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 urges action on innovation tax credit fraud but to keep the claim process simple

Posted on Friday 7 June 2019 by GovGrant

GovGrant CEO Luke Hamm has welcomed HMRC’s (HM Revenue & Customs) decision to crack down on abuse of the R&D tax relief system. GovGrant, which is a member of the HMRC Research and Development Consultative Committee, helps businesses claim millions each year for their innovation, including patents and inventions. Luke said he hoped ministers would move quickly to protect the reputation of the tax system and force out unscrupulous agents in time for new rules on tax credit coming in April next year.

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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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Innovation statistics: the government could do better says GovGrant

Posted on Monday 1 October 2018 by GovGrant

The Chancellor has announced that Budget day 2018, one of the busiest news days in the financial calendar, will be earlier than expected, on 29 October.

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New government tax stats boost innovative UK businesses

Posted on Thursday 27 September 2018 by GovGrant

The government is giving more of a boost than ever before to the UK’s most innovative companies, according to the latest full-year statistics from HMRC.

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