Research and Development Funding Specialists
Minerva Innovation Group is a boutique research and development funding specialist firm that prides itself in helping UK companies, predominantly small and medium-sized enterprises, produce robust R&D tax, R&D grants, and RDA claims. 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.
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.
What is RDA?
RDA stands for research & development allowance and allows eligible companies to reduce taxable profits by deducting the value of qualifying R&D capital expenditure. This improves upon the annual investment allowance as it includes a greater range of capital expenditure (such as R&D facilities, laboratory equipment, IT equipment, functional equipment, etc.) and is not subject to an annual limit.
Why Choose Us?
Fast, free and non-binding eligibility check
Competitive fee structure
Average processing times of two weeks
Easily accessible and approachable team