could accelerate your investments in staff and equipment and bring your product or service to market sooner.

The Ultimate Guide to R&D Tax Credits

GrantTree’s Ultimate Guide to R&D Tax Credits offers step-by-step instructions for preparing a maximised, compliant claim. Download it below.