Definitive guide to R&D tax credits

Whether your business is big or small, complex or simple, single or multi-site, GovGrant can manage your R&D tax claim from start to finish. As one of the oldest established innovation tax specialists in the UK GovGrant has a proven track record with HMRC. We have a well-established claim methodology giving us a 100% success rate. Here are some questions that we often get asked about claiming R&D tax relief. 
 

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

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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GovGrant urges separation of audit and consultancy in order to embrace contingent fees for consultancy services

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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Spotlight on software considerations in R&D

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

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

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

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

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?

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

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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Employment Law and Innovation Funding - upcoming Cambridge event

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

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

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

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

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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New government tax stats boost innovative UK businesses

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 welcomes new government initiative to help small businesses

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 featured in The Business Magazine

Entrepreneurial businesses can capitalise on their innovations by taking advantage of government incentives. R&D tax relief adviser GovGrant’s chief executive officer Luke Hamm tells Tim Wickham why more UK companies should consider claiming the relief and protecting their intellectual property.  

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Not enough insurtechs in FCA Sandbox - Insurance Times feature

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

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CEO featured in Insurance Times

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

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

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

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

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GovGrant featured in Insurance Edge

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

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?

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

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

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Can the government help fund your manufacturing business?

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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Dealing with a HMRC enquiry and building a robust claim

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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There's a revolution going on way out west

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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R&D tax relief: what, when and how

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?

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

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

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

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

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

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

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?

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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Getting rid of scheme would be patently wrong

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

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

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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