R&D Tax Credits

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Preparing a CT600 to Claim Research and Development Tax Relief

By |March 9th, 2020|Tags: , , |

If you are a small or medium-sized enterprise (SME), you may be eligible to claim R&D tax relief, if your project meets the definition of R&D. This will allow your company to: deduct an extra 130% of the qualifying cost from your yearly profit, as well as the normal 100% deduction, coming to a total [...]

Proposed R&D Tax Credit Scheme Could Harm SMEs

By |March 8th, 2020|Tags: , , , , |

A statement released by the BioIndustry Association (BIA) highlights the potential harm the proposed changes to the R&D tax credit schemes could have on small and medium-sized enterprises (SME). The government is proposing to introduce a cap on the value of cash payments that loss-making SMEs can receive through R&D tax credits. This would be [...]

Changes to R&D Tax Credit Claim Filing Process From 1 April 2019

By |February 17th, 2020|Tags: |

From 1 April 2019, R&D tax credit claims must be accompanied by a CT600 and full computation. A claim for R&D Relief up to 2 years after the end of the accounting period it relates to can be claimed by entering your organisation's enhanced expenditure into the full CT600 form. HMRC has implemented this change to [...]

U.K. boosts research and development drug funding

By |December 3rd, 2018|

Innovate U.K boosts research and development funding towards artificial intelligence for drug discovery. The funding is established by the British Government to strengthen U.K. technologies. The funding will be distributed to a software company, an artificial intelligence firm and a healthcare organisation. The $1.3 million research funding scheme is designed to tap into the power of artificial [...]

What is needed to achieve R&D innovation growth

By |November 30th, 2018|

Research and development (R&D) in Europe accounts for 20% of the world’s investment in R&D and a significant contributor is based on the world class science the UK delivers. Considering the UK holds only 1% of the world’s population and 3% of the global spend on research funding, the nation impressively accounts for 12% of all research [...]

R&D Tax Credits Birmingham

By |August 31st, 2018|

Birmingham is a thriving city in England which is currently experiencing a rush of investment in the form of research and development activities. If you're located in the Birmingham, England area and operate a company or organization which engages in qualifying R&D activities, you may be eligible for research and development tax credits. We at [...]

R&D research can yield tax rewards for your company!

By |January 9th, 2018|Tags: , , , , , |

If your company is carrying out research into a new process and is incurring costs and expenses as a result of its research, it may be eligible for an R&D tax relief. It does not matter whether the time, effort and costs invested will result in a successful outcome, as long as the company is [...]

Ensure your business remains competitive post-Brexit!

By |September 20th, 2017|Tags: , , , , |

It is essential that SMEs start to reap the benefits of R&D post Brexit and here is why.. The news about the government’s R&D boost is a timely reminder that UK businesses are still losing out on generous R&D savings. Over the past year there has been a 20% increase to the overall HMRC R&D [...]

UK remains on an upward innovation trajectory

By |July 13th, 2017|Tags: , , , , , , , , , , |

Research conducted by Mastercard and the Fletcher School of Tufts University has recognised the UK as one of the world’s digital elite economies, according to the Digital Evolution Index 2017. This is a comprehensive study tracking the progress countries have made in developing their digital economies and integrating connectivity into the lives of billions. The [...]

Nuclear modular manufacturing facility opens in North West England

By |July 6th, 2017|

The UK’s Nuclear Advanced Manufacturing Research Centre (NAMRC) has opened a new modular manufacturing research and development centre in North West England. The new facility is located at NAMRC member company Cammell Laird’s 120-acre site in Birkenhead, opposite the city of Liverpool. The R&D centre significantly expands NAMRC’s capabilities into modular manufacturing, which involves the [...]