Today we launched Elevation, a new tool that allows accountants to take control of R&D tax claims and support them through the process with access to additional expert help and resources as required. Elevation is free of charge to our accounting partners. Elevation will help accountants drive the R&D tax conversation with clients. But more than that it will allow accountants to generate low-value R&D tax credit claims on behalf of their clients.
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R&D and innovation specialists GovGrant have today revealed the UK economy is failing to capitalise on its world-leading academic prowess and intellect by not translating its R&D into commercial gain and creating intellectual property (IP).
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It’s World Intellectual Property Day, a day to celebrate and educate the world about the role that intellectual property (IP) rights play in encouraging innovation and how, when employed successfully, an idea can become an IP asset to create business value and drive sustainable economic growth.
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In case you missed it, last week the European Patent Office (EPO) released its European Patent Index (EPI) for 2020 which saw the number of European patent applications filed at the EPO drop by 0.7% compared to 2019. If you would like to know more about what the European Patent Index is and why it is significant, please see my earlier blog post here. This is the last in a two part series that will dissect the data released in this year’s EPI and what it may reveal for the state of innovation for certain sectors within Europe.
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This week the European Patent Office (EPO) has released its much-anticipated European Patent Index (EPI) for 2020.
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Today is the UN’s “International Day of Women and Girls in Science”. As a business, GovGrant is at the heart of the innovation ecosystem it’s dispiriting to think that the UK could be missing out on the skills and expertise of a significant chunk of the population. Do we still need a day to promote STEM subjects for girls? Surely there is ample opportunity and the UK is ahead of this curve?
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We at GovGrant have 15 years’ experience of helping innovative UK companies, and their investors, achieve commercial value from innovation. With our Rocket into 2021 campaign, we are looking in-depth at the UK private capital markets, and how to help clients and investors improve cash flow and valuation in these difficult and volatile times.
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We all know how hard and volatile 2020 was for the UK economy. UK public equity indices crashed 30% from close to all-time highs over the period from January to March. They have since recovered at least half of the lost ground. The bounce back in the US, led by technology and high growth sectors, was much stronger and led to new all-time highs.
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Brexit? Is that still happening? Well yes, fortunately, or unfortunately (depending on which side of the fence you are on), and, consequently, there are changes to how certain aspects of the Intellectual Property (IP) system will operate in the UK on or after 1 January 2021. Here is your one-stop-shop for all things Brexit and IP post the end of the transition period:
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HMRC have recently announced changes to the rules for R&D tax credits for SMEs. The new rules have been designed to target perceived fraudulent claims using structures set up in the UK to claim a repayable credit even though no R&D work was actually carried out in the UK.
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Now that I have had some time to digest the recent update from HMRC in respect of the R&D tax credits and Patent Box statistics, there are three things that have stood out for me:
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As non-essential business begins to reopen after months of non-trading, and those on furlough start to return to work, many companies across the UK are pressing the ‘resume’ button in an environment with greater volatility than ever before. This will pose challenges on an unprecedented scale; therefore, companies will be doing all they can to ensure that there is enough cash available to weather the storm that is to come.
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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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The CEO of one of the UK’s leading innovation tax specialists has called for contingent fees to be fully embraced by clients seeking the best possible outcome for their R&D and innovation tax credits strategy. Luke Hamm, CEO of GovGrant, which specialises in helping firms claim tax credits from their innovation and intellectual property, which is then re-invested, said that contingent (or success fees) were a better means of deriving full value from a claim than fixed fees or hourly rates.

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GovGrant, the innovation tax credits specialist, has appointed Dominic Bartholdi as head of sales. GovGrant, [which is based in St Albans] helps businesses take advantage of government tax credits for innovation, R&D and intellectual property such as patents. The proceeds are then ploughed back into the businesses to generate more investment in innovation. Luke Hamm said Dominic’s arrival comes on the back of a record quarterly trading performance with turnover increasing by over 30% at the end of last year.

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Innovation tax specialist GovGrant is delighted to confirm today that it has been accepted as the research and development/intellectual property partner of Insurtech UK. GovGrant joins the 40+ insurtech startups and insurance-related businesses who have joined as associate members and partners since the Insurtech UK alliance – which plans to become a formal trade association in the next few months – informally launched in November 2018.

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

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

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

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