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 [...]
Businesses with Innovative Solutions could be awarded £50,000 by Innovate UK to further develop their ideas
UK Research and Innovation (UKRI) is an organisation working in partnership with universities, research organisations, businesses, charities and government to foster and develop research and development. Innovate UK, the innovation arm of UKRI has announced their plans to invest £20 million in coronavirus R&D “resilience” projects. Innovate UK is calling for businesses in the UK [...]
UK-based Start-up Specialising in Carbon Separation Technology has Secured £12.3 Million in Investments
Three global investors, WAVE Equity Partners, Chevron Technology Ventures and Marubeni Corporations, have invested £12.3 million in UK carbon dioxide separation technology innovator, Carbon Clean Solutions Limited (CCSL). CCSL, a UK-based start-up founded in 2009, is pioneering the way of developing affordable carbon capture technology for utilisation and storage, as used by steel, cement, refining [...]
Corporate Tax relief may be available for your small or medium-sized enterprise (SME) for costs incurred on research and development (R&D). R&D relief allows SMEs that carry out qualifying R&D related to their trade to claim an extra Corporate Tax deduction for certain qualifying expenditure. You can make a claim for R&D relief up to [...]
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 [...]