Crowdfunder: Innovative online crowdfunding company receives £500k investment from Creative UK’s Creative Growth Finance fund
// creative growth finance // investment
Summary of Recommendations
- Unleash the true potential of creative ideas by expanding the scope of HM Treasury’s definition of Research & Development (R&D) to include the arts, humanities, and social sciences, adopting the definition laid out in the Frascati Manual 2015.
- Open up access to a greater diversity of creative businesses and entrepreneurs by ensuring a greater level of clarity and guidance on creative industries R&D activity which meets HMRC criteria and by increasing the qualifying expenditure permitted for freelance workers.
- Guarantee equality of opportunity by providing R&D tax inspectors with sector-specific training to help assess applications effectively and a sector-targeted service for those who cannot afford the support of specialist accountants
Download: Creative Industries Federation response to R&D Tax Reliefs Consultation
