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R&D Tax Credit Claims Hit New High – Is Your Business Eligible?

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R&D Tax Credit Claims Hit New High – Is Your Business Eligible?

R&D tax relief claims see a rapid increase

Newly released statistics from HMRC show that businesses are rapidly taking up the incentive to claim for R&D tax credits. In 2015-16, claims increased by 25 per cent, with a whopping £3.7bn being claimed by large and small companies across the nation.

Further, the latest figures from HMRC show that 39,960 claims have been made for 2016-17 – a significant increase compared to the 26,255 that were reported for 2015-16 at the same time last year. Small and medium-sized businesses in particular are taking advantage of the relief, with 34,060 having claimed in 2016-17 compared to just 15,585 in 2013-14.

This is great news for the UK’s economy – it shows that organisations are continuing to invest in research and development, keeping us at the forefront of innovation.

Is your work eligible?

The majority of claims, however, have come from only three sectors. Organisations in the finance and insurance industries, for example, fall behind, while those in manufacturing comprise a significant proportion of the total businesses who claimed.

With the average claim reaching £53,000, there’s a huge benefit – especially to smaller businesses – in claiming relief. Many still believe that their work isn’t eligible, but R&D tax credits aren’t reserved for science laboratories, manufacturers and construction firms. The food and drink industry, for example, innovates all the time, agricultural businesses can claim, as can those leading developments in land remediation.

In order to qualify for the relief, your business must simply be seeking to advance knowledge by resolving technological or scientific uncertainties. These advancements must be those that a competent professional in the field could not readily make.

The requirements are deliberately vague, so that a wide range of projects can reap rewards. Examples include:

  • Developing new processes or modifying existing ones to improve efficiency or performance
  • Creating packaging that increases food shelf life
  • Developing gluten-free or lactose-free foods
  • Adapting materials for subsea or arctic conditions

These are a mere handful of projects that would qualify for the relief. To check if your project is eligible, simply contact an R&D tax solutions expert with the details of your activity and they can indicate whether or not a claim is likely to be successful.

What costs qualify?

Of course, only certain costs qualify for the relief. These include staff wages, pension contributions and NI contributions – which must reflect the proportion of time they spend on the project; materials used in connection with the project and utilities such as water and electricity that were used directly for the activity.

Again, speaking to a specialist R&D tax advisor will help you work out which costs you can claim for and make the process of applying much simpler.

With such significant rewards available, can you afford not to claim money back for your investments into innovation?…

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Different Ways That Smartphones Can Make Great Business Phones

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Different Ways That Smartphones Can Make Great Business Phones

If you are looking for a good business phone, look no further than the smartphone. There are many reasons that a smartphone is a good business phone. If nothing else, it is very good for your business if you know how to use it right. For one thing, there are many ways that you can build a business with the use of your smartphone. The only thing is that you have to have the patience and the discipline to be able to pull it off.

One way that a mobile phone can make a great business phone is through social media. Social media has become one of the types of sites that are accessed almost primarily by phone. As a matter of fact, one of the best ways to be diligent and prolific on social media is with the use of your smartphone. You can just turn on to your favorite social media platform and just network with various people according to your interests. This can give you the following you need to get your business going. You can also get involved in other activities that can turn out to be profitable for your business.

Another way that your smartphone can make a great business phone is if you are running a texting-based business. There are some businesses that are being founded based on texting. If you can find a way to get a business going that is based on texting, then you can experience a lot of benefits that come with this type of business. One of the major benefits of having a smartphone business is that you can take your business with you anywhere you go

Another good thing that smartphones can help with when it comes to business is that it can help you change your mindset. When you are thinking about ways to run a business from your smartphone, you are also thinking about ways to give your users an experience that will keep them coming back. Of course, one of the best ways that smartphones can make great business phones is that you can talk to people on the phone. This includes clients and business partners that you can share your ideas and advice with.

One thing to consider is that only certain businesses can be run from a smartphone. Otherwise, you are going to have to get a full computer system which includes a laptop or a desktop. You are also going to have to look for some business phone services or systems such as Alink Voip Telephone Systems. Even for businesses that can’t be run solely through the phone, the business phone is an important part of business.

One thing that you do need in order to successfully run a business is innovation. You have to be able to think outside of convention in order to come up with solutions that will make you a fortune. You also need the right tools to run your business. These include tools that you can …

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How To Maintain Work-Life Balance As a Startup Founder

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1. Saying no

I’ve recently understood the power of a simple ‘no’, and drawing boundaries. Relationships formulated on trust and mutual understanding are the ones that take you forward. It is important to remind yourself of why you’re doing a certain job, or why you’d take on a certain client assignment. It needs to add value and not drain you out. There are times where you may choose to say no. Relationships that are trustworthy and strong will not get tarnished by this. Talking to another entrepreneur today, she said simply, “I can’t work with people that I don’t like”.

While this person has been in business for a while, and not every Startup founder can say that (especially when it’s a B2C business), it made me think. We spend a lot of energy trying to convince people of our ideas at times. Sometimes, it is indeed better to stay within the niches where people love our work and collaborate in a way that helps us stay more creative. Although this might sound like HR metric manipulation, it’s important to stay true to ourselves and say ‘no’ where we feel our ideas will get compromised in ways that we don’t like. After all, I thought, even when I am a founder and taking the big risk, why do I need the experiences of the usual 9-5 job where I can’t control it? I am a “yay-sayer”, but every now and then, saying ‘no’ is a good step to keep up my sanity. Here are some other things to help keep your sanity:

How To Maintain Work-Life Balance As a Startup Founder_worldwifeindo

2. Walking in the forest

Shinrin-Yoku is a Japanese technique meaning forest bathing. Walking through nature clears up your head, relaxes you and makes you feel creative. Having done this for a 30 odd day period as a habit forming project, I can say this works. When I am dead tired or can’t think of anything creative, I go for a walk in the forest behind my house. And just walk till my legs feel the pressure. It’s a different me that comes back to the work-desk. There are plenty of such exercises to stay more energized and creative, and it’s been proven often that physical activity makes a huge difference to our lifestyles. Whether you go for a run, or a short walk, the point is to remain consistent and stick with something.

3. Keeping the phone away

My friend, and a startup CEO, told me this: “in a Startup, you are almost working 24/7. It’s hard to balance so many things with personal life. I love spending time with nature and without my phone at least for a couple of hours per week. I have learned that not carrying a phone in your free or personal time is always so much better. Otherwise you end up working and looking up different things about your work. Simple but an extremely valuable trick.”

I admit that I struggle with this one. Most times even while walking I carry

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Health Insurance Covers Offered by Oriental Insurance

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Health Insurance Covers Offered by Oriental Insurance

Health Insurance covers the expenses related to hospitalization and medical expenses. When the coverages are cashless, the insurance plans make your life affordable. Oriental Health Insurance offers all the benefits through its insurance plan anyone would ever want. The plans offer coverage according to the type of plan chosen and premiums paid for the same.

All the Oriental Health insurance plans provide standard coverages. Some of the coverages are listed below.

  • The Health insurance plans cover In-patient hospitalization expenses such as room rent, boarding, and nursing, ICU charges, Surgery related charges, medical practitioner’s fee, medicines etc.
  • Provides coverages for Pre-hospitalization expenses incurred 30 days pre-hospitalization.
  • All the expenses within 60 days of the post Hospitalization.
  • Provides you daily cash benefits for the sum assured.
  • Covers a limited domiciliary treatment expenses based on the plan chosen.
  • As listed in the policy plan, Daycare treatment or procedures are covered.
  • The plans also cover surgical expenses incurred.
  • Comprehensive coverage such as Maternity Cover, Newborn baby cover.
  • As specified under the policy chosen, convalescence Benefit is paid to the insurer.

The coverages offered to vary according to different plans. However, most of the plans offer the above coverages. There are several health insurance plans online offered by the oriental insurance company.

The health insurance plans are eligible for expenses such as expenses related to the surgeon, Anesthetist, Medical practitioner, consultations, purchase of anesthesia, blood, oxygen, Operation theatre charges, surgical appliances, medicines, drugs, expenses related to chemotherapy, radiotherapy, artificial limbs. It also covers surgical procedure like a pacemaker, laboratory/diagnostic tests, X-Rays etc.

There are exclusions in the health insurance policies such as claims for the accidents caused by dangerous sports activities, medical expenses for the treatment of obesity, sex change, genetic disorders,

Stem cell implantations, surgeries etc. It also does not cover ailments for Psychiatric, Psychosomatic disorders, hysterectomy, benign hypertrophy, hernia, root canal analysis etc.

Before buying any health insurance plan, you must consider all the inclusions and exclusions.

Hospital Covers Offered by Oriental Insurance

There are several coverages offered from the Oriental health insurance. Majority of the coverages are covered in the hospitals.  Oriental Health Insurance plan offers cashless treatment in the network of hospitals. The hospital coverages include pre and post hospitalization expenses, ambulance expenses, the medical practitioner’s cost, prescribed medical expenses. Surgery-related expenses, critical illness treatment expenses, room rent expenses, Daycare treatments, Organ donor related expenses, Comically related expenses, maternity and baby delivery-related expenses.

Features of Health Covers from Oriental Insurance

Oriental insurance is different plans are different from other health insurance plans based on the unique features it offers. There are some unique and critical features offered by the insurance plans.

  • Co-Pay – In case of the health emergency, the insurer will claim the expense amount. The Insurer has to pay 10% of the co-payment of the claim amount.
  • Life Long renewable – Plans are available for lifetime renewal and you can renew the plans online.
  • Pre-existing diseases – Health Insurance plans generally do not provide coverage for the pre-existing diseases.
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Servcorp Coworking Space – 5 Tips on How to Find Your Ideal Coworking Space

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 Image: https://wperegoy.files.wordpress.com/2013/09/the-cbd-and-the-bay-singapore-singapore-aug-28.jpg

Singapore’s fertile economy has many incentives for business in the country. As one of the fastest growing economies, Singapore’s mix of traditional values and modernised business practices are the foundation of creativity and innovation. In fact, Singapore currently is experiencing a renaissance of in terms of the coworking space industry.

Coworking spaces traditionally were a concept to help tech-industry professionals find affordable office space in a market where office space in premium locations was ridiculously high. As these spaces evolved, professionals from diverse industries work with each other. Because of the various coworking spaces, Singapore’s professionals can easily find space from which to work, for example, Servcorp coworking spaces.

Continue reading below for some useful tips on how you can find your ideal co-working space in Singapore and best utilise this office solution for your business.

Look For Amenities 

Not all spaces are equal, and a space that can provide you with more than the basic amenities is probably a good choice. The better coworking spaces fit your business out with quality IT services, opportunities to network, and plenty of access to resources. With some of the larger leasing organisations, you might have access to office space in locations around the country and the world. These amenities can really be the foundation from which you establish your business.

Find Your Community 

Coworking spaces are all about building community for its professionals and building opportunities to become a part of a close-knit community. In Singapore’s relational culture, family relationships and friendships form the basis of much business, and while your coworkers are not related to you, there are many opportunities to develop friendships. Coworking professionals should inspect their prospective space to see if the outfit makes an effort to engage professionals in a way that encourages social interaction. Because from these social interactions, you meet mentors who can help you navigate business in the country. Ultimately, community is going to create collaboration opportunities, which will raise your business’s profile.

Look For Flexible Leasing Plans 

The benefit of the coworking lease is they tend to be less protracted than standard leasing options. However, when looking at your lease, think of the many ways you need to use this space. Some considerations include whether space is going to be used primarily for work or for networking as well. Another important consideration relates to leases that offer incubator and accelerator programs that help business growth. Other considerations include whether or not you can scale the lease up to include more amenities as your business grows. The more flexibility that there is in the lease the more opportunities you have to maximise the space’s versatility.

Make Sure The Place Is Accessible 

If your business requires you to meet with a large number of clients, one consideration to keep in mind is accessibility. For this reason, while trendy coworking spaces can bring in the cool factor, finding a space that is centrally located to transit and other foot traffic sources is important …