In the UK we are able to claim R&D Tax Credits for companies that invest in research and development as part of an EU incentive to boost the economy. But how is the economy advancing, as is innovation playing a part in a brighter economic future for the UK? Here are some of the articles we found around the web.

Innovation will make UK process industry more sustainable

This article suggest that the UK’s focus on innovation and research and development will enable us to keep ourselves in a stable position in the future thanks to our incentives. £7 million of government cash is to go towards developing methods of sustainable manufacturing, particularly within the process industry. The total value of the R&D is set to exceed £14 million. Those involved are adamant that this kind of innovation is essential for building a positive future for the United Kingdom’s process industry.

read the article here: Innovation will make UK process industry more sustainable

 

UK to power up electricity storage systems with £20m fund

The UK government is launching an innovation competition worth £20 million in order to try and push the development of renewable energy and the storage of the energy that’s developed by the likes of wind turbines and other renewable resources. Businesses all over the UK were invited to register interest in the competition this week, with the first strand set to fund storage demonstration schemes with a second competition set to support storage research.

read more about it here: UK to power up electricity storage systems with £20m fund

 

King says euro zone threatens slow UK recovery

Mervyn King, the Governor of the Bank of England, has given a negative assessment of our economy as well as the global economy as a whole. He was also far from complimentary about the Euro zone and its effect on the UK, claiming that it could threaten the UK’s recovery. In fact he thinks that the Euro Zone will fall apart, stating that policymakers will fail to “keep the show on the road”.

read his damning verdict here: King says euro zone threatens slow UK recovery

For more news on business, tax and R&D tax credits, as well as any updates from HMRC, be sure to follow us on Twitter.

 

To see if your business qualifies for R&D Tax Credits then visit www.randdukltd.co.uk/qualifying-rd-tax-credit

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