UK registered businesses and organisations can apply for a share of up to £20m for digital innovation projects that will improve the resource efficiency and energy efficiency of manufacturing processes in factories.
At the previous Budget in Spring, the government launched a review of R&D tax reliefs alongside a public consultation. The Chancellor has now announced a series of initial changes as part of this review.
The government, keen to support the growth of the creative industry, have paid out over £1.3 billion in R&D tax relief to encourage research and development projects across the whole of the creative industry
The ‘super deduction’ and the ‘SR allowance’ are two temporary allowances that have been introduced by the government to encourage investment in businesses and offer some much-needed relief for UK companies.