Innovation is fundamental to business success. We can’t simply regenerate the same ideas into our processes and expect new results. Fresh thinking and creativity are what make a business stand out amongst competitors, and create sales and tangible results. But how do we know what ideas are worth investing money and time into? Naturally, they involve risk. That’s where an innovation funnel enters the equation. Let’s explore what this is and the various stages of an innovation funnel. What is an innovation funnel? An innovation funnel serves as a systematic process to determine the viability of ..read more

R&D legislation is always evolving to prevent fraud and to ensure that the incentive covers all types of costs for innovative businesses carrying out research and development. HMRC has developed an informative resource known as the Guidelines for Compliance (GfC3) to make a successful R&D claim. The purpose of the guidance is to help you avoid common mistakes in claiming R&D tax credits to increase the chances of a successful application. In this article, we will outline the key R&D tax relief guidance to function as your handy guide, helping you to provide HMRC with what they ..read more

Real estate, like many other industries currently, is undergoing further digitalisation and this is visible through the emergence of PropTech, a market that is predicted to reach $133.05 billion by 2032. PropTech is removing paper and clunky processes through technology-powered innovation. Our client, Technical Methods, had a standout successful R&D claim in their fractional ownership project using machine learning and blockchain smart contracts. It was an eye-opening experience completing their R&D claim on their behalf because it showed us the upward trajectory of efficiency in real ..read more

The R&D technical report, also known as the technical narrative, is a vital part of the R&D tax credit claiming process. It is separate from the financial report and it functions as an opportunity to detail the progress of your project during the tax year you’re claiming for. However, HMRC does not have published any standardised format for the technical report that could aid claimants. Using our experience of completing over 2400 R&D claims for a variety of different industries, we’ve funnelled our knowledge of the technical report into this article to guide you through the writin ..read more

The FoodTech industry is experiencing rapid growth, transforming not only hospitality establishments like bakeries and restaurants but also the food in our home fridges. Businesses are leveraging innovative thinking to overhaul how food is being distributed, manufactured, marketed, and consumed. Investors are directing their attention towards FoodTech startups, and the UK is witnessing a surge in food technology activity, driven by increasing demand. What can we expect from the FoodTech industry? Let’s explore this and define the top trends. What is the meaning of FoodTech? Food tech, short fo ..read more

In our increasingly digital world, both businesses and institutions are considering how to embrace technology to enhance their services. Virtual Reality (VR) in education is unlocking incredible experiences for students that weren’t possible before. We’re moving past reciting textbooks and endless PowerPoint presentations. The integration of advanced technology into teacher’s lesson plans truly brings learning to life, expands the capabilities of the classroom and helps to keep engagement levels high. This article will provide use cases of technological learning experiences and define the adva ..read more

We’re increasingly relying on Artificial Intelligence (AI)-powered personal assistants more and more, not just in the workplace but within our personal lives for health, well-being, and entertainment. For example, our virtual companions from our phones can tell us if we need an umbrella for the day ahead, what the traffic is going to be like on the usual route home, and even provide company to those who feel lonely. In this article, we’ll break down the rise of these assistants and how they’re going to be transformative for our society, serving a greater purpose across all industries. What are ..read more

At Alexander Clifford, we’re passionate about great ideas and innovative thinking. From our work in securing R&D tax credits for our clients, we have the privilege of learning in our technical consultations how exactly this project came to life and the natural trials that arise when attempting to advance past an industry challenge. When we look at the processes behind achievements, they are rarely simple or linear. It’s fascinating to watch in real-time the work of our clients transform how each of their industries function at their core, becoming more efficient, green and enriched. Let’s ..read more

Innovation takes place in many forms within businesses across the UK, and the same eligibility applies across industries for the R&D tax credits. Whether you’ve developed software for pharma, adapted a food product, or improved the safety of a textile process, for example, you could retrieve a cash injection from the government, helping to take your innovation further. Businesses involved in research and development (R&D) can receive a hugely beneficial boost from the R&D tax relief. As part of the claiming process, you’ll need to document all R&D endeavours, both indirect and ..read more

Every time we make a payment, whether it’s to pay a bill via direct debit or move some funds into a savings account for example, there’s a lot going on behind the scenes with payment systems. Payment systems are the necessary foundation to secretly move money from one place to another. In the UK, the types of payment systems we use have stayed the same for decades. However, these are undergoing change because of a drive for financial technology (FinTech) that is creating secure payment systems with technology, delivering a number of benefits for all of us. In this article, we’ll define the thr ..read more