Manufacturing innovation under threat
The impact of reduced R&D Relief and HMRC’s tougher stance
Crowe’s Manufacturing Outlook Survey indicated that 21% of respondents were disincentivised from innovating due to reduced R&D relief and the more aggressive HMRC approach/policy.
Crowe's visit, with ConeX Portal (a members-only hub that connects the UK's manufacturing and engineering businesses), to Airbus revealed that not only are they coordinating world-leading innovation with their 'wing of tomorrow' project and other initiatives to help drive global aviation to a carbon-neutral environment, but this is centred right here in the UK.
Airbus also wants to encourage its existing and new supply chain members to come on that journey with them.
Crowe's Thrival campaign features businesses driving future winning strategies. These strategies focus on what a business can manage and influence itself, strengthening resilience, capitalising on opportunities and identifying and addressing exposures and risks.
Exciting, leading innovation driven by the likes of Airbus will create opportunities for those UK businesses that step up and seize them.
Do businesses want to be in the 79% of businesses that are still driving innovation?
They should be. Today’s claims for R&D tax credits need to be more robust and may be under closer HMRC scrutiny, but the relief is still available and valuable for many companies; it just isn't (and should never have been) the main driver for innovative activity.
Innovation is key to the future success of companies and should form a core tenet of their growth strategies. Necessity is often a driver for innovation. The needs of our society to find practical answers to the need to decarbonise without regressing in quality or our way of life demand innovation and change by companies across all sectors.
The businesses that practise Thrival and seize the opportunity to be part of the solution to the challenges before us will be well placed to profit from the future. And profit generates tax liabilities, making that R&D claim or even a patent box structure all the more valuable!
Crowe's visit, with ConeX Portal (a members-only hub that connects the UK's manufacturing and engineering businesses), to Airbus revealed that not only are they coordinating world-leading innovation with their 'wing of tomorrow' project and other initiatives to help drive global aviation to a carbon-neutral environment, but this is centred right here in the UK.
Airbus also wants to encourage its existing and new supply chain members to come on that journey with them.
Crowe's Thrival campaign features businesses driving future winning strategies. These strategies focus on what a business can manage and influence itself, strengthening resilience, capitalising on opportunities and identifying and addressing exposures and risks.
Exciting, leading innovation driven by the likes of Airbus will create opportunities for those UK businesses that step up and seize them.
Do businesses want to be in the 79% of businesses that are still driving innovation?
They should be. Today’s claims for R&D tax credits need to be more robust and may be under closer HMRC scrutiny, but the relief is still available and valuable for many companies; it just isn't (and should never have been) the main driver for innovative activity.
Innovation is key to the future success of companies and should form a core tenet of their growth strategies. Necessity is often a driver for innovation. The needs of our society to find practical answers to the need to decarbonise without regressing in quality or our way of life demand innovation and change by companies across all sectors.
The businesses that practise Thrival and seize the opportunity to be part of the solution to the challenges before us will be well placed to profit from the future. And profit generates tax liabilities, making that R&D claim or even a patent box structure all the more valuable!
Manufacturing Outlook Report 2025
Read our latest report and discover the trends that are shaping the manufacturing industry, as well as the opportunities and challenges the sector faces in 2025.
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