Companies in a wide range of sectors can make a claim under the UK government's R&D tax relief schemes which are valuable reliefs offered by the government to encourage companies based in the UK to conduct R&D.

Background

Companies incurring expenditure on developing or enhancing products or processes may be able to claim a reduction to corporation tax or, where loses have been made, a repayable tax credit. Many clients have been able to use R&D tax credits to significantly reduce their corporation tax liabilities or improve their cash flow.

Who is eligible?

The definition of R&D is broad and encompasses activities undertaken by businesses operating in a wide variety of sectors. If your business is attempting to resolve a scientific or technological uncertainty this may be qualifying activity. Where there is a doubt as to whether the uncertainty can be overcome or you do not know how to overcome it, you may be able to claim R&D credits on qualifying expenditure.

What is qualifying expenditure?

• Salaries, employer's NICs and pension contributions
• Subcontractors
• Software (if certain criteria are met)
• Materials and consumables including utilities

Separate R&D capital allowances may be available for capital expenditure on assets used in R&D.

What is the relief?

The relief available depends on the size of company.

SME scheme

Businesses are eligible for this scheme if they have:

• Fewer than 500 employees
• Turnover of less than 100 million euros
• Gross assets of less than 86 million euros

Under this scheme relief for qualifying expenditure is available at a rate of 230%. For every £1,000 spent, £2,300 can be deducted from taxable profits. For loss making companies the loss can be surrendered for a repayable credit of 14.5%, meaning that the value of the credit per pound of R&D spent is 33.5p. In certain circumstances, such as the receipt of grants, businesses may be precluded from claiming under the SME scheme but may be able to claim under RDEC instead.

Research and development expenditure credits ('RDEC')

Relief is given at the rate of 12% of qualifying expenditure as an above the line credit which can then be used to reduce the company's corporation and other tax liabilities.

How to claim the relief

R&D tax relief is claimed in the company's corporation tax return. This means that a claim can be made up to two years after the end of the company's corporation tax period.

This article was contributed to the Business Runnymede newsletter by Dixcart. Here's how they can help your company gain access to R&D tax credits:

Our tax professionals have helped numerous businesses claim the maximum R&D relief to which they are entitled. We are accustomed to dealing with HMRC and can often predict the questions which may be asked, meaning that information can be included in the original claim to reduce the likelihood of enquiries and speed up the payment of claims.

Some of the recent R&D claims we have submitted for clients include:

• Bespoke CRM software
• Military grade electronics
• Telecommunication interface interaction
• Innovative LED lighting

For further information please contact your usual Dixcart advisor or Paul Webb or Sarah Gardner in our tax team using the contact details below:

• +44 (0)333 122 0000
• [email protected]

image: Dixcart

If you or your business has news which you think our readers would find useful or interesting, get in touch at [email protected] and propose an article idea!

The Government will automatically enrol companies with the customs identification they need to keep trading with the EU in the event of a no-deal Brexit.

HRMC will allocate more than 88,000 firms with an Economic Operator Registration and Identification (EORI) number in the next fortnight. These unique identifiers are needed to track companies trading with the EU and collect duties.

Letters informing companies of their EORI number have already been distributed and will arrive over the next two weeks.

If your business is not VAT-registered, you still need to register for an EORI number. Getting an EORI number is an easy process that takes 5-10 minutes. Start your application here.

For more support and advice, visit our Brexit page here.

image: Flickr

A 'top ten' list of high-priority road improvement schemes to cut congestion, speed up journeys and support economic growth across the South East has been submitted to government as part of a £3.5 billion, five-year investment programme - including the A320 in Runnymede.

The schemes - which would each cost between £20 million and £50 million and be delivered by 2025 if funded - were agreed by Transport for the South East (TfSE), a new regional body which brings together local authorities, business groups and the transport industry to speak with one voice on the region's transport needs.

It follows a request from government in December 2018 for regions to agree their priorities for improving the Major Road Network (MRN), which comprises the country's busiest and most economically important 'A' roads.

Shortlisted schemes for the South East were assessed against a range of national criteria as well as Transport for the South East's strategic objectives for the region, which focuses on sustainable economic growth, improved quality of life and the environment.

The final 'top ten' list of schemes includes the replacement of a vital cross-city link in Southampton, a major upgrade of a busy junction on the M2 in Kent, improvements to the A320, and a package of schemes to renew and improve the A259 coast road through West Sussex, Brighton & Hove, and East Sussex.

Councillor Keith Glazer, who chairs Transport for the South East, said: "A high-quality, reliable transport network is absolutely critical to our region's continued success, so it's vital we make a strong case for ongoing investment on behalf of people and businesses in the South East.

"The schemes we have put forward would, if funded, mean better and more reliable journeys for road users and help reduce urban congestion, speed up journey times and support new housing and jobs.

"By speaking with one voice to influence where and how money is spent in our region, Transport for the South East is already making a real difference for the 7.5 million people who live and work in the South East."

Responding to the news that the A320 north corridor has been identified as a priority road scheme for the South East, Surrey County Council's deputy leader Colin Kemp said: "The A320 north corridor is important for Runnymede borough's local plan and also to increase the capacity of the local road network which will support housing growth in Runnymede, Woking and Surrey Heath.

"We have carried out in depth studies to prove the need for this, so it's very positive that this scheme is being put forward by Transport for the South East as one of the priorities in the region."

The scheme would make improvements along the A320 between Ottershaw and the M25, including possible changes at the following junctions:

• Ottershaw roundabout
• St Peter's Hospital roundabout
• M25 junction 11

The scheme is supported by the Enterprise M3 Local Enterprise Partnership. Head of Transport at the LEP, Kevin Travers, said: "The priority given to the A320 is greatly welcome and follows the LEP's £125,000 contribution to local councils to prepare the business case. Not only will it increase capacity on the route itself but by doing so, is the lynchpin for unlocking land for the development of 3,697 new homes across seven sites, including Longcross Garden Village.

"Transport solutions and affordable housing will help close the gap between residents' skills and those required by local businesses, enabling residents with the desired skills to live near their workplace and have easy access to employment sites. The LEP's Local Industrial Strategy places issues around place, housing and connectivity under the spotlight to help the region develop further to the benefit of all."

image: Transport for the South East

The Hythe Centre is a high-quality, multipurpose venue which is now available for local companies to hire with a range of great value packages.

Runnymede Borough Council's business packages at the centre offer convenience and include all the essential requirements to host a business event, including meetings, conferences, and away days.

Package breakdown (includes room hire, free Wi-Fi, projector, screen, flip chart, kitchen for beverages)

• Main Hall - £70.00 per hour
• Small Hall 1 or 2 - £35.00 per hour
• Room 1 & 2, Bar Lounge - £25.00 per hour

Explore the Hythe Centre with a 360-degree tour here.

The centre is available to hire from 8.30am to 11pm Monday to Saturday, excluding bank holidays, and 8.30am to 9pm on Sundays.

The helpful team on site will prepare the room layout in advance of your booking to help make your event as smooth as possible. To do so please indicate in your booking from your preferred room layout, this must be received no later than 10 days before your event. You can view the possible layouts and capacity here.

Secure your booking today and spread the cost of your booking up until 2 months before your event by paying a nominal £50 deposit.

To make an enquiry or to check availability, please register your interest. The team will be in touch.

image: Runnymede Borough Council

Are you a craft-maker, an artisan food producer, or work with textiles, arts, printing or materials? Do you have creative skills and make items which could be sold?

Runnymede Borough Council is looking for stall holders for the trial of a local market in Englefield Green. Up to 20 stands will be made available for businesses/sole traders to occupy free of charge.

The markets will take place over October and November this year with the view to roll out regular markets in other parts of the borough if they prove successful.

Whether you sell your goods at markets or online as a sole trader or if you are a start-up enterprise, please get in touch with the council and let them know what you do at [email protected].

image: Runnymede Borough Council

Following the success of last year's inaugural event, the Surrey Business Awards return for 2019.

The 2019 awards programme is even bigger and better with categories to suit every type and size of business, from start-ups to SMEs to large international companies.

Benefits of entering the awards

• Access to business and thought leaders
• Opportunity to stand out from all other businesses, not just those in your industry
• Opportunity to boost team morale and reward staff for their contributions to the company
• Invaluable PR and marketing exposure in the largest circulation of business magazines in the South East
• Part of a rigorous judging process by an impartial panel of expert industry judges
• Complimentary ticket to the awards ceremony for all shortlisted businesses

Categories

• Company of the Year
• Large Business of the Year (£5 million +)
• SME of the Year (£500,000 - £5 million)
• International Business of the Year
• Employer of the Year
• Professional Services
• Start-up of the Year
• Charity of the Year
• CSR Excellence
• Chamber Member of the Year
• Best Customer Service
• E-Commerce Business of the Year
• Business Innovation of the Year
• Tourist Attraction of the Year
• Businessperson of the Year

Think your business has what it takes to win? Enter the awards here.

Surrey Business Awards 2019 are organised by Platinum Event Management, a division of The Platinum Publishing Group. 2019 sponsors include Heathrow Airport, NatWest, Mazars, The Ken Blanchard Companies, Surrey Business School, Partridge Muir & Warren, projectfive, Hart Brown, Kingston Smith, Global, Gemini Print and Surrey Chambers of Commerce.

image: Platinum Publishing

Runnymede's Living Well Week is a celebration of leisure, arts and wellbeing activities.

From Monday 23 September to Sunday 29 September, there are free activities and events on offer including exercise sessions (swimming tai chi, football, table tennis & more), health checks, family activities, social events, lunches and advice sessions all over the borough.

Living Well Week has been running since 2014 and has grown from a one-day event into a week-long celebration. Last year saw over 75 different activities take place over Runnymede.

Runnymede Borough Council partners with local organisations to provide these services. If you're an organisation or voluntary group and want to find out more about the event, including sponsorship, please email [email protected] or telephone 01932 425688.

The Enterprise M3 Growth Hub are offering bespoke, one-hour clinics for businesses in ICT and digital media, aerospace and defence, pharmaceuticals, and professional and business services.

The Growth Hub is fully funded to help businesses located in Runnymede with their plans for growth.

These confidential business clinics focus on:

• exploration of new markets
• developing innovation
• increasing workforce
• sustainable growth

If you are interested in booking a clinic, please contact us at [email protected]. Eligibility rules apply.

image: Enterprise M3 Growth Hub