News and Information
J4-insight is a source of useful information, news and opinion related to technology management.
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BSI recently announced that it had secured membership of CEN and CENELEC enabling UK industry and other stakeholders to continue shaping and maintaining best practice standards across Europe and internationally. This means that the development and maintenance of European standards should not be affected by Brexit.
The IET has recently published an action plan which sets out ‘next steps’ for Sustainable Manufacturing in the UK. Delivering the ambition for a Post-Brexit UK to create significant social, economic and environmental impact, this report sets out the how, who, what, when, where and why for action on sustainable manufacturing over a five-year period.
The executive summary challenges government and manufacturers alike with targets such as:
- Reduce the UK resource consumption by 5% year-on-year from 2020.
- 100% of large companies, 50% of SMEs and 10% of micro companies achieve
circa 8% year-on-year savings.
To download the full report, click here
A recent survey by one of the UK leading banks suggested that whilst 80% of eligible SME’s are aware of R&D Tax Credits only half of these (40%) have investigated or actually made a claim.
You probably come across companies offering advice on R&D Tax, but there is often still the need to write the justification and compile the data yourself, however see this as an investment to quickly get cash back into the bottom line, or look for external assistance.
If you need advice or help writing a justification or submitting a claim please contact us now.
(or remain one of the 40% missing out!)
Cirencester based technology consultancy J4intech has joined with NXD to provide Non-Exec level services to help business owners/leaders deliver improved financial performance and maximise the value of their business.
NXD members represent a growing group of senior executives with practical first-hand experience of running businesses who are now dedicated to bringing the benefits of non-executives to small and medium sized organisations in a cost efficient way by offering a customisable service either as a formal Non-Exce position or as a Board Advisor.
Too often we think of tax as negative concept, however be aware that there is potential to get money from HMRC.
R&D tax reliefs were established to help drive innovation in the UK. They offer companies that carry out R&D activities the opportunity to reduce their tax bill.
You may not think that you are engaged in Research & Development but ask yourself…..”Is my business under competitive pressure and are we constantly trying to improve our product or service by deploying science or technology?”
If you think the answer is either a definite or possible “Yes” then you should look into the matter further as the level of tax refund is very significant for qualifying SME’s
For 2016, the tax relief on allowable R&D costs is 230 per cent – that is, for each £100 of qualifying costs, your company or organisation could have the income on which Corporation Tax is paid reduced by an additional £130 on top of the £100 spent.
For more information, please click here to read the J4-insight paper and contact us to discuss your situation.