Fixtures of a commercial property are items of plant and machinery that are fixed to the fabric of the building such as electrical systems and heating systems, air conditioning.

On 6th December 2011 the Government published Finance Bill 2012 which included major changes to the rules about claiming capital allowances for plant and machinery fixtures. These will affect all commercial property owners.

The changes make it important for business buying and selling property to seek expert advice from accountants.

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The Technology Strategy offers grants to small and medium-sized enterprises (SMEs) to enable them to carry out R&D projects to develop new products, processes and services in the areas of science, engineering and technology.

Three types of grant are available:

1. Proof of market grant

   This grant enables SMEs to assess the commercial viability of a project through market research, market testing, competitor analysis and initial planning.  The grant funds 60% of the project costs for up to 9 months to a maximum of £25,000.

2. Proof of concept grant

   This grant enables SMEs to explore the technical feasibility and commercial potential of a new technology, product or process.  The grant funds initial feasibility studies, basic prototyping, specialist testing to demonstrate technical feasibility, intellectual property protection and investigation of production and assembly options.  The grant funds 60% of the project costs for up to 18 months, and a maximum grant of £100,000.

3. Development of prototype grant

   This funding is available to SMEs to develop a technologically innovative product, service or industrial process, and can include projects such as small demonstrators, intellectual property protection, trials and testing and market testing. Projects will last up to 2 years and have a maximum grant of £250,000; up to 35% of total project costs for medium enterprises, or up to 45% for small and micro enterprises.

If you would like further information about the grants available and whether or not they may be suitable for your business, please contact Sara Crowther on 07723 916890.

Knowledge Transfer Partnerships (KTPs) are a scheme to help businesses improve their competitiveness and productivity by accessing knowledge, technology and skills that are embedded within UK Universities.

The scheme is supported by the Technology Strategy Board such that the average annual contribution to a project for a small or medium sized entity is around £20,000.  For this you get a full time graduate or post graduate and access to a University academic for half a day per week.

The statistics available on KTPs demonstrate that on average businesses see an increase of over £220,000 in annual profits before tax, the creation of three genuine new jobs and an increase in skills of existing staff.

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All business owners are finding that green issues are rapidly creeping up their agenda, as they represent a burden in terms of complying with laws and regulations, as well as representing threats to the future growth of the business.  Some of the potential issues are:

• Climate change, including flooding which can increase insurance premiums.
• Limited natural resources, causing rising raw material and energy prices.
• Green taxes, such as land fill tax and fuel duty.
• Increased regulation, such as the carbon reduction commitment and other environmental measures to reduce emissions and waste.

Although these are serious issues for businesses, they can also be viewed as an opportunity.

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It seems that the government are considering introducing legislation that links business rates with the performance of the building in a bid to increase the installation of energy saving technologies.

There are already a number of tax incentives available to businesses that invest in green technologies, namely accelerated capital allowances.  With this in mind business may wish to consider investing in these technologies now.