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Boom or bust? Brexit’s impact on innovation and R&D
Brexit will undoubtedly affect life in the UK in several ways. We discuss the potential implications of Brexit on UK innovation and the schemes designed to support it.
Turn business losses into financial gains with R&D tax credits
An integral part of any finance application, the cash injection of an R&D credit will strengthen the overall cash flow position and associated statements. In cases where an R&D claim solely reduces profit, it also reduces the Corporation Tax liability as mentioned earlier, providing some valuable breathing space by avoiding the need for a large one-off payment to be made to HMRC.
4 things your business does that qualify for R&D tax credits
When people think of research and development (R&D), they often picture large corporations or specialist science, tech or pharmaceutical companies. This explains why, despite the Government’s efforts to encourage innovation in UK industry through the introduction of R&D tax credits, only one in five (19%) of businesses that can be classed as being ‘innovation active’ have ever claimed money back for their time developing new products or processes.
How do you fund your innovation?
Most business owners would agree that innovation is critical to the growth and survival of their businesses. We explore opportunities to fund innovation with R&D tax credits and Patent Box scheme.
HMRC R&D tax credit statistics 2018: More companies gain more support
The latest HMRC R&D tax credit provisional statistics published in September present some interesting findings.
Using a specialist to reap the benefits of an innovative landscape
Theresa May recently made an important speech, devoted entirely to science and The Industrial Strategy. In the speech, Mrs May signposted that her government remains firmly committed to the ongoing promotion of innovation as a way of positively influencing the nation’s productivity levels and general economic health as global competition intensifies.
Innovation is for everyone, big or small
Gone are the days where innovation was only described as ground-shattering inventions, concepts or ideas which revolutionised the world we live in. Instead, today, many more recognise innovation as those smaller, incremental steps which offer fresh thinking on an existing problem, which in time deliver measurable impact.
Global Innovation Index 2018: What does it tell us?
The Global Innovation Index annually rank countries by their capacity for, and success in, innovation. Each year the report has a different focus, this year’s being “Energising the world with innovation”. In its 2018 release the UK has overtaken the US.