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Research and Development Funding Specialists

Minerva Innovation Group is an award-winning boutique research and development funding specialist firm that prides itself in helping UK companies, predominantly small and medium-sized enterprises, produce sources of R&D funding, namely R&D tax relief.

We were voted "Best Boutique Research & Development Funding Specialists 2023" by SME News. Our highly experienced team consists of R&D tax consultants as well as sector specialists. We have worked with a wealth of clients from a variety of backgrounds ensuring great financial benefits in a timely fashion.

Contact us directly to meet our team and to hear our client testimonials. As a consultant-led company, we work predominantly on a referral basis by providing an excellent service which companies are happy to vouch for.

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Background

What is R&D tax relief?

In the year 2000, the UK government introduced R&D tax relief to promote innovation within the fields of science and technology. This scheme allows eligible companies to receive tax relief worth up to 33% of expenditure incurred in relation to qualifying technical activities. In most instances, profit making companies receive a tax refund or a tax reduction while loss making companies receive a cash credit straight into their bank account.

What are R&D grants?

In contrast to R&D tax relief which is a retrospective scheme relating to expenditure incurred, R&D grants work prospectively and allow you to apply for funding relating to future technical activities. There are a number of R&D grants available. One such grant includes the Innovate UK Smart Grant which allows companies to apply for a share of up to £25 million for R&D innovation. equipment, IT equipment, functional equipment, etc.) and is not subject to an annual limit.

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