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Scottish R&D Claims Lag Behind UK Peers

By |October 28th, 2020|

Scottish companies are being encouraged to claim R&D tax relief after HMRC data showed that they are only claiming a fraction of the UK equivalent. £230 million has been claimed by Scottish companies for the 2018/29 financial year with an average claim value of £80,341. This amounts to 2,920 claims out of 11,820 claims in [...]

HMRC 2020 R&D Statistics

By |October 2nd, 2020|Tags: |

This week, HMRC released its R&D statistics report, and while the numbers are positive, we still have a ways to go, especially given the massive shift that 2020 has gone through. The report shows continued percentage increases on the number of claims and refund amount. However, the Government's goal is £22 billion of R&D funding [...]

AHK Recruitment Limited v. HMRC

By |September 22nd, 2020|Tags: , |

BACKGROUND AHK Recruitment Limited (“AHK”) v. HMRC (2019) AHK is a UK based company that provides human resources (HR) services and develops HR systems. In 2014 and 2015, the company aimed to research employee attributes (e.g. values, motivation and intellect) and develop technology to assess these in a statistical, methodical way. This work sought to: [...]

Harbourside Products Receive £165,000 in R&D Tax Relief

By |August 19th, 2020|

Harbourside Products in Maryport has recently received £165,000 in R&D tax relief. The company spent over £200,000 to invent a new way of slicing smoked salmon that reduces wastage. This has allowed the company to create new recipes for their pâtés, terrines of chicken, duck, game, ham hock and rabbit.  Owner Richard Hodgson stated, “We [...]

Agricultural R&D Makes Up Less Than 1 Percent of UK R&D Claims

By |July 22nd, 2020|

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 [...]

Cardiff Leading Innovation in Wales

By |April 28th, 2020|Tags: |

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.

By |November 22nd, 2019|Tags: , , , |

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 [...]

Significant R&D collaboration between Ireland and the UK

By |June 28th, 2019|

U.K. boosts research and development drug funding

By |June 28th, 2019|

What is needed to achieve R&D innovation growth

By |June 28th, 2019|