17.6 C
Manchester
Tuesday, July 1, 2025
EducationBusinesses in Manchester most innovative in the UK

Businesses in Manchester most innovative in the UK

Businesses in Manchester are leading the way in British innovation, with four times as many Research & Development (R&D) tax relief claims as its closest rival, specialist tax relief firm Catax revealed today.

The northern powerhouse city made 1,140 claims for R&D tax relief in just 12 months, worth £75m, latest figures show.

It was four times the 290 claims made by Edinburgh businesses in second place.

Businesses which spend time and money developing a new product, business process or service could potentially claim tax relief for R&D. In Catax’s experience, the average claim is worth £44,000.

Despite these figures, there is a common misconception that the R&D needs to be successful in order to qualify for this type of relief. However, an incredible 72% of senior business leaders don’t realise this is not the case and that, as long as time and money has been spent, the R&D could qualify.

Meanwhile, there also continues to be a lack of awareness around what qualifies for R&D tax relief in the first place, with many firms wrongly believing they wouldn’t be entitled to claim. Previous research suggests nearly half of businesses (44%) believe that R&D relief is restricted to companies in the science and technology sectors.

Catax CEO, Mark Tighe, commented: “Whilst it is true that more businesses are claiming the R&D tax relief that is rightfully theirs, far too many SMEs still don’t realise that they qualify.

“There needs to be more education among small businesses over what actually counts as R&D. Most don’t realise it’s not just a new scientific formula or a jet engine but a piece of software, an manufacturing process or even a new innovative restaurant dish. 

“The typical £44,000 claim is a significant amount of money and firms need to be asking themselves whether they can afford not to check if they could benefit.’’

Latest

How offering coffee can reduce employee turnover

Staff come and go. It’s simply a fact of life. Or is it? In many cases, staff leave for a better opportunity or because...

Elite Property DXB Presents: The Sobha Dubai Roadshow – Manchester

Elite Property DXB is pleased to announce an exclusive two-day showcase of luxury real estate in Dubai, featuring the distinguished developments of Sobha Realty. This bespoke...

Mobile Cloud Mining App by AIXA Miner Set to Transform Crypto Access in 2025

AIXA Miner has unveiled its official mobile cloud mining application, signalling the beginning of a more flexible and user-friendly era in cryptocurrency mining. The platform,...

Reply announces finalists for its first AI Music Contest

Reply, an international group specialized in the creation of new business models enabled by Artificial Intelligence, is proud to announce the finalists of the...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

Appy Pie Teams Up with name.com to Offer Free LinkedIn Website Builder and .bio Domain

Appy Pie, the global no-code AI platform, has partnered with domain registration provider name.com to introduce a free AI-powered LinkedIn Profile-to-Website Converter. The new...

Elite Property DXB Presents: The Sobha Dubai Roadshow – Manchester

Elite Property DXB is pleased to announce an exclusive two-day showcase of luxury real estate in Dubai, featuring the distinguished developments of Sobha Realty. This bespoke...

Mobile Cloud Mining App by AIXA Miner Set to Transform Crypto Access in 2025

AIXA Miner has unveiled its official mobile cloud mining application, signalling the beginning of a more flexible and user-friendly era in cryptocurrency mining. The platform,...

How offering coffee can reduce employee turnover

Staff come and go. It’s simply a fact of life. Or is it? In many cases, staff leave for a better opportunity or because...

More News

University of Manchester ranks in top 5 universities for spinout generation

The University of Manchester has been ranked the fourth highest academic institution for the total number of spinout companies generated in the Spotlight on...

Funding approved to upgrade Rochdale primary schools

Primary schools in Rochdale are to receive a share of more than £2.9 million as part of an upgrade to local education facilities. This investment, funded...

Merlin’s Magic Wand Brings the Ocean to St Ann’s with New Playground

A brand-new ‘London Under the Sea’ Magic Space has been unveiled at St Ann’s School in Hanwell, thanks to the charitable efforts of Merlin’s...