Unlock the Full Value of Government Tax Incentives for your Business
- Helping you finance innovation and business growth
- Enabling you to recover a proportion of R&D costs
- Maximise your tax relief on commercial property assets
Discover the Funding Opportunities waiting for you
We're here to help
At Innovation Tax, we specialise in securing a full suite of tax incentives tailored to your business, including R&D Tax Credits, Grant Funding, Patent Box, Capital Allowances, Energy Tax Incentives, and HMRC Enquiry Support. We work across all sectors and industries, from manufacturing and technology to construction, professional services, and beyond.
We use our technical knowledge and industry experience to better understand your business in order to identify the maximum potential benefit available. Our experience of tax legislation ensures claims are fully auditable and compliant to the highest quality standard.
R&D Tax Credits
Designed to reward innovation, the R&D Tax Credit scheme allows businesses to reclaim between 16-33% of eligible research and development costs.
HMRC Guidelines for Compliance –>
Our team ensures your claim is robust, compliant, and fully optimised under HMRC’s latest guidance.
Qualifying activities include projects that aim to overcome technical or scientific uncertainties. This can involve improving processes, developing new production methods, or creating bespoke solutions to solve unique challenges. Examples include:
- Developing a machine learning algorithm to improve fraud detection accuracy in a financial software platform (Technology).
- Designing a new lightweight composite material to improve strength-to-weight ratio for use in aerospace components (Manufacturing).
- Engineering a sustainable wastewater treatment process to reduce pollutants and energy use in food production facilities (Environmental/Agri-tech).
- Creating a new architectural method for passive cooling in commercial buildings without reliance on mechanical HVAC systems (Construction).
- Developing a medical device with integrated sensors that continuously monitor and transmit patient vitals in real time (Healthcare).
How is the benefit paid?
The R&D Tax Credits scheme provides two primary sources of relief:
1.
Corporation Tax Reduction
If your company is profit-making, the tax liability can be reduced (or a tax refund obtained for historical periods) by the value of the claim.
2.
Cash Payment
For loss-making companies, a 10/14.5% tax credit may be available, offering between 16-33% of eligible R&D expenditure back to your business.
Innovate, Invest and Grow
Navigating the complexities of R&D funding can be overwhelming and that’s where we step in.
Our mission is to simplify the process to help technology and software companies unlock the funding they are entitled to.
- Expert Guidance: Our thorough understanding of R&D Tax Credits and Grant Funding schemes help us identify the opportunities best suited to your business.
- Tailored Approach: Every business is unique so we take the time to understand your projects, ensuring you claim the eligible funding you are entitled to.
- End-to-End Support: From assessing eligibility to preparing and submitting claims, we handle every step of the process with precision and care.
- Grant Applications: Beyond tax incentives, we assist you in identifying and applying for grant funding competitions which align with your growth objectives.
How much is the R&D Tax Credit Relief Scheme worth?
Post April 2024: Up to 21.5% Net Benefit
Post April 2023: Up to 16.2% Net Benefit
Post April 2023: Up to 26.97% Net Benefit
Post April 2024: Up to 16.2% Net Benefit
R&D Tax Credits Claim Process
01.
Introduction
We arrange a meeting to discuss your business, qualifying criteria and how they might impact on one another.
02.
Prequalification
We conduct a thorough assessment to ensure your activities/projects comply with the incentive criteria.
03.
Information Gathering
We work closely with your key personnel to gather all the information required to support your application.
04.
Report Compilation & Review
We draft your application and forward you a copy for review to provide reassurance that the content is a true representation of your application.
05.
QA & Submission
Once you are happy with the application draft, we conduct an internal quality assurance check to ensure all requirements are satisfied before formal submission.
Grants Funding
Grant Funding is a government-backed initiative designed to support businesses by providing financial assistance to drive growth and innovation across various sectors, from start-ups aiming to establish themselves to established companies looking to scale up.
Grant Funding accelerates ambition, turns visions into reality, and enables businesses to explore new opportunities, develop innovative solutions, and achieve long-term success.
Which activities would qualify for Grant Funding?
Businesses can access a wide range of grants to support innovation, sustainability, and growth. These funds can provide the boost you need to stay competitive and scale operations.
Innovation Tax continuously monitor the market for funding competitions and opportunities available to UK companies. Although each grant awarding body has different priorities across various sectors, they target to ensure only the best projects are funded. The range of activities which can be supported by grant funding are many and varied, including:
- Feasibility studies and pilot programs for the adoption of AI in personalised healthcare treatments (Healthcare).
- Product development and testing of autonomous agricultural drones for precision farming (Agriculture).
- Process digitisation and automation of supply chain operations using blockchain (Logistics/Retail).
- Sustainable and low-carbon technologies for hydrogen fuel cell systems in heavy-duty vehicles (Transport).
- Early-stage validation of 3D-printed construction materials for modular housing (Construction).
- Development of wearable devices that monitor patient vitals and predict health anomalies (MedTech).
- Smart factory feasibility assessments to reduce downtime and energy use in manufacturing (Manufacturing).
- Pilot implementation of carbon-negative cement for eco-friendly infrastructure projects (Engineering).
- Development of AI-driven fraud detection systems for digital banking applications (FinTech).
- Testing biodegradable packaging innovations for use in the cosmetics and food sectors (Consumer Goods).
What Grants are available?
01.
Innovate UK
Read more →
02.
UKRI
Read more →
03.
SBRI Healthcare
Read more →
04.
Govt. Departments
Read more →
05.
Industrial Strategy Council
Read more →
06.
Councils & Growth Hubs
Read more →
07.
European Innovation Council
Read more →
08.
Horizon Europe - EU Commission
Read more →
How can we help
Navigating the grant landscape can be complex. We guide you through identifying the most relevant opportunities, preparing applications, and securing the funding you need to lead in innovation.
What are Capital Allowances?
Businesses investing in plant and machinery, equipment, infrastructure, or commercial property improvements can claim valuable tax relief through Capital Allowances.
HMRC Guidelines for Compliance –>
Capital Allowances recognise expenditure incurred in the purchase of commercial properties and other assets as a tax allowable expense (unlike ‘depreciation’), reducing taxable profits and the associated tax liability; furthermore, claiming Capital Allowances do not increase your future capital gains tax liability if the property is subsequently sold.
The majority of individuals and companies entitled to claim Capital Allowances on commercial property expenditure have not claimed their full entitlement and have therefore failed to maximise their tax relief.
We help businesses in identifying and claiming eligible expenditure on commercial property expenditure incurred on the acquisition and fit-out costs.
Capital Allowances –
Qualifying Expenditures
- Acquisition of Commercial Property
- New Builds
- Furnished Holiday Lets
- Refurbishment / Fit Out
- Extensions
How can we help
Our highly skilled and experienced team of Chartered RICS Surveyors, Technical and Taxation Professionals work with companies to identify all qualifying activities and associated expenditure.
Unlock Energy Tax Savings for your business
Businesses can benefit from a range of energy tax incentives which can help reduce operating costs and position your business as a leader in sustainability.
If your business belongs to an energy-intensive sector, you could claim back up to £25,000 for every £100,000 spent on energy, helping you insulate against rising operational costs. To be eligible, companies must meet specific meet HMRC and DBT requirements, sector requirements, and undergo evaluations such as historical usage analysis.
We help you identify, explore and claim Energy Tax Incentives
01.
Scheme Identification
We will help you identify which energy scheme (Climate Change Levy, Energy Intensive Industries, UK ETS Compensation Scheme) you are entitled to claim.
02.
Claim Compilation
We will prepare the claim reports in compliance with the legislative framework and guidance to ensure your claim is fully justified and calculated correctly.
03.
Ongoing Support
Once your claim has been submitted, we will follow this through to completion and will assist with producing the quarterly and annual reporting as necessary.
What is Patent Box?
Patent Box is a tax incentive which enables businesses to pay a reduced corporation tax rate of 10% on profits derived from patented inventions. And with Corporation Tax rates due to rise to 25%, there’s never been a better time to act and review your IP strategy.
To qualify, companies need to own (or exclusively license-in) patents granted by either The UK Intellectual Property Office, The European Patent Office or countries in the EEA, be liable for Corporation Tax and fulfil ‘development’ and/or ‘active ownership’ conditions.
Patent Box
Qualifying IP Income
- Worldwide income from the sale of product(s) incorporating a patent, including spare parts
- License fees or royalties from qualifying IP
- Any compensation income or damages from the infringement of owned rights
- The sale and disposal of qualifying IP and rights
How can we help
Our highly skilled and experienced team of intellectual property, technical and taxation professionals work with companies to identify all qualifying activities and associated expenditure. We use a bespoke claim methodology to ensure the claim is legislatively robust and the value of the entitlement is fully maximised and choice of methodology aims to keep time investment to a minimum, ensuring day-to-day business activities are not affected as a result.
Other Services
Increased scrutiny by HMRC means businesses need to be prepared for potential compliance checks.
Tax Incentives and Grant Funding for Innovation
HMRC Enquiry Support →
We provide expert assistance in responding to HMRC enquiries, ensuring the response is clear, sufficiently detailed and in-line with HMRC's expectations.
Schedule a free consultation with our specialists to explore your opportunities.
Why Choose Innovation Tax?
Serving Businesses across the UK, we’re dedicated to helping you achieve financial growth and sustainability. Contact us today to explore your opportunities.
- Sector-wide expertise: We support businesses across all industries, tailoring every claim to your commercial and technical environment.
- Compliance-first approach: Our claims are fully aligned with HMRC’s evolving criteria and backed by detailed technical evidence.
- End-to-end service: From identifying qualifying activity to filing claims and managing enquiries, we handle it all.
- Maximised returns: We focus on maximising the value of every claim while ensuring long-term compliance.