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.
Van drivers across the country are benefiting from a continued reduction to their insurance premiums, contradicting the industry’s prediction of premium increases in the wake of the Ogden rate change, new analysis from data analytics company Consumer Intelligence shows.
Like many industries, financial services have felt the effects of uncertainty surrounding if, how and when the UK will leave the EU. There remain questions around EU regulations and how Brexit will impact financial services businesses from a regulatory perspective too. Take data protection, which was brought to attention last year with the introduction of the EU’s GDPR, and is today a big challenge for the industry.
Manufacturing firms claimed £1.25bn using R&D tax relief in the 2017-18 financial year, more than any other industry sector, a study from R&D tax credit experts, RIFT Research and Development reveals.