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Only 52,000 SMEs made R&D tax credit claims, according to new HMRC data
The latest figure from HM Revenue & Customs (HMRC) has revealed that more than 52,000 small and medium-sized businesses made research and development (R&D) tax credit claims in the 2018-19 tax year, but thousands more could benefit from this scheme. Due to the two-year period for making R&D claims, the information provided by HMRC is…
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New Government plan for commercialisation of knowledge and innovation launched
A new report released by the Government has set out a strategy that attempts to harness and achieve better value from £104 billion worth of innovation and knowledge assets within central Government The recently released Mackintosh Report covers a wide gambit of innovations developed by the Government and its partners, including many of the UK’s leading academic…
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UK invests £250m to maintain its relationship with key EU research and development scheme
The Government has announced that it will invest £250 million to remain part of the important Horizon Europe fund. The commitment of millions of pounds will help pay for the UK’s association with Horizon Europe, the European Union’s funding programme for research and innovation. A statement from the Department for Business, Energy and Industrial Strategy, said:…
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UK aerospace R&D sector gets £90 million boost
The Government has announced an investment in five aerospace projects to boost the creation of jobs and new innovations. The new project will look to revolutionise aerospace manufacturing in the UK by supporting state-of-the-art technology, including 3D printing machines, which the Government hopes will revitalise the hard-hit industry. The multi-million-pound investment in aerospace manufacturing was…
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UK announces zero-emissions innovation fund
The Department for Transport (DfT) has announced a new £20 million funding initiative to support innovative ideas for zero-emission vehicles in the UK. The DfT is due to launch a new research and development (R&D) competition in the field of e-mobility, to help “some of the most promising electric vehicle technology innovations”. This competition will…
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UK construction sector missing out on R&D tax credits
New analysis of HM Revenue & Customs (HMRC) latest R&D tax credit data shows that the UK’s construction sector accounted for just under six per cent of the UK’s R&D tax credit claims. With many innovations coming out of this important industry, experts feel that there could be greater potential for some companies to make…