Autumn Budget 2024 – implications for R&D
There is no doubt that the Chancellor outlined a big budget on 30 October. But from the point of view of R&D tax relief and Patent
In the UK companies are able to claim tax relief for their R&D activity. With our thorough understanding of the R&D ecosystem, our technical capability and our compliance led approach, we create value to our clients by identifying their R&D and creating a robust claim.
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We see your IP through a commercial lens – to look both inside your business and externally at your industry and competition. Our services include Patent Box which allows innovative UK businesses to benefit from a reduced Corporation Tax rate on profits related to their patented technology.
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*The remaining 10% includes clients who no longer carry out R&D, ceased to trade, or have been acquired.
Source Advisors are easy to talk to and you’ll be surprised by how easy, and valuable the exercise will be for your business.
Roly Holt | Managing Director, R&L Holt
Our experience with Source Advisors has been fantastic. Having previously worked with another specialist within the industry, I can honestly say that Source Advisors go above and beyond for their clients and the results speak for themselves.
Angus Elphinstone | CEO and Founder, AnyVan Ltd
Identifying exactly what qualifies as R&D is not easy. We’d claimed ourselves twice before, but the experts almost doubled the value of what we received.
Stanley Wilson | CEO, Urban Cottage Industries
I liked the way my analyst understood our company’s activities and which ones qualified for the R&D scheme.
Paul Riley | Managing Director, Computer Controlled Solutions Ltd
…extremely efficient and able technical analyst, who asked the relevant questions…
Sue Goodchild | Managing Director, Goodchild Marine
Source Advisors skilled IP professionals have subsequently identified patentable elements around process developments which will ultimately enable us to broaden the scope of revenues that go into our annual Patent Box claim.
RL Hartshorn | Managing Director, HL Plastics Limited
Being able to claim money back from the taxman for work we did to advance our internal manufacturing processes as well as the end customer experience is very welcome.
Andrea Rodney | Managing Director, Hone-All Precision Ltd
Source Advisorsinvestigative work is impressively thorough and in depth. I would highly recommend them.
Paul Mousley | Project Manager, Quartz Technical Services Ltd
We are so pleased with the Source Advisor service that we now introduce companies within our network.
Andrew Maley | Managing Director, Tracware Ltd
…we were able to “relax”, knowing their Analyst’s technical knowledge gave us the best chance for successful IPO patent grant…
Clive Paul | Managing Director, TES Ltd
My words of advice would be; you may think that only scientific or manufacturing type companies qualify for R&D tax credits but that couldn’t be further from the truth.
Martyn Jupp | CEO, Veriserv Ltd
The information they gave us and support along the way was excellent. They are a very good partner.
Mark Barrett | Managing Director, Warden Plastics
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When we think of R&D activity it could well be that scientific or engineering firms come to mind. This sector includes pharmaceutical and biotech activity, alongside many other businesses that have R&D at their core.
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Increasingly construction businesses are innovating in their use of green or sustainable methods. R&D often leads to an improvement in existing construction techniques to solve site specific or environmental issues.
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In this sector innovation can come from process improvements, production improvement and scalability and quality control. Many agricultural businesses are building new processes to reduce waste or reuse waste products in novel ways.
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Innovative businesses in this sector include financial service activities such as insurance, reinsurance and pension funding activities, and business activities to support financial services.
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There is no doubt that the Chancellor outlined a big budget on 30 October. But from the point of view of R&D tax relief and Patent
On this World Mental Health Day it’s timely to acknowledge the importance of mental health here at Source Advisors. With the increasing recognition of mental
Every year, HMRC publishes statistics to show how the R&D tax relief schemes are being used. In recent years the focus has been on the