According to an article by Global Ag Media, many farmers in the UK are not taking advantage of the R&D tax credit for their innovative work. The agriculture sector makes up less than 0.5% of all UK R&D claims. However, those who do make a claim receive an average refund of £52,000. Agricultural companies developing [...]
The latest HMRC figures show that Cardiff has the highest percentage of innovative activity in Wales, with 315 successful R&D tax relief claims made for the 2017-18 financial year. This amounts to 2.4% of all businesses in the area, with finance and software companies being among the top sectors investing in R&D. In Wales, figures [...]
When it comes to R&D, ‘incurred costs’ and ‘paid costs’ are two different things in the eyes of HMRC.
Any company engaging in R&D activities and claiming tax relief will have claimed in one, if not many, eligible cost categories. Naturally, each category has a set of requirements and it's important to know what these are. For a number of categories 'incurred costs' and 'paid costs' are not the same things. In simple terms, some [...]
The Engineering and Physical Science Research Council centre for doctoral training is collaborating with the world-leading SFI research centres and UK higher education institutions as part of a €38.6 million research and development project. CÚRAM is the Science Foundation Ireland Centre for Research in Medical Devices and it has now received a substantial amount of [...]
Companies that have the best reputation as innovators aren’t necessarily those that spend the most on R&D
Despite Switzerland being known as one of the most innovative nations, latest reports have shown a 10% decline in the country’s research and development spending. This comes as a surprise due to the fact that worldwide R&D expenditure has reached an all-time high of $782 billion. The biggest Swiss companies invested $27.5 billion into R&D [...]