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Furlough and R&D tax credits: Can you claim relief?

Posted on Wednesday 16 September 2020 by Vanessa Cooper | Group Technical Tax Manager

We have had some clarification from HMRC on how companies furloughing staff deal with claims under the SME R&D tax relief or Research and Development Expenditure Credit (RDEC) schemes. It’s important to realise that the rules are different under each of these schemes. But also that small and medium enterprises can claim under the RDEC scheme.
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HMRC confirms the State Aid rules for each new Covid-19 loan scheme

Posted on Friday 29 May 2020 by Vanessa Cooper | Group Technical Tax Manager

GovGrant sits on the Research & Development Consultative Committee (RDCC) to represent UK’s business when it comes to the operational delivery of the R&D tax relief schemes. This is an HMRC-sponsored forum, and as members we receive regular updates as HMRC advice evolves and develops. We are currently in an unprecedented period of change, with the introduction of new and vital measures to support business British business.> Read more

Speed of deployment – the measure of success for government support during Covid-19

Posted on Friday 15 May 2020 by Luke Hamm | Chief Executive Officer

In his first ever budget the Chancellor was bold and ambitious with his plans but since the 11 March the world and economy have changed beyond compare and the subsequent financial response from the Chancellor means the budget has paled into insignificance. Here Luke Hamm, CEO at GovGrant, considers how innovation is being promoted by the government and how speed is critical to any success.

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How will Covid-19 affect the going concern requirements?

Posted on Monday 11 May 2020 by Vanessa Cooper | Group Technical Tax Manager

Increased risk of material uncertainties

In these unprecedented times, the audit of going concern assessments and reporting on material uncertainty related to going concerns are key for auditors. The Audit and Assurance Faculty has produced two guides on the topic.
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In our hour of need is the UK’s patent process a help or a hindrance?

Posted on Tuesday 5 May 2020 by Akshay Thaman | IP Consultant & Policy Lead

It is safe to say that the sudden emergence of Covid-19 and its impact has taken the world by surprise. It has brought economies to their knees as well as posed social challenges, but most importantly, it represents a great threat to the health and wellbeing of the most vulnerable. In these truly unprecedented times, our hopes of fighting, mitigating, and eventually, overcoming this global pandemic rest on the shoulders of innovative companies, universities and other organisations coming up with technical solutions to solve this problem, and fast.
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Accelerate cashflow thanks to your R&D

Posted on Tuesday 7 April 2020 by Luke Hamm | Chief Executive Officer

R&D tax credits provide a real financial benefit to UK companies. As part of the UK governments commitment to R&D and innovation, it is one of the most successful mechanisms to support innovation in business. And now is the time to make sure that you are receiving the maximum amount of value possible.
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New grant funding announced for UK’s innovative businesses

Posted on Monday 6 April 2020 by Akshay Thaman | IP Consultant & Policy Lead

On Friday 3 April the government announced that Innovate UK, part of UK Research and Innovation, will invest up to £20 million in the funding of innovation projects that respond directly to the Covid-19 pandemic.
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HMRC updates on R&D tax relief in the light of Covid-19

Posted on Friday 3 April 2020 by Vanessa Cooper | Group Technical Tax Manager

GovGrant, like many SMEs, is doing everything we can to share, support and advise UK companies at this time

Yesterday we received an email update from HMRC specifically on R&D tax relief, which we share below. We hope it helps answer some of your questions but if you want to have a more detailed conversation about how Covid-19 is affecting your business either email or leave a message and we’ll get back to you.

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Leisure in Lockdown – at least your mind is free to wander

Posted on Wednesday 25 March 2020 by Luke Hamm | Chief Executive Officer

“What is this life if, full of care, we have no time to stand and stare.” The words of welsh poet W H Davies were ringing my ears for all the right reasons today.”
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