What is Patent Box?

Posted on Tuesday 10 December 2019 by GovGrant

Patent Box sits alongside R&D tax relief as a strong financial incentive for companies to innovate. Patent Box was introduced by the government in April 2013 to reward the active exploitation of patented technology in the UK and remains a very generous tax relief for businesses utilising their patents.

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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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Hertfordshire Business Awards 2019

Posted on Friday 4 October 2019 by GovGrant

GovGrant is delighted to be sponsoring the Innovation category at this year’s Hertfordshire Business Awards. This will be our third year sponsoring this category, which recognises and rewards innovation within our region. It always made sense for us to sponsor this award, after all, we spend our time working with all kinds of firms helping them identify innovation so they can get access to vital government funding.

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7 reasons why you’re not claiming R&D tax relief – and why you could be wrong

Posted on Thursday 19 September 2019 by GovGrant

As leading experts in R&D tax relief, we’ve heard all kinds of misconceptions about the scheme over the years. The words ‘Research and Development’ often leads minds to think of things like rocket ships, test tubes and people in white lab coats but that simply isn’t the case. Many of our clients don’t realise they have qualifying projects, but just view them as their normal ‘day to day activities.’ So, are often surprised when they learn their innovations are eligible for the government-backed scheme.

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Yorkshire firm gets £90,000 boost from tax scheme – and urges others to check if they’re eligible

Posted on Monday 8 July 2019 by GovGrant

Hebden Bridge-based Urban Cottage Industries has secured £90,000 under the R&D tax credit scheme. The company is a bespoke manufacturer of high quality, retro and vintage style lighting equipment, aimed at professional designers, architects and engineers. CEO Stanley Wilson said the money had made a big difference to the firm, which invests heavily in innovation, at a time when tough market conditions made it a challenge to pay their day-to-day bills.

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Unleashing Opportunities – GovGrant leads the way at SME event

Posted on Thursday 27 June 2019 by GovGrant

GovGrant collaborated with four other firms aiming to help SMEs maximise their innovation opportunities at a June event in partnership with Business Funding Show. It was the first in a programme of GovGrant sponsored events. We invited the other organisations to share the platform in order to give innovative companies a fully-rounded insight into available funding sources (debt, equity, grant and, of course, the R&D tax credits and Patent Box schemes) to support a continuous cycle of innovation within their organisations, and all the business benefits that ensue.

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Spotlight on software considerations in R&D

Posted on Monday 17 June 2019 by GovGrant

Defining software development is one of the most challenging areas for R&D advisers and HMRC alike. The question that needs to be addressed is: “What are the eligible R&D activities that fall within the specific R&D legislation?” Misunderstanding the definition of “eligible R&D activities” means getting the answer wrong, with the result that some companies either underclaim or overclaim for R&D. Some companies think that all software development is R&D, whilst others think that software development can’t qualify as it is not ‘white coat’ stuff… both scenarios are of course incorrect.

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GovGrant targets agritech and vertical farming to support innovation in food production

Posted on Thursday 13 June 2019 by GovGrant

GovGrant, the innovation tax specialist that helps businesses secure tax breaks for their R&D and intellectual property, has targeted ‘vertical farming’ for future business development. GovGrant CEO Luke Hamm said that vertical farming provides ethical solutions to the problems of mass population, as well as practical opportunities to commercialise food production by adopting new practices in an industry that hasn’t much changed for thousands of years.

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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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Medtech and biopharma can drive the UK growth agenda and more support should be given

Posted on Friday 3 May 2019 by GovGrant

The UK’s biopharma and medtech sector is a world class sector with potential for stellar growth, according to Luke Hamm, CEO of GovGrant, which helps companies in the sector obtain commercialise their innovations, including R&D tax credits. Commenting after the publication of the government’s Office For Life Science’s (OLS) statistical survey of biotech and medtech in the UK, Luke said: “The report underlines the vital importance of this sector to the UK economy, with a quarter of a million employees, turnover of nearly £75bn and over 6,000 businesses across the four key areas.” [biopharma, biopharma service and supply, med tech core and med tech supplier businesses.]

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Honda closure must bring about government re-think for innovation, says GovGrant CEO

Posted on Tuesday 5 March 2019 by GovGrant

Honda’s decision to close its Swindon car plant by 2022 has been hijacked by the politics of Brexit. No surprise there, but the closure also blows a big hole in the government’s industrial strategy, which placed some big bets on the development and production of electric vehicles in the UK.

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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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The real Sir James Dyson question: What has Singapore got that the UK hasn’t?

Posted on Wednesday 30 January 2019 by GovGrant

Sir James Dyson’s decision to move his corporate HQ from the UK to Singapore has unleashed a storm of Brexit-related comment. Sir James, one of the UK’s most successful inventors, is a prominent Brexit supporter, and he has been widely criticised as hypocritical on social media and in the MSM.

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Employment Law and Innovation Funding – upcoming Cambridge event

Posted on Thursday 10 January 2019 by GovGrant

Business financing – cash flow and employees are key assets in every organisation and while the full impact of Brexit on business remains to be seen, business owners should take every opportunity to reinforce these critical areas now and for the future.  GovGrant, the UK’s leading specialist in Government incentive funding schemes and Peninsula an award-winning provider of HR, Employment Law & Health & Safety support services would like to personally invite you to attend a brief but invaluable complimentary event for business owners at 9.30am on Tuesday 5th February 2019 at The Hallmark Hotel, Cambridge.

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GovGrant featured in Envirotec Magazine

Posted on Wednesday 19 December 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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GovGrant: Patents should make money for business, not just make people feel good

Posted on Wednesday 12 December 2018 by GovGrant

Luke Hamm, chief executive of innovation tax credit specialist GovGrant, will urge business owners to monetise their intellectual property (IP) and stop treating it like a medal. In a keynote speech to delegates at the start of London IP Week (Monday 10 December), Luke, whose business helps the UK’s most innovative SMEs claim for the government’s ‘Patent Box’ scheme, will accuse policymakers of ‘woefully under-protecting IP,’ calling for bolder policies policy to ensure business and the wider knowledge economy derives full value from inventions.

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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 hands top business award to Ultima

Posted on Friday 30 November 2018 by GovGrant

Luke Hamm, CEO of GovGrant was on hand to give the 2018 Thames Valley Business Magazine award for best use of technology and innovation to Reading-based Ultima Business Solutions Ltd.

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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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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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Interview with Luke Hamm, CEO GovGrant

Posted on Tuesday 4 September 2018 by GovGrant

Tell me about your background and how/why you became CEO at GovGrant?

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‘It Pays to Innovate’ workshop hosted by GovGrant

Posted on Thursday 30 August 2018 by GovGrant

We are delighted to be hosting our second ‘It Pays to Innovate’ workshop with Velocity Growth Hub next week. Seats are limited, but it’s not to late to book your free space!

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GovGrant featured in GTMA Aerospace Executive briefing

Posted on Thursday 30 August 2018 by GovGrant

Charles Darwin said that ‘it’s not the strongest of the species that survive, nor the most intelligent, but the one that is most responsive to change.’ He was citing the animal kingdom, but (if he was still with us) he could equally be channeling the UK aerospace sector, one of the UK’s most important industries.

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Not enough insurtechs in FCA Sandbox – Insurance Times feature

Posted on Friday 24 August 2018 by GovGrant

This year saw only three insurtechs in the FCA Sandbox out of 29 firms in total.

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Innovation the key for better business

Posted on Wednesday 22 August 2018 by studio@tuchdesign.com

One of the more heartening aspects of this year’s Federation of Small Business (FSB) innovation survey is that SMEs know they need to innovate, particularly in the face of competition.

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CEO featured in Insurance Times

Posted on Wednesday 22 August 2018 by GovGrant

The insurance industry is missing out on claiming back research and development (R&D) tax.

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Why SMEs are not accessing R&D tax credits

Posted on Tuesday 14 August 2018 by GovGrant

The Federation of Small Business (FSB) innovation survey stands out like a sore thumb. There are a huge number of SMEs not accessing or not even being aware of government support for their research and development (R&D).

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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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Most small businesses are innovating

Posted on Wednesday 8 August 2018 by GovGrant

Results from this year’s Federation of Small Business (FSB) innovation survey make for interesting reading.

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How AI is changing all our lives – even for accountants

Posted on Tuesday 31 July 2018 by GovGrant

The march of artificial intelligence is seemingly unstoppable. An AI-world is viewed with alarm or excitement depending, I suspect on whether the Terminator movies increase your pulse rate or send you to sleep.

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Steve Phillips – CFO at GovGrant – on life in the world of R&D and Innovation

Posted on Monday 30 July 2018 by GovGrant

Q. You’ve had a number of senior roles in private equity-backed businesses, and in private equity, so what was the attraction of joining GovGrant?

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Recognising and valuing your intellectual property

Posted on Tuesday 24 July 2018 by GovGrant

From that light bulb moment through to go live – understanding how you maximise the value of your innovation is key.

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GovGrant featured in Insurance Edge

Posted on Monday 16 July 2018 by GovGrant

Insurtech is the buzzword in the insurance industry right now, with dozens of UK start-ups all trying out new ideas and often hungry for investment cash. But what can they do to increase their chances of getting off the launch pad? Is there anything companies can do to get more government help?

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Breakfast with your local innovation partner

Posted on Tuesday 10 July 2018 by GovGrant

Come and join us for a free breakfast seminar on Tuesday 24th July 2018, in the heart of St Albans.

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Whose idea was it anyway?

Posted on Tuesday 26 June 2018 by GovGrant

Anyone old enough to remember the BBC comedy series Harry Enfield and Chums may recall the wonderful public information film pastiche sketches which always ended with the phrase ‘Women, know your limits’.

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Shine a light on hidden innovation

Posted on Wednesday 20 June 2018 by GovGrant

Hidden innovation needs to be brought out from the shadows and into the spotlight.

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If you’re selling a business, take time to understand your buyer

Posted on Tuesday 5 June 2018 by GovGrant

When you first begin to think about selling your business take some time to consider what your potential buyers will be looking for and what will make your company stand out from similar businesses for sale. After all, when you do sell you will want to achieve the best possible price so taking time to prepare and increase exit value will bring substantial rewards in terms of exit value.

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6 Degrees of Innovation

Posted on Tuesday 22 May 2018 by GovGrant

It is often said that you are only ever 6 steps away from anyone- in a world that small where information is now distributed in fractions of a second, the same must be said for Innovation. It begs the question that if innovation is readily available – what does it look like?

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Industry 4.0 A flashy catchphrase or the next industrial revolution?

Posted on Wednesday 16 May 2018 by GovGrant

The term “Industry 4.0” originates from a project in the high-tech strategy of the German government promoting the computerisation of manufacturing and adopted globally as a name for the current trend of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of Things, cloud computing and cognitive computing. Industry 4.0 introduces what has been called the “smart factory,” in which cyber-physical systems monitor the physical processes of the factory and make decentralised decisions.

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Dealing with a HMRC enquiry and building a robust claim

Posted on Tuesday 8 May 2018 by GovGrant

Innovation keeps the UK at the forefront of today’s ever-changing world and one step ahead of global competition. But it is a costly business and the Government recognises that through its Research and Development (R&D) Tax Credits scheme. This rewards business innovation by allowing additional corporation tax relief and/or cash refunds on qualifying expenditure incurred on innovation and R&D activities.

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Lessons to be learned from TSB meltdown

Posted on Tuesday 1 May 2018 by GovGrant

“We apologise for any inconvenience you might be experiencing. If you wish to make a complaint, please contact us. We’ll do our best to put things right.”

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Building a Green Room

Posted on Thursday 26 April 2018 by GovGrant

Due to the contribution it makes to carbon emissions the real estate sector is in the forefront of the shift to building “green” buildings. This has been driven by a mix of public sentiment and awareness, legislative pressure and technological advances.

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There’s a revolution going on way out west

Posted on Tuesday 24 April 2018 by GovGrant

It may be best known for cider and clotted cream, but there is a revolution going on in the South West of the UK with hi-tech companies springing up at a rate of knots.

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GovGrant in Europe’s top 100

Posted on Tuesday 17 April 2018 by GovGrant

Business innovation funding and tax relief specialist GovGrant has been shortlisted for a prestigious global award.

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R&D tax relief: what, when and how

Posted on Tuesday 3 April 2018 by studio@tuchdesign.com

If you have a company that does a lot of research and development, you will want to look into the R&D tax claims you can make. In some cases, you can get reimbursement for up to 33% of your development costs.

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R&D tax relief: is it worth the effort?

Posted on Tuesday 27 March 2018 by GovGrant

Getting a tax credit for making your business better and more efficient, or for bringing a new product to light, is a great thing. It can help you recoup costs that you had for the research and development projects you undertook.

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R&D spending, European trailblazers and Brexit implications

Posted on Thursday 22 March 2018 by GovGrant

The new official bulletin on R&D spending statistics makes for fascinating reading from a business point of view. Produced annually by the Office for National Statistics (ONS), figures in the Gross domestic expenditure on Research and Development, UK: 2016 are the latest available.

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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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What can make claiming a R&D tax credit complicated?

Posted on Tuesday 13 March 2018 by GovGrant

When assessing research and development projects, knowing which ones qualify for R&D tax credits can help you plan your strategy and budget. When spending money on these types of projects, it is important to understand how these credits are calculated, and what it could potentially mean for your business. Companies can currently claim up to 33% of their expenditures through R&D tax claims.

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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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Helping businesses access grant funding is a piece of cake for Richard

Posted on Tuesday 6 March 2018 by GovGrant

Richard Thompson has spent the largest part of his professional life offering help, support, and advice to small businesses.

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What to expect from GovGrant

Posted on Tuesday 27 February 2018 by GovGrant

Are you the owner of a small or medium-sized enterprise (SME) in the UK and think that you could be entitled to research and development tax credits? By working with GovGrant you can eliminate the costly guesswork involved in making R&D tax claims by yourself.

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Industrial Internet of Things: Now is the time to be bold

Posted on Tuesday 20 February 2018 by GovGrant

The statistics are truly mind-blowing and should act as a wake-up call to small and medium-sized enterprises (SMEs) across the UK. According to figures from The Centre for Economics and Business Research, the Industrial Internet of Things (IIoT) is likely to add an incredible £322 billion to the country’s economy over the next two years and create thousands of jobs in the process.

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Here’s hoping that Georgie will shine the spotlight on R&D

Posted on Friday 16 February 2018 by GovGrant

If I was being completely honest I am really not sure how I would react if a member of my team told me they were going to take a few weeks off from work so they could appear on a reality TV show. My immediate concern would be about how the actions of the person involved might affect the reputation of our business.

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What are the steps in completing an R&D tax credit?

Posted on Tuesday 6 February 2018 by GovGrant

If you are a business owner or manager with a company presence in the UK, you may be eligible for research and development (R&D) tax credits. At GovGrant, our consultants focus on helping you to maximise your R&D tax credit claim no matter the size of your business or your principal products and services. We will help you to follow these simple steps to make sure that you are getting the most from your claim.

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Technology has triggered an earthquake in the financial services world

Posted on Tuesday 30 January 2018 by GovGrant

Advances in technology and the ever evolving digital landscape have triggered what can only be described as a revolution in the normally conservative world of the financial services sector.

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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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Hertfordshire Business Awards 2017

Posted on Tuesday 21 November 2017 by GovGrant

GovGrant’s managing director Jeremy Tear has been judging the innovation category in this year’s Hertfordshire Business Awards and his visits to the shortlisted businesses have provided him with plenty of insights and inspiration.

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The Business Show 2017

Posted on Thursday 2 November 2017 by GovGrant

GovGrant is looking forward to exhibiting at The Business Show this year. This free business exhibition offers a wealth of opportunity, advice and information crucial for ongoing business growth within a challenging economy. The event is committed to providing you with everything needed to improve, evolve and expand your business.

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What’s in a name?

Posted on Friday 20 October 2017 by GovGrant

On 2 October 2017, GGTC, Capital Allowance Specialists and Patent Box Consultations starting trading as GovGrant – why?

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