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Autumn Statement 2022 – our initial response

Posted on Thursday 17 November 2022 by Luke Hamm | Chief Executive Officer

What did the Chancellor announce in the Autumn Statement today?

The R&D tax relief schemes were specifically mentioned by The Chancellor of Exchequer, Jeremy Hunt today. In response to reports of abuse and fraud in the SME scheme, he has announced a cut in the enhancement rate to 86% (from 130%) and the tax credit rate to 10% (from 14.5%). For the RDEC scheme, the rate will increase from 13% to 20%.
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Budget 2021: What does it mean for R&D and innovation?

Posted on Wednesday 10 November 2021 by Luke Hamm | Chief Executive Officer

The Chancellor of the Exchequer, Rishi Sunak, presented his Autumn Budget and Spending Review to Parliament on Wednesday 27 October 2021. There were very few surprises when it comes to R&D, innovation, and Patent Box tax relief. Many of the announcements were made against the context of the recent R&D consultation, see our response here.
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Budget 2021 – what it means to innovative companies in the UK

Posted on Wednesday 3 March 2021 by Luke Hamm | Chief Executive Officer

The Chancellor had a tough task today in dealing with the short term needs and long term recovery that Covid-19 necessitated. It is encouraging to hear some real steps forward in the R&D roadmap including a commitment to green energy, levelling up, skills and visa agendas and a review of R&D tax relief.
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Blue sky thinking – we’ve never needed it more

Posted on Tuesday 23 February 2021 by GovGrant

First announced nearly a year ago, as part of the 2020 budget, it seems that the government is set to go ahead with the £800m investment into a new “blue skies” science research agency. If it was welcome in 2020, it is surely essential now with everything that has happened in the interim.
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GovGrant welcomes the BEIS announcement of R&D budget allocations for 2020 to 2021

Posted on Friday 5 June 2020 by GovGrant

It may seem like another era, but the UK budget on was less than 3 months ago. At that time the Chancellor set out his plans to increase public R&D investment to £22 billion per year by 2024 to 2025.
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GovGrant welcomes new government initiative to help small businesses

Posted on Monday 10 December 2018 by Luke Hamm | Chief Executive Officer

Luke Hamm, chief executive of innovation tax specialist GovGrant, has welcomed the government’s announcement that it is to introduce new laws to protect small businesses against unfair contracts that stop them raising money from unpaid invoices.

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GovGrant CFO Steve Phillips reflects on the 2018 Budget and its impact on innovation and R&D

Posted on Friday 9 November 2018 by Steve Phillips | Chief Financial Officer

As is usual, politics took centre stage following the 2018 Budget. Labour was under scrutiny after the Shadow Chancellor, John McDonnell, indicated that, unlike his boss, he would not oppose the government’s personal tax changes. In the Times, leading economist David Smith noted that while the budget ‘must be judged as a political success,’ the level of public debt continues to be a cause for concern.

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Webinar: Budget 2018: Has the chancellor delivered on tax and innovation?

Posted on Tuesday 30 October 2018 by GovGrant


Title: Budget 2018: Has the chancellor delivered on tax and innovation?

Date: Thursday, November 01, 2018

Time: 09:30 AM Greenwich Mean Time

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GovGrant urges boost for productivity and innovation in the October Budget

Posted on Tuesday 23 October 2018 by Luke Hamm | Chief Executive Officer

GovGrant, the innovation and R&D tax specialist, has urged the Chancellor to use the tax system to boost the UK’s army of inventors and innovators in the Budget on 29 October.

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Getting rid of scheme would be patently wrong

Posted on Tuesday 23 January 2018 by Luke Hamm | Chief Executive Officer

A long awaited report into tax credit relief was pretty much guaranteed to make waves because of its forthright views. The Institute for Public Policy Research did not hold back when it released its findings into the extra revenue that firms can access for carrying out research and development.

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Government needs to make sure that the support goes where it is needed the most

Posted on Tuesday 16 January 2018 by Luke Hamm | Chief Executive Officer

Everyone knows that running your own business is one of the toughest challenges out there in the professional world. It takes a mixture of guts, determination and self-belief to make a success of a small enterprise and the UK’s army of entrepreneurs need all the help and support they can get.

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Government gets it right on Innovation

Posted on Friday 24 November 2017 by Luke Hamm | Chief Executive Officer

Philip Hammond made it abundantly clear in his Budget that innovation and creativity are the driving forces behind the UK’s economy.

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