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    Funding Competitions – Extra cash available for Technology Innovation, Infrastructure Systems and Industrial Waste Challenge in India

    This month and next, there are numerous opportunities for extra funding to bring to your attention.   *** Cutting-edge technology innovation Businesses can apply for a share of £15 million to support disruptive innovation in any technology area with potential to generate growth. Innovate UK has up to £15 million for game-changing, cutting-edge or disruptive innovation projects that lead to new products, processes or services. The open programme This funding is part of a regular series of open competitions that support good ideas with market potential, no matter where they come from. Projects can come from any technology, science, engineering or […]

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    What you need to keep when applying for R&D tax credits

    To make your company more viable and ensure that your claim for R&D relief is accepted, you’ll need evidence to support the proposal that you have put forward. With plenty of areas accountable, it can be difficult to know where to begin and what documents you should keep and monitor. In truth, it’s fairly simple. Ultimately, all your evidence needs to show is that innovations you made were planned R&D work and not just a coincidence. After all, that is what the scheme is in place for. The government want companies to take risks and encourage innovation in a range […]

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    Are R&D projects overseas eligible for tax relief?

    Before we start, R&D tax relief is a reduction in UK corporation tax. So, to be eligible for the relief, the claim must be made by a company that is paying UK corporation tax. The relief is based on the amount of qualifying activities and expenditure undertaken by the UK based company. It isn’t necessarily where the research and development activities are taken. This is unknown to many businesses who think that when they perform activities abroad, it isn’t possible to add it to their R&D claim. Subcontracted work The most common time that R&D work is undertaken abroad is […]

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    Essential criteria for R&D tax credit claim

    It’s common for businesses to either not be aware that the R&D tax credit scheme is there or think that their business is ineligible because their innovation isn’t worthy of a claim. In truth, there are plenty of businesses in the UK that do not claim the tax relief when they are well within their right and meet all of the necessary criteria to be able to have a successful claim. With so much to gain from applying, it’s important for an innovative business to understand the criteria for applying and know that the scheme isn’t just available to those […]

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    Deadlines when applying for R&D tax relief

    Nobody likes a deadline. It’s a word that immediately creates fear: what if I’ve already missed the deadline? Like most schemes, there are deadlines and time constraints when applying for research and development tax relief. There can often be confusion in this areas and some businesses are unaware that there are any deadlines in the process at all. For an innovative business unaware of the tax incentive or the deadlines, they could be sacrificing thousands of pounds each year. In this post, we’ve summarised the deadlines for different areas of the application process and the consequences of missing certain deadlines. […]

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    What are qualifying indirect R&D activities?

    When claiming R&D tax relief, the majority of expenses will be staff costs that were built up throughout the project. Unbeknownst to many, these staff costs don’t just include those that had a direct influence on the research and development. Indirect activities form part of a project but do not necessarily directly contribute to the resolution of the scientific or technological uncertainty, unlike direct staff costs. They are targeted toward hard development and support roles within an organisation. With direct staff costs, subcontractors and external staff can be included but indirect activities can only be claimed for if they are […]

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    R&D tax credits for craft beers

    Craft beers are taking over. Every two days, a new brewery is opening and independent brewers saw increased production for the seventh consecutive year in 2016. Its explosive growth shows no sign of slowing down. Craft beer sales have been growing at a rate of 40 per cent per year. Along with the growth, there has been a never-ending stream of new flavours and strengths. While the breweries can produce a bitter resulting taste, there is a sweet reward for the research and development that goes into creating new products. R&D tax relief is R&D relief for breweries Brewing is […]

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    Tax relief for video game developers

    Video games are constantly evolving and technological advancements have a knock on effect on the industry. A comparison of gaming ten years ago shows just how far the development has come. Video game development is also no longer restricted to just console platforms such as the PlayStation and Xbox either. There is online gaming, tablets and mobile platforms, all meaning that there are greater levels of innovation in the sector. What tax relief is available to video game developers? There are two options available for video game developers: R&D tax relief and Video Game Tax Relief. Video Game Tax Relief […]

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    R&D relief for re-imagining old technologies

    We all feel a sense of nostalgia towards certain items. Being reminded of or finding something that you used in years gone by can spark a chain reaction of feelings and memories. Many of these items may have been rendered obsolete by innovation over the years. Despite this, our attachments to certain objects are so strong that the original cherished items are seeing a revival, re-imagined using modern design techniques, materials and processes. One of the most high-profile revivals recently was Pokémon. Although it never fully went away, the newly revived game, using modern technologies, received unexpected levels of engagement. […]

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    CBI urge the UK to invest more in R&D

    Britain needs to increase its amount of spending on research and development if it doesn’t want to fall behind in the global race to deliver new innovations, claims the UK’s leading business group. The CBI lobby group has launched a campaign urging the government to increase their R&D spending to 3 per cent by 2025, close to double the current level of spending (1.7 per cent). The report that has been created calls on the government and industry to work together to create “game-changing innovations”. Why we need to innovate Technologies are currently changing at a faster pace in a […]

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