Filing for R&D grants can be a daunting and tricky subject to navigate without a specialist on hand – there are so many questions to be answered and lots to consider. That’s where we come in! Amongst many, one of the questions we often receive is ‘is my R&D grant taxable?’. Well, the answer is, […]
Profound investment in ground-breaking technology such as AI and 5G are predicted to break through into the Technology markets in 2022. R&D investment by organizations will define and shape our modern society, to help businesses reconnect with partners and consumers in the future. It has been suggested by Gartner, that by 2023, 75% of organizations […]
Today is World Tourism Day! Tourism is a vital part of the UK’s economy, generating £106 billion annually and providing 2.6 million jobs. By 2025, UK’s Tourism industry is expected to be worth over £257bn, becoming 10% of the UK GDP. Technology across industries has evolved hugely over the last decade, including in the Tourism […]
The UK government has announced that the Department for Business Energy and Industrial Strategy (BEIS) will receive the largest ever R&D budget of £39.8bn through to 2025. The innovation budget aims to propel the UK into a “science-superpower” status in the global market, to improve R&D spending across the board in the UK. The budget […]
A new £375 million scheme to drive investment in innovative forms of the future is now open for applications. The scheme called Future Fund: Breakthrough aims to drive growth in the UK’s most innovative and R&D intense companies, to supercharge the UK’s post-pandemic economy. The UK is looking to position itself as a scientific superpower, […]
The health supplement industry is growing at an ever-increasing rate, and consequently, we are seeing a surge in the amount of health supplement businesses. Particularly after the Covid-19 pandemic, consumers are becoming more aware of their health and well-being. This spurt of health consciousness in the UK in recent years has caused, on average, a […]
The UK’s Chancellor of the Exchequer Rishi Sunak has outlined concerns that the R&D Tax Credits scheme is not achieving the desired business investment results that it was designed to do. He is looking to redesign the scheme to boost sluggish investment and reach the UK’s innovation goals for 2050. In a recent Cambridge University […]
The R&D Tax Credits Scheme is designed to reward businesses that have invested in qualifying activities, it is a scheme that is created for limited companies only, with an aim to leverage UK businesses into the top of the world of innovation. Certain sectors claim more than others. The reason for this is because, in […]
By 2025, the UK Government plans to increase research spending from £15bn a year to £22bn propelling the UK to be a scientific leader by introducing a new Research and Development framework plan. Tackling societal challenges such as climate change and curing cancer through scientific and technological breakthroughs is at the forefront of their plans. […]
The ‘growth plan’, set out by the then Chancellor, Kwasi Kwarteng, on the 23rd of September 2022, included a number of substantial corporation tax announcements but two of these have now been reversed. On the 14th of October, the Prime Minister announced a return to the previously planned increase in the corporation tax rate to […]
Finding R&D Tax Credit examples for companies like yours when determining whether your business qualifies for the R&D Tax Credits Scheme can be challenging, so we’ve gathered R&D Tax Credit Project Examples from the childcare sector to provide a clear picture of what types of projects HMRC is looking for. Staffing training qualifies for R&D […]
The Health Care sector has always been one of the most experimental industries by nature, yet it is in need of more innovation. The Government is battling against rising costs and unsuccessful outcomes while trying to improve health and care services, so what innovations could actually help? Finding new products, services, or care pathways that […]
Company A CNC machining company near Norwich. Following a conversation with the client, we quickly identified that the company was undertaking projects that qualified under the scheme. They were regularly creating and experimenting with prototypes and have spent a significant amount of time attempting to integrate different materials to create perfect products. Uncertainty With almost […]
An unpromising increase reported in the amount of money UK businesses are spending on R&D activity is a cause for concern. This is due to the Government’s plans of increasing total investment in Research & Development to 2.4% by 2027, and with just a 0.02% rise in 2019 (1.74% overall), the Government knows that they […]
