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.
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.
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.
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.]
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.
