Artificial Intelligence has been an absolutely essential tool in the biomedical industry. They have been used to predict the structures of almost every protein made by the human body. This knowledge has then been extrapolated out to development of treatments and pharmaceuticals and furthering our understanding of bodily processes and disease behaviour. Understanding the shapes [...]
Contractors are one of the qualifying expenses of R&D tax claims. This allows companies to rely on external experts while increasing the size of their available tax credit. However, there are some caveats and exceptions to the rule. When a subcontractor or an Externally Provided Worker (EPW) is classed as “connected”, the qualifying expenditure is [...]
The UK Government has committed to finding ways to achieve a green and prosperous future. The Department for Business, Energy and Industrial Strategy (BEIS) has a critical part to play in this endeavour. They spent the past year tackling huge challenges brought on by the coronavirus pandemic in addition to working on a comprehensive trade [...]
The UK government is committed to expanding innovation through all industries. Recently, UK Treasury Secretary Rishi Sunak has announced plans for £ 375 million in funding for tech startups. This funding will come through as the Future Fund: Breakthrough scheme. The Future Fund:Breakthrough scheme encourages private investors to co-invest with the government in high-growth, innovative [...]
Pyreos Ltd, a manufacturer of mini, rugged, pyroelectric, mid-infrared sensors and detectors, made claims for tax relief for the 2010 and 2012 tax years. With the claim being made under section 1119, CTA 2009, they relied on Pyreos being an autonomous SME. Because of this, the Commission Recommendation (EC) sought to look at the composition [...]
University of Bath’s Centre for Sustainable and Circular Technologies (CSCT) has created a new collaboration between academia and industry. The goal is to create sustainable chemical technologies to accelerate the UK into a net-zero carbon emission status. iCAST -the Innovation Centre for Applied Sustainable Technologies - will aim to facilitate this transition. They’ve pulled experts [...]
Hadee Engineering Co Ltd v Revenue & Customs [2020] UKFTT 497 (TC) Background Hadee Engineering Co filed for R&D tax credits for the 2009 and 2010 tax years. These claims were denied by the HMRC. Naturally, Hadee Engineering appealed this decision. The claims were made under the SME scheme, claiming enhanced expenditure of 75%. The [...]
UK Research & Innovation (UKRI) has announced funding for their Transforming Foundation Industries (TFI) challenge. They have announced an £8 million funding pot for waste and recycling projects and an additional £7 million for plastics innovations. Some of the winning projects include: Development of a composite feedstock for electric arc furnaces Recovering cotton fibre from [...]
The National Research Council of Canada (NRC) and UK Research and Innovation have announced 7 Canadian firms who will pursue collaborative projects with UK partners through the Canada-UK Industrial research and development call for proposal. With the help of advisory services and up to £1.7 million in funding, the collaboration efforts will focus on increasing [...]
A recent report has come out questioning the UKs R&D tax credit scheme. Their premise states that the 20-year-old policy which delivers a £7.3bn research and development tax credit system is failing to deliver significant additional spending by businesses. The R&D tax credits scheme was introduced in 2000, offering government funding to support R&D in [...]
