R&D Tax Credits

/R&D Tax Credits

Protein Industries Canada and Innovate UK Provide $20M for Plant-Based Protein Research

By |November 14th, 2023|

Protein Industries Canada and Innovate UK are working together to support innovation in the food industry. The organisations are offering $20 million CDN for collaborative research and development projects aimed at diversifying the protein world with plant-based alternatives. There is a growing demand for plant-based food as the global food industry struggles to meet a [...]

Tax credits for R&D are suspended by HMRC

By |July 5th, 2022|Tags: , |

In an effort to mitigate abuse of tax credits, HMRC suspends certain research and development claims while it investigates irregularities. Until it is able to investigate some claims that are irregular, HMRC has frozen the payment of some research and development (R&D) tax credits. The majority of R&D tax credit claims will not be affected, [...]

Spring statement offers businesses more generous R&D tax credits

By |May 20th, 2022|Tags: , , , , , , |

Read time: 3 minutes Rishi Sunak’s 2022 spring statement promised to reform the UK's R&D tax credits to be more generous to businesses. Which sounds like great news for small and medium sized enterprises (SMEs).  But how does the government  plan on doing this and how will it benefit your business ? Changes in R&D tax [...]

Companies in the UK Must Innovate to Survive

By |October 26th, 2020|Tags: |

BrandZ’s first ranking of the UK’s top 50 most valuable brands does not include a single pure-play tech business, whereas 47% of the global top 50 are technology businesses. The British ranking is skewed heavily towards telecoms, finance and utilities companies, which comprise well over half (69%) of the top 50. Peter Walshe, BrandZ global strategy director [...]

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 [...]