Latest thinking | News announcements and corporate stories

R&D tax relief

Spring Statement 2025 – R&D tax relief policy impacts

Last week, the Chancellor Rachel Reeves delivered her Spring Statement. As a reminder, this Government’s fiscal framework aims for one Budget per year (usually in

Akshay Thaman | IP & Policy Lead 31 March 2025

HMRC tax and policy

Does the new merged RDEC scheme support FTT decisions?

After what seems to have been a long time coming, we are finally reaching the point where the merged R&D expenditure credit scheme will become

Luke Hamm | UK Managing Director 17 March 2025

HMRC tax and policy

HMRC releases new guidance on subcontracted and subsidised R&D activity

On 27 February 2025 HMRC released new guidance that clarifies the treatment of subcontracted and subsidised R&D activity under the SME scheme. This guidance marks

Deborah Chapple | Q&R Director 7 March 2025

Accountants

The role of professional standards in providing R&D tax relief services

Anyone involved in the R&D tax relief market will have experienced the volatility and changes the last two years have brought. Changes in rates, focus

Vicki Morrall | Accounting Partner Director 27 February 2025

Intellectual Property services

New One IPO Search replaces Ipsum

Ipsum now retired for a new state of the art UK search tool which is set to inspire innovation in the UK whilst also protecting

Louise Townsend | Intellectual Property Associate 25 February 2025

R&D tax relief

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

Akshay Thaman | IP & Policy Lead 1 November 2024

Our people

The importance of Mental Health First Aiders here at Source Advisors

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

Lynsey Mitchinson | Head of HR 10 October 2024

HMRC tax and policy

What are the Chancellors options when it comes to R&D tax relief?

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

Luke Hamm | UK Managing Director 30 September 2024

Accountants

R&D Claim notification form – key information

Updated January 2025 You will have heard that soon, in some circumstances, HMRC will need advanced notice of your intention to claim R&D tax relief.

Vicki Morrall | Accounting Partner Director 19 September 2024

Intellectual Property services

New financial support scheme from the UKIPO

The United Kingdom Intellectual Property Office (UKIPO) has recently launched a new financial support scheme for SMEs called IP Advance, this is a structured funding programme

Akshay Thaman | IP & Policy Lead 11 September 2024

R&D tax relief

Fraudulent behaviour in the R&D tax relief market – one sting is not enough

Anyone who is even remotely connected to R&D tax relief, or indeed tax and accounting more generally, will have now seen the excellent piece shining

Luke Hamm | UK Managing Director 30 August 2024

HMRC tax and policy

How to handle HMRC enquiries into R&D tax relief claims successfully

There has been a lot of angst in our industry about the rate at which HMRC has been opening enquiries. For Source Advisors’ clients who

Vanessa Cooper | Tax Director 15 August 2024

Intellectual Property services

Patent Box benefit delivered for Source Advisors’ clients

Source Advisors have been delivering Patent Box services to our clients since the scheme was launched in 2013. We have always known that any client

Alec Griffiths 24 July 2024

Our research

Regardless of who’s in power – can the UK actually win?

The election continues to be fought on many fronts and as we reach the final hurdle, a key theme is coming through loud and clear

Luke Hamm | UK Managing Director 2 July 2024

Accountants

Why has my accountant decided to outsource R&D tax relief claims?

Accountants are reflecting upon their ability and appetite to continue to offer R&D tax relief services to their client base. Some accountants may even be

Vicki Morrall | Accounting Partner Director 18 June 2024

R&D tax relief

What do the 2024 General Election Manifestos mean for innovation?

With the election in full swing and reaching a key point this week with the eagerly awaited manifesto launches, we look at what the Labour

Luke Hamm | UK Managing Director 14 June 2024

Accountants

How we work with our accountant partners

At Source Advisors, we believe that great partnerships are built on collaboration, transparency, and mutual growth. To make the most of our partnership, it’s crucial

Joshua Duff | Accountant Relationship Manager 3 June 2024

Our people

Source Advisors support recent CIPA patent event

Last week CIPA held an event in London, bringing together an expert panel of Judges, to share their insight into patent litigation. Source Advisors was

Akshay Thaman | IP & Policy Lead 8 May 2024

Accountants

What to expect when you partner with Source Advisors

In business, as in life, it’s important to choose your partnerships wisely. The choices you make when dealing with third parties reflect you as a

Sam Warren | Accountant Relationship Manager 11 March 2024

HMRC tax and policy

Clock is ticking to finalise the rules of the new merged R&D relief scheme

Earlier this month, HMRC released draft guidance around two key restrictions coming into force as part of the new merged R&D tax relief scheme scheduled

Akshay Thaman | IP & Policy Lead 29 February 2024

Accountants

Having the difficult conversations with our accounting partners and their clients

An increasing number of accountants are looking to partner with Source Advisors to provide a compliance-led, technically rich, R&D tax relief offering to their clients.

Vicki Morrall | Accounting Partner Director 12 February 2024

Our people

Source Advisors, previously GovGrant – new name, same commitment to R&D and IP consultancy services

On 1 February 2024, GovGrant became known as Source Advisors in the UK, and you’ll see that brand change in our documentation and digital presence. However, our

Luke Hamm | UK Managing Director 1 February 2024

HMRC tax and policy

What do UK tax leaders think of recent changes to the R&D tax landscape? Evolution or Revolution

At the end of November 2023, we held our second roundtable discussion. Following the success of our first event in April 2023, it is important

Luke Hamm | UK Managing Director 7 December 2023

R&D tax relief

What did the Chancellor announce in the 2023 Autumn Statement?

Confirmed date for the merged R&D tax relief scheme The headline news is that plans for a single R&D tax relief scheme, which merges the

Akshay Thaman | IP & Policy Lead 23 November 2023

R&D tax relief

What to look out for at next week’s Autumn Statement – November 2023

The Autumn Statement, a pivotal moment on the UK’s fiscal calendar, promises a glimpse into the government’s economic roadmap and policy priorities. With this year’s

Akshay Thaman | IP & Policy Lead 14 November 2023

Accountants

GovGrant expands Accounting Channel team to meet the increased demand of specialist R&D services

We recognise the many challenges that accountants are facing as the landscape of R&D tax relief changes. We have recently increased the size of our

Vicki Butler | Accounting Partner Associate 14 November 2023

Accountants

Being a Source Advisors company – what does it mean for our accounting partners

You’ll remember that on 31 March 2023, GovGrant was acquired by Source Advisors LLC an exciting step on our continuing journey as the UK’s authority

Vicki Morrall | Accounting Partner Director 4 October 2023

HMRC tax and policy

HMRC releases R&D tax relief and Patent Box statistics 2023

Yesterday HMRC released the latest statistics for the usage of the R&D tax relief and Patent Box schemes. Here’s an initial view of this year’s

Akshay Thaman | IP & Policy Lead 29 September 2023

HMRC tax and policy

HMRC aware of glitch in online RDEC claim submissions

As part of HMRC’s focus on the R&D tax relief scheme, an additional information form was introduced and is now a statutory requirement to complete

Vanessa Cooper | Tax Director 30 August 2023

Intellectual Property services

Debating the benefits of IP to life sciences – Cambridge University

In July 2023, I was honoured to be invited to the LMB-VBC Graduate Life Sciences symposium at the University of Cambridge, specifically to be a

Alec Griffiths 14 August 2023

Accountants

HMRC announcements on R&D – what accountants need to know

You may have seen that the R&D tax relief schemes have been in the news again, based on new activity and information from HMRC. For

Vicki Morrall | Accounting Partner Director 19 July 2023

R&D tax relief

R&D tax relief hits the headlines for the wrong reasons

You may have seen that the R&D tax relief schemes have been hitting the headlines again this week. There has also been a flurry of

Akshay Thaman | IP & Policy Lead 19 July 2023

R&D tax relief

UK innovation on a global stage – what does University of Cambridge report tell us?

In March 2023 the Institute for Manufacturing, University of Cambridge published the UK Innovation Report with the aim of benchmarking the UK’s industrial and innovation

Akshay Thaman | IP & Policy Lead 17 July 2023

Accountants

Elevation – our R&D tax credit portal for accounting partners.

At GovGrant  our relationship with our accounting partners is more important than ever and we want to make sure our knowledge and experience is offered

Vicki Butler | Accounting Partner Associate 7 July 2023

HMRC tax and policy

Advanced notification requirement – clarification from HMRC

You will have heard that soon, in some circumstances, HMRC will need advanced notice of your intention to claim R&D tax relief. We’ve been receiving

Clive Flood | Chief Operating Officer 3 July 2023

HMRC tax and policy

How is the pressure on HMRC impacting R&D enquiries?

A headline in The Times, Saturday 20 May 2023 stated “Brace yourself for more HMRC chaos” and warned that new tax rules would mean more

Vicki Morrall | Accounting Partner Director 7 June 2023

Accountants

What do tax leaders need to deliver R&D tax incentives to the most innovative companies in the UK?

The R&D tax relief advisory market is responding to ever-changing legislation, a more robust approach from HMRC, and uncertainties in future policy direction. Last week

Luke Hamm | UK Managing Director 3 May 2023

R&D tax relief

GovGrant partners with Source Advisors

Roll the clock back to 2006 and R&D tax was a thing people barely knew about. Compare that to now where it dominates the government

Luke Hamm | UK Managing Director 31 March 2023

Accountants

What accountants need to know about the R&D baseline

In the past accountants might have been comfortable dealing with the financial aspects of an R&D tax relief claim, but may have felt less qualified

Vicki Morrall | Accounting Partner Director 27 March 2023

R&D tax relief

Spring Budget 2023 – our initial response

What did the Chancellor announce in the Spring Budget today? The R&D tax relief schemes were again mentioned by The Chancellor of Exchequer, Jeremy Hunt

GovGrant 15 March 2023

Accountants

What do accountants need to know about HMRC’s OTM compliance checks into R&D tax relief?

From the conversations that I’ve had recently, many accountants have noticed a change in stance from HMRC whose approach has become more forceful and their

Vicki Morrall | Accounting Partner Director 7 March 2023

Accountants

Does it still make sense for accountants to keep R&D tax relief in-house?

With increased scrutiny of the R&D tax relief scheme by HMRC, accountants are having second thoughts about keeping this service in-house. Is now the time

Vicki Morrall | Accounting Partner Director 7 February 2023

HMRC tax and policy

What does a good technical report look like?

Unsurprisingly, HMRC are turning up the heat on R&D tax relief claims, and what was once deemed a quick win by business owners, accountants, and

Luke Hamm | UK Managing Director 6 February 2023

Accountants

How should accountants deal with HMRC enquiries into their clients’ R&D tax relief claims

As we move into a New Year there seems to be rumblings of concern from several accountants about the changes within the R&D tax relief

Vicki Morrall | Accounting Partner Director 18 January 2023

R&D tax relief

Contingent fees – a positive sign that we’re aligned to our clients

In recent press coverage, I’ve noticed that some commentators have used the term “no win, no fee” as a derogatory indicator of poor practice. That

Luke Hamm | UK Managing Director 25 November 2022

HMRC tax and policy

Autumn Statement 2022 – our initial response

What did the Chancellor announce in the Autumn Statement today? The R&D tax relief schemes were specifically mentioned by The Chancellor of Exchequer, Jeremy Hunt

Luke Hamm | UK Managing Director 17 November 2022

R&D tax relief

Firms cash in on questionable tax credits – our thoughts

You may have seen an article in The Times this weekend, titled ‘Free money from HMRC’: firms cash in on questionable tax credits. The article

Luke Hamm | UK Managing Director 2 November 2022

Our people

Luvo acquisition – one year on

In 2021 we announced the acquisition of Luvo Financial by GovGrant. Both parties recognised this as a significant opportunity as the R&D market consolidated. One

Vicki Morrall | Accounting Partner Director 25 October 2022

HMRC tax and policy

HMRC releases 2022 statistics for R&D and Patent Box tax relief

The latest statistics showing the value of R&D tax relief and Patent Box were published by HMRC today. What does an initial look at this

Luke Hamm | UK Managing Director 29 September 2022

R&D tax relief

Does claiming R&D tax relief always stack up financially?

Core to this question is balancing the cost of making a claim vs the benefit your business receives in tax relief. Of course, this depends

GovGrant 20 September 2022

Intellectual Property services

Taking the fear out of IP

Businesses shouldn’t be intimidated by the legal and academic jargon surrounding Intellectual Property (IP). Here at GovGrant we are changing the conversation and provide a

Tanya Rahman | Junior Intellectual Property Analyst 30 August 2022

Our people

GovGrant wins Best Place to Work at the UK Business Awards 2022

We are proud to announce that GovGrant has been named Best Place to Work by the UK Business Awards 2022. Our people are our greatest

Lynsey Mitchinson | Head of HR 25 August 2022

R&D tax relief

Are Scottish businesses still missing out when it comes to R&D tax relief and Patent Box?

We know that businesses in Scotland have a proud tradition of innovation and invention but are Scottish businesses benefitting fully from HMRC’s innovation incentives? These

Colin Barr 9 August 2022

Our research

Small Business Equity Tracker – how are the UK’s innovative SMEs faring?

The British Business Bank recently published the latest news from the Small Business Equity Tracker. We take a look at the detail to find out

Luke Hamm | UK Managing Director 26 July 2022

HMRC tax and policy

Legislation Day – HMRC’s draft changes to R&D tax relief schemes

Yesterday (Wednesday 20 July) was what HMRC refer to as Legislation Day, on which they publish the draft legislation changes that have now been submitted

Clive Flood | Chief Operating Officer 21 July 2022

Our research

Launch of our latest research into Innovate UK performance

We have just released our latest research report, a deep dive analysis into the performance of 18 years of Innovate UK investments, with successful applications

Luke Hamm | UK Managing Director 21 July 2022

HMRC tax and policy

UK Digital Strategy – full on intent but lighter on new policy

The UK Digital Strategy policy paper was published on 13 June 2022. It reconfirms the government’s intent to make the UK the best place in

Luke Hamm | UK Managing Director 30 June 2022

R&D tax relief

Get ahead with your R&D tax relief

Your R&D tax relief claim can’t be an afterthought For too long, and for too many, R&D tax relief has been a tick box exercise

GovGrant 22 June 2022

HMRC tax and policy

Response to R&D Tax Reliefs Consultation – further information 2022

There were a number of proposed changes relating to the R&D scheme in the Autumn budget 2021. In the Autumn HMRC published their proposals and

Luke Hamm | UK Managing Director 14 February 2022

R&D tax relief

What’s changing in the R&D tax relief market?

The conversation that GovGrant has been having with our clients over the last 5 years has evolved. We started with “have you heard about R&D

Luke Hamm | UK Managing Director 9 February 2022

R&D tax relief

How to select the right R&D advisor for your business?

There are currently a lot of players in the exceptionally crowded space of R&D tax credits. As a consequence, there are probably a lot of

Luke Hamm | UK Managing Director 9 February 2022

R&D tax relief

Tomcat SNI – inventions with a social purpose

When the words ‘R&D tax credits” are mentioned, people often think of white lab coats, test tubes, and rocket ships. Whilst these activities are likely

GovGrant 5 January 2022

HMRC tax and policy

Latest R&D tax relief scheme changes, as announced in the Autumn Budget 2021

What was announced in the Autumn Budget 2021 concerning R&D tax credits? Following on from that consultation reforms that were announced in the Autumn Budget

Luke Hamm | UK Managing Director 2 December 2021

HMRC tax and policy

Budget 2021: What does it mean for R&D and innovation?

The Chancellor of the Exchequer, Rishi Sunak, presented his Autumn Budget and Spending Review to Parliament on Wednesday 27 October 2021. There were very few

Luke Hamm | UK Managing Director 10 November 2021

HMRC tax and policy

Day of reckoning for unscrupulous R&D tax providers as HMRC comes calling

The latest statistics showing the value of R&D tax relief were published by HMRC in October 2021. And as we noted at the time the

Luke Hamm | UK Managing Director 4 November 2021

Our people

Countdown to COP26

It probably hasn’t escaped your notice that the UK is hosting the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow at the

Colin Barr 21 October 2021

HMRC tax and policy

HMRC’s statistics for R&D and Patent Box tax relief – GovGrant commentary

The latest statistics showing the value of R&D tax relief and Patent Box were published by HMRC yesterday. What does an initial look at this

Luke Hamm | UK Managing Director 1 October 2021

Our people

GovGrant finalists in the Lloyds British Business Excellence and The Business Culture Awards

GovGrant has been announced as a finalist in two categories of the Business Culture Awards, for Best Working Environments & Practices Initiative and Best Small

Luke Hamm | UK Managing Director 16 September 2021

Accountants

Proud to launch Elevation at the Digital Accountancy Show

GovGrant recently exhibited at The Digital Accountancy Show, a one-day exhibition specifically focussed on digital transformation and the app ecosystem. It was great to meet

Sharon Veness | Accountant Partnerships Manager 8 September 2021

Our people

GovGrant acquires Luvo Financial as the R&D tax credit market consolidates

GovGrant, the R&D and IP specialists, has today announced the acquisition of Luvo Financial. GovGrant sees this as a significant opportunity for both parties as

GovGrant 1 September 2021

Accountants

Meet us at The Digital Accountancy Show

The Digital Accountancy Show is a one-day exhibition specifically focussed on digital transformation and the app ecosystem. It’s happening 1 September 2021, at Tottenham Hotspur

Sharon Veness | Accountant Partnerships Manager 25 August 2021

Intellectual Property services

The UK government is right to put IP at the heart of new innovation strategy

At the end of July, the Intellectual Property Office (IPO) announced that a strong intellectual property system will be key as the UK aims to

Luke Hamm | UK Managing Director 11 August 2021

Accountants

GovGrant launches Elevation to empower accountants with R&D and IP

Today we launched Elevation, a new tool that allows accountants to take control of R&D tax claims and support them through the process with access

Sharon Veness | Accountant Partnerships Manager 8 June 2021

HMRC tax and policy

Is the UK’s flagship industrial policy a costly failure? No way!

A recent report by David Connell, Senior Research Associate, Centre for Business Research Cambridge Judge Business School, seeks to reappraise the objectives of the R&D

Luke Hamm | UK Managing Director 2 June 2021

Our research

GovGrant launches CBI Economics analysis – Prosperity Pending

R&D and innovation specialists GovGrant have today revealed the UK economy is failing to capitalise on its world-leading academic prowess and intellect by not translating

Luke Hamm | UK Managing Director 2 May 2021

Our people

GovGrant supporting Made in Scotland Awards 2021

GovGrant is delighted to be supporting the Business Insider Made in Scotland Awards. We will be sponsoring the Innovator of the Year category. This award

Derek Granger 28 April 2021

Intellectual Property services

Intellectual Property Day – Unleashing the true value of IP for UK’s SMEs

It’s World Intellectual Property Day, a day to celebrate and educate the world about the role that intellectual property (IP) rights play in encouraging innovation

Akshay Thaman | IP & Policy Lead 26 April 2021

Our research

The European Patent Index 2020: Analysis of the numbers

In case you missed it, last week the European Patent Office (EPO) released its European Patent Index (EPI) for 2020 which saw the number of

Akshay Thaman | IP & Policy Lead 25 March 2021

Our research

The European Patent Index 2020: An insight into European innovation trends

This week the European Patent Office (EPO) has released its much-anticipated European Patent Index (EPI) for 2020.

Akshay Thaman | IP & Policy Lead 17 March 2021

Our people

Have you heard us on the radio?

As an innovative SME ourselves we are always looking for new ways to get our message out there to UK businesses. During the first lockdown,

GovGrant 10 March 2021

HMRC tax and policy

Budget 2021 – what it means to innovative companies in the UK

The Chancellor had a tough task today in dealing with the short term needs and long term recovery that Covid-19 necessitated. It is encouraging to

Luke Hamm | UK Managing Director 3 March 2021

HMRC tax and policy

Blue sky thinking – we’ve never needed it more

First announced nearly a year ago, as part of the 2020 budget, it seems that the government is set to go ahead with the £800m

GovGrant 23 February 2021

Intellectual Property services

Is there a gender gap in innovation?

Today is the UN’s “International Day of Women and Girls in Science”. As a business, GovGrant is at the heart of the innovation ecosystem it’s

Luke Hamm | UK Managing Director 10 February 2021

Our research

Rocket into 2021 | Part 3

Over 2020, through the Covid crisis, we at GovGrant helped almost one thousand innovative UK companies, and over hundred investors, achieve value and investment returns

Somil Goyal | Investment Lead 3 February 2021

Our research

Rocket into 2021 | Part 2

We at GovGrant have 15 years’ experience of helping innovative UK companies, and their investors, achieve commercial value from innovation. With our Rocket into 2021

Somil Goyal | Investment Lead 22 January 2021

Our research

Rocket into 2021

We all know how hard and volatile 2020 was for the UK economy. UK public equity indices crashed 30% from close to all-time highs over

Somil Goyal | Investment Lead 14 January 2021

HMRC tax and policy

The new cap on the SME R&D tax credit scheme

Further to our blog outlining the impacts of the Finance Bill 2021 we have received an update to the guidance on the new SME cap

Stephanie Taylor | Senior Tax Manager 7 December 2020

Our research

All I want for Christmas is vaccines

The past couple of weeks have been littered with announcement after announcement about vaccines, Pfizer & BioNTech, Moderna, and Oxford University & AstraZeneca. All have

Adam Simmonds | Investment Research Analyst 2 December 2020

Intellectual Property services

Changes in Intellectual Property practices post-Brexit

Brexit? Is that still happening? Well yes, fortunately, or unfortunately (depending on which side of the fence you are on), and, consequently, there are changes

Akshay Thaman | IP & Policy Lead 2 December 2020

R&D tax relief

R&D tax credit calculator – What is it really telling you?

We know that a lot of competitors have a “calculator” on their website or examples of R&D claims. We’ve never felt that this was necessary,

Luke Hamm | UK Managing Director 19 November 2020

Intellectual Property services

The Patent wake-up call

For the first time ever, HMRC have independently reviewed the Patent Box scheme to understand if it is an effective tool in the government R&D

Luke Hamm | UK Managing Director 18 November 2020

HMRC tax and policy

Finance Bill 2021 – impact on R&D tax credits

HMRC have recently announced changes to the rules for R&D tax credits for SMEs. The new rules have been designed to target perceived fraudulent claims

Stephanie Taylor | Senior Tax Manager 13 November 2020

R&D tax relief

HMRC report failings in R&D tax credit claims

HMRC recently reported on the outcome of a first-tier tax tribunal case investigation into an R&D tax claim, in the case of Hadee Engineering Co

Stephanie Taylor | Senior Tax Manager 28 October 2020

HMRC tax and policy

Three challenges revealed in this year’s HMRC statistics

Now that I have had some time to digest the recent update from HMRC in respect of the R&D tax credits and Patent Box statistics,

Luke Hamm | UK Managing Director 6 October 2020

HMRC tax and policy

Latest R&D tax credits and Patent Box statistics are out

The latest Research and Development Tax Credits and Patent Box statistics have been released today by HMRC. It’s encouraging to see a year-on-year increase in

Luke Hamm | UK Managing Director 30 September 2020

R&D tax relief

When is a disruptor really a distraction?

I am a change agent, always have been. I love to challenge the status quo of our business, with a drive to improve the outcomes

Luke Hamm | UK Managing Director 22 September 2020

R&D tax relief

Furlough and R&D tax credits: Can you claim relief?

We have had some clarification from HMRC on how companies furloughing staff deal with claims under the SME R&D tax relief or Research and Development

Vanessa Cooper | Tax Director 16 September 2020

Accountants

Inside Accountancy podcast: Targeting tax incentives

As businesses look to recover from this year’s crisis, investment in R&D is a vital step for a sustainable UK economic recovery. In their latest

Luke Hamm | UK Managing Director 8 September 2020

HMRC tax and policy

The need for regulation in R&D tax advisors

There has been much talk about the regulation surrounding R&D tax advisors and it is a welcome conversation. I would love to work with like-minded

Luke Hamm | UK Managing Director 7 September 2020

R&D tax relief

Are Scottish businesses missing out when it comes to R&D tax incentives?

In the UK companies are able to claim tax relief for their R&D activity. This government scheme is designed to boost innovation by supporting businesses

Derek Granger 21 August 2020

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