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

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
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Financial Mathematics

Financial Mathematics TopicsThe Library has an extensive collections of mathematics and economic journals, both on the internet and in print. Mathematics at Kent was ranked 19th for course satisfaction in The Guardian University Guide 2017. This module considers the development of the role of management in organisations, the value of strategic analysis and decision generating to allow sustainable development and the distinct contexts in which organisations may well operate.

The new strategy offers a deeper understanding of the optimization troubles, and it also extends the scope of applications. This module explores some of the fundamental ideas of statistics, from information summarisation to the primary methods of statistical inference.

You will also explore the mathematics applied to monetary and investment problems, and appear at how organisations handle their human and monetary sources to achieve and keep competitive benefit. In this module, we study how appropriate models can be constructed, how to match them to information and how appropriate conclusions can be drawn.

Generate a effectively-structured written report demonstrating a sound understanding of the theory of the chosen project location, which includes right use of relevant references, language, information, diagrams, tables and graphs as proper to your project. This is a really practical module to the extent that it will assist students develop organization awareness in the field of company finance.

It offers you the opportunity to study financial theory and applications constructed on rigorous foundations inside a friendly and very effective department. The derivative concept is generalised for functions of numerous variables extending the breadth of its application greatly and the study of ordinary differential equations is commenced.

The course combines the fundamentals of monetary mathematics with the study of company management applications. You will also undertake a major project (independent study), investigating a financial mathematics topic in depth. These are central in …

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