Grantica

As you plan your upcoming R&D projects, understanding which costs qualify for tax relief can make a significant impact on your budgeting decisions. Ensure you're maximising your claims and optimising your financial strategy. Stay ahead of the curve — subscribe to our weekly newsletter for clear, actionable insights into HMRC tax relief schemes. Simplify your R&D planning with the latest updates delivered straight to your inbox!

Sir Fraiser Stoddart, a Chemistry Nobel laureate, has died at 82. He was a pioneer in the field of chemistry, whose groundbreaking work paved the way for numerous advancements and innovations.   He was well known for his work on design and synthesis of molecular machines, for which he was awarded the 2016 Nobel Prize in Chemistry along with Jean-Pierre Sauvage and Bernard L. Feringa. These molecular machines have far-reaching potential applications in various fields, including new materials, energy storage, sensors, nanotechnology and medicine. Sir Stoddart leaves behind a great legacy, as his pioneering work in chemistry and nanoscience has advanced understanding of these fields and further created new opportunities for future research and application.

The New Year is a perfect time to review your previous year’s research and development activities and plan for future projects. By doing so, you can ensure continued funding streams back into your business through R&D innovation incentives. Check out this week's Tax Relief Roundtable to find out if you are getting all of your legitimate costs in your R&D claims!

Pleased to see our Managing Director, Shaun Bartle, featured in this months South West Business Insider edition! Shaun's input is focussed on how IP is becoming an increasingly important factor when claiming R&D tax relief. Check out the article below 👇 https://lnkd.in/eHixMcUe

In an attempt to curb the misuse that the R&D tax credit system has historically faced and the high degree of non-compliance for SME claims <£30k of qualifying expenditure, HMRC have increased their level of scrutiny, affecting small and medium-sized enterprises (SMEs). The industry has seen many legitimate claimants face lengthy compliance investigations. This shift is causing a decline in the services of R&D advisers, and, given the landscape, genuine claimants have been put off making R&D claims. Over the past two years, here at Grantica, we have developed the first assessment framework specifically tailored for R&D activities. This framework introduces objectivity to the evaluation process by offering a standardised method for identifying and validating R&D efforts. Additionally, it incorporates a certification system to reduce subjectivity, aiding both businesses and HMRC in ensuring accurate and consistent assessments. This framework provides a robust methodology to claiming R&D tax relief, helping to streamline the process in the event of a future compliance check. As part of our R&D tax service, we offer complimentary enquiry defence, providing full support in the event that a claim is subject to an investigation. If you’re interested in learning more, require support in respect to a HMRC enquiry or want access to the Grantica framework (GRDF), please reach out to Shaun Bartle or Laura Elliott.

Very pleased that our Managing Director, Shaun Bartle, was featured in this months Business News Bristol! Check it out below 👍 https://lnkd.in/ef8buuVV

Our Growth Director, Gray, had the pleasure of attending The Newport Cut on Friday — a fantastic celebration of film, showcasing talent across all levels. From 10-second animation snippets to the stunning Rebels & Renaissance, Keefa Chan’s directorial debut, the evening was a testament to creativity and innovation. Hosted by Ffilm Cymru Wales, the event highlighted Newport’s dynamic contributions to the creative industries. With its eclectic energy and rebellious spirit, Newport is the perfect stage for a bold, forward-thinking arts scene. Bravo to everyone involved!

Big news for the indie film world! 🎬   Starting with productions that began after 1 April 2024, a new Independent Film Tax Credit will be available, offering a rate of 53% — significantly higher than the existing rates for other film (34%) and animation (39%) production credits.   This is a huge win for independent filmmakers, as it recognises the unique challenges faced by smaller productions and provides more generous support to bring these stories to life.   To qualify for the Independent Film Tax Credit, productions must: - Have core expenditure below £15 million. - Meet cultural test requirements, which assess factors like key talent, directorship, or alignment with UK cultural content. While these changes apply to expenditure incurred from 1 April 2024, the first claims will only be made after 1 April 2025.   For indie creators, this could mean more resources to focus on storytelling, innovative production methods, and building careers without compromising on vision or values.   If you’re in the indie film industry, now’s the time to start planning. Understanding the new credit structure and how your production can qualify is critical.   We’d love to hear your thoughts — how do you see this impacting the independent film community? And if you have questions about navigating the updated tax relief landscape, let’s chat! Gray Burke-Stowe is our Creative Industries specialist, and he'd love to hear from you.

🏗️ Is Your Construction Business Making the Most of R&D Tax Credits? 💡 🔍 Potential Areas for Eligible R&D: - Sustainable Materials: Developing or testing new eco-friendly materials for construction. - Advanced Building Techniques: Innovating with new construction methods or improving existing ones. - Structural Engineering: Solving complex structural challenges in unique or large-scale projects. - Energy Efficiency: Designing and implementing new ways to reduce energy consumption in buildings. 🔧 Common R&D Challenges in Construction: - Technical Uncertainty: Facing unknowns when working with new materials or construction techniques. - Compliance & Regulations: Navigating the complexities of meeting regulatory standards while innovating. - Project Integration: Integrating new technologies or methods into traditional construction practices. - Cost Management: Balancing innovation with budget constraints while maintaining project viability. Maximise your claim and tackle these challenges with the support of R&D tax credits! 🌟 Please contact Shaun Bartle or Laura Elliott to discuss further on how Grantica can assist you with your R&D tax credit claims... 🤝 #Construction #ConstructionIndustry #tax #uktax #uktaxcredits #researchanddevelopment #randd #corporationtax #businessgrowth #growth #money #cashflow #ceo #managingdirector #cfo #financedirector #operationsdirector

🔧 Could Your Manufacturing Projects Qualify for R&D Tax Credits? Do NOT miss out! 💡 If your manufacturing company is developing new products, improving processes, or experimenting with materials, you could be eligible for R&D tax relief. The R&D tax relief can reduce your tax liability or provide cash to reinvest in innovation. 🔍 Key Costs to Claim: - Staffing Costs: Gross salaries (wages, overtime payments and cash bonuses), employer national insurance contributions, and employer pension contributions for your R&D team. Certain other costs such as reimbursed R&D expenses may also be eligible for inclusion into an R&D claim. - Materials & Consumables: Materials which have been consumed or transformed in the R&D process (these are limited to consumables that have not gone on to form part of a final product that is sold). Prototypes may also be eligible for inclusion into an R&D claim. A proportion of water, fuel and power costs may also be eligible for inclusion into an R&D claim. - Software: Expenses for software licenses directly related to R&D, it may be possible to also include data licenses and cloud computing costs in your R&D claim. - Subcontractor (third party costs): Depending on the R&D scheme that the Company will need to claim under, will determine the extent to which these costs can be included in a claim and certain restrictions may apply. - Externally provided workers : examples include temp workers / agency staff who are directly and actively engaged in R&D activities. There are specific requirements and restrictions, that need to be met for these payments to be eligible. Maximise your claim and fuel your next breakthrough! 🌟 Discover how Grantica can help streamline your R&D tax relief claims and save you valuable time. Get in touch with Shaun Bartle or Laura Elliott today to learn more! Let's drive innovation together. 🌟