In previous news, we have referred to a number of options available for getting funding towards business development projects. Here's an update on the funding options that have closed, and those that are still available.
R&D Tax Credits
The tax relief on allowable R&D costs is still at 230%. This means that for every £100 of qualifying costs spent you can deduct £130 from profit and thus reduce your Corporation Tax. Find out if you're eligible to make a saving.
Initial blog post (which discusses R&D tax credits at the previous value of 225%) : http://www.transcendit.co.uk/blog/posts/is-your-business-getting-its-r-d-tax-credits
£3000 grant for high speed broadband
This grant is currently suspended due to monetary limitations. Although you cannot apply at the moment, the site does say an update will be posted soon.
North East Business Support Fund
A new fund has been announced. If you are starting a new project that could grow turnover and/or employ more staff, you could be eligible for a grant of up to £2800.
Investment for Growth
This fund is no longer available.
More funding options for small to medium businesses can be found at the following links: