What does this election mean for innovation in the UK

Posted on Tuesday 26 November 2019 by GovGrant

The golden rule in an office, never talk politics – well sorry, I feel that I need to break that rule! The election manifestos have been unsurprising from the main two parties – sort Brexit on one side or change everything the other side is the summary. But of selfish importance to me and my clients is the parties view on how government should invest in R&D to make sure the UK leads the world in innovation.

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R&D Tax Credits: doing nothing is not an option

Posted on Tuesday 15 October 2019 by GovGrant

In their latest podcast, Accountancy Age spoke to GovGrant’s CEO, Luke Hamm, about the need for the R&D tax credit programme to be kickstarted in the UK in order to drive much-needed innovation. In this entertaining podcast, we cover why the government must do more, how businesses of all sizes are missing out, the regional problem and why the big four need to take some of the blame for the issue.

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Government must do more to support innovation or risk losing our best businesses to competitors

Posted on Thursday 10 October 2019 by GovGrant

Innovation tax specialist GovGrant comments on the annual HMRC tax credits statistics and says Government needs to demonstrate that it really is pro-business. Commenting before the publication today (10 October) of the latest HMRC statistics measuring the amount of tax credits claimed by the UK’s most innovative businesses during the previous 12 months, Luke Hamm, CEO of GovGrant, said:

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Good news in HMRC R&D tax credits report, but new policies needed to boost growth

Posted on Thursday 10 October 2019 by GovGrant

Commenting on HMRC’s analysis of UK R&D tax credits in its report, published today Luke Hamm, CEO of innovation tax specialist GovGrant, which has helped businesses claim back over £200m for their R&D, said: “The good news is that the number of claims by UK SME businesses accessing the tax credits system has increased by 22% between 2015-16 and the end of 2017. 77% of all claims are from SMEs, and there’s been a welcome 15% increase in the number of first time SME applications.”

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GovGrant CEO Luke Hamm asks whether the government should be upping the pace on its artificial intelligence strategy

Posted on Tuesday 11 June 2019 by GovGrant

The government’s latest Industrial Strategy report on artificial intelligence (AI) delivers some welcome headlines, but I have a nagging feeling that progress in creating a world-class AI sector in the UK is stately, rather than speedy. The government is, after all, marking its own homework, so it’s no surprise that it accentuates the positive.

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GovGrant CEO Luke Hamm explores what lessons China’s industrial strategy can offer the UK

Posted on Friday 31 May 2019 by GovGrant

Luke Hamm is CEO of GovGrant, a specialist adviser helping companies take advantage of generous government tax incentives for innovation. You can’t keep China out of the news. Not only is it poised to overtake the USA as the world’s biggest economy (and this may be a political factor behind the current trade war with the US), but in the UK, the government is weighing up whether to allow Huawei, the Chinese telecoms giant, to build parts of the UK’s 5G network.

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GovGrant urges Chancellor not to go ‘down under’ for innovation and R&D tax policy ideas

Posted on Monday 18 February 2019 by GovGrant

Australian government proposals to restrict tax incentives for R&D and innovation have been delayed following an outcry from business and research groups. The proposals, intended to save £1.2bn capped cash refunds for research activities at $4m, introduced a new ‘intensity test’ for larger companies to favour higher, more intensive R&D investment, and significantly increased compliance and enforcement measures, according to a report in the Guardian newspaper.

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GovGrant CEO says urgent reform of UK Patent Policy needed

Posted on Thursday 24 January 2019 by GovGrant

  • Hacker Young study identifies obtaining more AI patents as key to UK’s future growth
  • System for obtaining patents stacked against SMEs

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GovGrant calls for more R&D investment after latest EU stats rank UK at 11, well behind EU competitors

Posted on Friday 11 January 2019 by GovGrant

Commenting on the latest R&D figures from Eurostat [Estimates of Research & Development expenditure – 10 January], where the UK ranked 11th among EU member states for R&D expenditure in 2017, Luke Hamm, chief executive of innovation tax credits specialist GovGrant, said:

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GovGrant welcomes new government initiative to help small businesses

Posted on Monday 10 December 2018 by GovGrant

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 urges Herts businesses to claim credit for innovation after government announces local industrial strategy

Posted on Monday 10 December 2018 by GovGrant

GovGrant, the St Albans-based innovation and R&D tax credits specialist, has welcomed government plans to develop localised industrial strategies, including for Hertfordshire, but has urged ministers to keep their focus on supporting the strategy at a national level too.

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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 GovGrant

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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GovGrant: Agri-Business a Key Sector for Investment and Active Policymaking

Posted on Wednesday 24 October 2018 by GovGrant

GovGrant, the innovation and R&D tax credits specialist, has welcomed the government’s commitment to the agri-tech sector following the outcome of a government-sponsored roundtable earlier this month, where ministers announced a further £30m investment (on top of £90m already committed via the Industrial Strategy) to enable farmers to buy into technology.

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GovGrant urges boost for productivity and innovation in the October Budget

Posted on Tuesday 23 October 2018 by GovGrant

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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GovGrant joins influential All Party Group for Design and Innovation

Posted on Tuesday 16 October 2018 by GovGrant

GovGrant, the innovation tax incentive specialist, has joined the All Party Design and Innovation Group (APDIG), a parliamentary body made up of MPs and Peers that champions innovation inside and outside Parliament.

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Latest Govt stats highlight how SMEs are critical to the health of the nation.

Posted on Monday 15 October 2018 by GovGrant

Business powers our economy, even if Boris Johnson colourfully disagrees, and the Chancellor has a chance to underscore the government’s support for business – especially small business – in his Budget at the end of October.

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GovGrant welcomes new government initiative to help small businesses

Posted on Monday 10 September 2018 by GovGrant

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 calls for UK’s innovative businesses to take up Government R&D support

Posted on Thursday 9 August 2018 by GovGrant

GovGrant, the leading innovation tax relief specialist, has welcomed what the government has described as the ‘biggest increase in public R&D (research and development) funding for over 40 years.’

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Can the government help fund your manufacturing business?

Posted on Tuesday 15 May 2018 by GovGrant

It is certainly in the best interest of the UK to bolster the manufacturing capabilities of UK companies, especially during turbulent times when international trading relationships are in a state of flux. Some people might be surprised to learn that the government is doing something to address the situation.

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Green Energy – every business can do it.

Posted on Tuesday 20 March 2018 by GovGrant

It is an essential element of the UK Industrial Strategy to encourage businesses to invest in green energy to ensure, we continue to reduce our carbon footprint. Environmental taxes have been making the headlines in recent months. The public is more aware of caring for the environment than ever before, with charges for carrier bags and coffee cups and the rise in popularity of electric cars and green energy suppliers to the home.

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We have a seat at the table

Posted on Thursday 8 March 2018 by GovGrant

Last night, GovGrant hosted a dinner at the House of Commons with a number of MPs, industry experts and our clients to discuss how government should support the SME community. The focus was on the question, ‘If the R&D tax credit system is driving innovation and productivity, why is uptake still low and what should be done to give SMEs better IP protection and understanding?’

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Getting rid of scheme would be patently wrong

Posted on Tuesday 23 January 2018 by GovGrant

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 GovGrant

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 GovGrant

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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