Headline maximum£1 million Annual Investment Allowance
Open to a solo founder4Loan, Tax relief
Application windowOpen for applicationsThe Start Up Loans page is taking applications and shows no closing date. The tax schemes have no application rounds.
Why the headline figure is out of reach: It is a tax deduction on equipment you buy, not money paid to you. To use all of it you would have to spend £1 million on plant and machinery in one accounting period.
What a solo founder can apply for in these programsAmounts and conditions are quoted from the official pages
Loan
Start Up Loan
£500 to £25,000 at a fixed 7.5% a year
A government-backed unsecured personal loan, repaid over 1 to 5 years. You must live in the UK, be 18 or over, pass a credit check, and have (or plan to start) a UK-based business that has been fully trading for less than 5 years. Successful applicants get up to 12 months of free mentoring. Source
Tax relief
Annual Investment Allowance
Deduct the cost of most plant and machinery, up to £1 million
Available to sole traders, partnerships and limited companies. You can only claim in the period you bought the item. Source
Tax relief
Seed Enterprise Investment Scheme
Raise up to £250,000 from investors who get tax relief
Limited companies only: investors buy new shares in your company, so this is investment, not a grant. The company must be established in the UK, carry out a new qualifying trade, and follow the scheme rules for at least 3 years. Source
Tax relief
R&D tax relief
Tax relief for projects that seek an advance in science or technology
Only companies chargeable to UK Corporation Tax can qualify, so a sole trader cannot claim. Source
How to applyAs stated on the official pages
Start Up Loan: apply on the Start Up Loans website linked from GOV.UK. There is no application fee, and you get free support to write your business plan.
Eligibility conditions
The Start Up Loan is a personal loan: it must be repaid and depends on a credit check.
The Seed Enterprise Investment Scheme and R&D tax relief are for companies only.
The Annual Investment Allowance only helps if you buy plant and machinery.
Applications and source
Status
The Start Up Loans page is taking applications and shows no closing date. The tax schemes have no application rounds.