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08 Mar

HMRC see an increase in fraudulent claims for R&D tax relief

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

HMRC state that they have seen an increase in fraudulent claims for Research & Development (R&D) tax relief. They believe companies in certain sectors are being deliberately targeted by third parties to make inaccurate R&D claims as an amendment to their Company Tax Returns. As a result of this, they are increasing their compliance enforcement activity. As part of a “One to Many” letter campaign, HMRC...

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05 Mar

Understanding R&D Tax Credits – FAQs

by Georgina Swain
in Uncategorized
Comments

The UK Government’s Industrial Strategy has committed to increase investment in research and development (R&D) in the UK to committing to a £39.8 billion R&D budget for 2022-2025 to help deliver the government's Innovation Strategy and drive forward ambitions as a science superpower. The allocations will help the government reach the goals set out in the Innovation Strategy. These investments will also help the UK reach...

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08 Feb

Important R&D changes from April 2023

by Georgina Swain
in development, R&D Tax Relief, research, Uncategorized
Comments

The government are committed to a number of important changes to Research & Development (R&D) tax relief from 1 April 2023. It also looks increasingly likely that the two existing systems will be merged into a single system in future years and we hope to hear more in the March 2023 Budget. We already know that there will be a significant reduction in the tax relief...

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14 Dec

Industrial Energy Transformation Fund Phase 2 Autumn 2021

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

The Department for Business, Energy and Industrial Strategy (BEIS) has opened the new Industrial Energy Transformation Fund (IETF) Phase 2: Autumn 2021 competition window. Businesses in England, Wales and Northern Ireland can bid for a share of up to £60 million in grant funding through the new competition window, which is open for applications until 6 December 2021. The competition will provide grant funding towards the costs...

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09 Dec

Landmark R&D Tax Relief win against HMRC has important implications for SMEs

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

A recent landmark tribunal victory against HMRC, pertaining to a disputed £1 million Research & Development (R&D) tax relief claim, Quinn (London) Limited v Revenue & Customs, has important implications for all limited companies seeking to claim R&D tax relief, particularly Small and Medium Sized Enterprises (SMEs). The landmark First-tier Tribunal (FTT) judgment regarding SME R&D tax relief and subsidised R&D expenditure was based upon an...

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01 Dec

Government publishes further details from its review into R&D tax reliefs

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

The Chancellor announced in his Autumn Budget that R&D tax reliefs would be reformed to support modern research methods. As part of Tax Administration and Maintenance Day, the Government has now set out further plans to continue building a modern, simple and effective tax system - which helps taxpayers get their tax right the first time - as well as the next steps for the...

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01 Dec

Plan it with purpose: achieve your sustainability goals

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

Enterprise Nation is partnering with Aviva and Smart Energy GB to help businesses implement sustainable best practices that deliver a positive impact on the planet, society, and the economy. The programme has been designed to support small and medium businesses and business owners by increasing their understanding of environmental and social issues in the UK, showcasing relatable role models, building sustainable ventures, plus encouraging change through...

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15 Nov

UK Seafood Innovation Fund third call open

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

The Seafood Innovation Fund (SIF) is now accepting third call applications. The SIF programme focuses on delivering longer term, cutting-edge innovation across the seafood sector, and helping to take innovative ideas from early-stage research to commercial viability. The programme includes: primary producers onshore supply chains marine and diadromous fisheries marine and land-based aquaculture The programme excludes: freshwater fishing recreational fishing This call is open for feasibility studies only. The...

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12 Oct

Industrial Energy Transformation Fund Phase 2 Autumn 2021

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

IETF Phase 2 provides grant funding for feasibility and engineering studies, industrial energy efficiency and deep decarbonisation projects. The Department for Business, Energy and Industrial Strategy (BEIS) has opened the new Industrial Energy Transformation Fund (IETF) Phase 2: Autumn 2021 competition window. Businesses in England, Wales and Northern Ireland can bid for a share of up to £60 million in grant funding through the new competition window,...

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11 Oct

Audience of the Future funding for early-stage projects

by Georgina Swain
in R&D Tax Relief, Uncategorized
Comments

Apply for a share of up to £800,000 for early-stage, human-centred design projects in creative or immersive experiences. Innovate UK, as part of UK Research and Innovation, will invest up to £800,000 to fund early-stage, human-centred design projects through the Audience of the Future Challenge Fund. The aim of this competition is to support early-stage projects to generate ideas that meet customer needs, using research and human-centred design...

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