Innovation

The UK is an unparalleled place to carry out Research & Development.

We have leading university departments across a wide range of industry-focused disciplines from civil engineering and biological sciences to computer science and informatics.

We are particularly proud of our wide-ranging centres of excellence. These include the National Physical Laboratory, which delivers world-class measurement science, and the Science & Technology Facilities Council's Daresbury Laboratory which leads the world in areas of scientific research in fields such as accelerator science, chemistry, materials and computational science. The Cambridge Judge Business School is internationally recognised as one of the leading providers of innovative, intellectually challenging and practical business management education, while Innovation Martlesham is home to a ‘collaborative ecosystem’ of high-tech ICT companies.

Innovation is actively promoted in the UK through a series of generous Research & Development tax credits. Larger organisations benefit from a 130% tax deduction, while Small & Medium sized Enterprises (SMEs) can claim an overall reduction of 225%. The UK is also ranked joint second in the world for innovation, according to the 2015 Global Innovation Index. Follow this link for more information on the tax credit regime.

The Patent Box scheme encourages innovation by reducing the costs that are normally associated with the commercial exploitation of Intellectual Property (IP). A reduced 10% rate of corporation tax can be claimed on profits derived from the exploitation of patents. Please follow this link for information on the changes to the Patent Box which came into force on 1 July 2016.