In line with recent changes to the UK’s Research and Development tax incentives to be effective from 1 April 2023, the company has released guidance about the supplemental information required. What is the Additional Information The form requires the following information Company Details Unique Taxpayer Reference (UTR), this must match the one shown in your [...]
The Government published draft legislation in July 2022 covering significant reform to the UK’s Research and Development tax incentives to be effective from 1 April 2023. With this date imminent, let’s discuss what these changes mean. The Government stressed the objectives of the legislative changes are to produce a modernised and cost effective scheme with [...]
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, [...]
The ICAEW's Tax Faculty summaries the annual report and highlights the differences HMRC complaints decreased by 19% (1,029) COVID-19 support is less of a problem, but the number of complaints is higher than before COVID. The complaints that have been resolved represent 32% of the total, and those that have been partially resolved could still [...]
Edinburgh-based startup, Stamp Free Ltd has raised £600,000 as part of an oversubscribed funding round. The company has only increased in valuation since September 2021. With a pre-investment valuation of £4 million, the company doubled its £2m pre-investment valuation from its Seed One funding round. The company has focused their efforts on developing a digital [...]
NatureMetrics, a DNA-based biodiversity monitoring company, has announced a raise of more than €14 million in fresh funding. The funding round was led by urban sustainability-focused venture capital fund 2150 and saw participation from Ananda Impact Ventures, SWEN Capital Partners’ Blue Ocean and BNP Paribas Solar Impulse Venture Fund, and follow-on from Systemiq Capital. Governments [...]
WANdisco, Inc. has announced their plans to create 33 jobs at their Belfast software development centre. In addition to these 33 roles, another 11 positions will be opened up to support their research and development efforts, doubling their Northern Ireland R&D staff over the next three years. “With this new £7 million investment, we plan [...]
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 [...]
The Sustainable Aquaculture Innovation Centre (SAIC) has called for proposals for projects focused on improving Scotland’s aquaculture sector. The SAIC aims to transform Scottish aquaculture by unlocking sustainable growth through innovation excellence. SAIC will provide as much as 50% of the overall project costs. With this in mind, they are searching for projects which will [...]
Citizen science projects are being funded in the UK, with 6 projects set to tackle issues on food safety. The Food Safety Agency (FSA) and UK Research and innovation (UKRI) have awarded £200,000 to each of the projects which should last between six and nine months. This research will incorporate citizen science, where the public [...]
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