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Markel Tax

17 Jan 2018

Funding review of 2017

It has been our most successful year to date, securing £17.2m of government grants for companies to perform R&D and purchase capital equipment to unlock growth.

Some of our highlights include: 

  • £3.5m to implement electric vehicle power packs, providing rapid battery top ups around Heathrow airport
  • £2m for a new market entrant to develop a small, range-extended, electric sports car
  • €1.9m Horizon2020 grant from the EU to scale up a commercial refrigeration monitoring system
  • £830k to develop 3D-printed die inserts for aluminium casting processes

 

We finished the year on a high, with a capital grant for a client who have developed food products which are new to the equine industry and represent an advance on existing knowledge. They are high in protein, fibre, vitamins and omega 3, and are made from high quality nutraceutical ingredients that are formulated to give the exact composition of nutrition to horses of different ages and sizes.

Nutritionally, these products are already superior to existing ones, but our client’s R&D team took this a step further in formulating bio-actives, Q10 co-enzymes and essential fatty acids that are also good for horses’ skin, coat, joints and bones. They developed state-of-the-art technologically advanced machinery on a prototype scale, in order to produce samples of their product. We secured the client £51,000 in grant funding to purchase the capital equipment to manufacture the new food.

Funding in 2018

Innovate UK has altered submission deadlines for its four technology areas. In future, materials and manufacturing, and infrastructure projects will share assessment deadlines, as will emerging and enabling technologies and health and life sciences technologies. The energy, biomedical and digital health catalyst competitions are also set to continue, with additional assessment deadlines for the open competition announced. Our team is happy to discuss future R&D projects and suggest the most appropriate competitions from which to seek funding. Growth funding continues to be available from Local Enterprise Partnerships, with our team happy to help you and your clients navigate the maze of opportunities. Finally, the EC has announced major changes to its SME instrument R&D grant scheme. Aimed at close-to-market projects where a prototype has been developed, the scheme is now open to innovation in any area, where previously projects had to fit prescribed call topics. With up to €2.5m of non-repayable grants, we are very interested to hear from companies with European connections in particular who wish to take advantage of this transformative scheme. 

If you would like to explore the funding available, please contact a member of the team on 0114 236 4457 or email taxsalesuk@markel.com.
Tagged R&D tax reliefs
Next article in series

17 Jan 2018

The worker status “gig”

At Markel Tax, we have a particular dislike for the phrase “gig economy”. It has been pounced on by the media as some kind of label used to describe a new burgeoning industry which is exploiting vulnerable workers.

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