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Professional and business services innovation funding

Professional and business services (PBS) are a significant contributor to the UK economy. Generating some £300 billion in 2024 and contributing one in seven UK jobs, its scale makes the UK the second largest exporter of PBS globally.

Prioritised as a high growth sector in the government’s Modern Industrial Strategy, it is poised to grow further. Innovation incentives, including R&D tax reliefcapital allowancesgrants and Patent Box, are key to supporting this journey. 

For PBS businesses seeking to partner with a trusted adviser on their growth journey, ForrestBrown has the perfect blend of skills to help you. Whether you’re a legal or accountancy consultancy creating software efficiencies or an engineering practice developing new solutions, we can support your funding strategy. 

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Professional and business services: a priority growth sector

The Modern Industrial Strategy promises to accelerate growth in eight key UK sectors with the “highest potential”, including professional and business services. 

With the global PBS market forecast to grow to 2035, the government hopes to strengthen the UK’s position and increase its share of global PBS trade and inward investment. It has committed over £150 million in transformative programmes to increase technology adoption and innovation in PBS. 

Opportunities for innovation

From artificial intelligence to cybersecurity and data privacy solutions, PBS firms are breaking new ground. Here are a few examples of how: 

How ForrestBrown can help

As the UK’s leading R&D tax adviser and innovation incentives specialist, we bring a wealth of expertise to your project to help you unlock opportunity. Whether you’re a scaling SME or large multinational, ForrestBrown will help you make decisions with confidence and clarity. This enables you to secure financial benefit and strategic value. 

R&D tax relief for professional services

ForrestBrown’s award-winning team can provide end-to-end management of your R&D claim, including eligibility assessment, submission and liaison with HMRC. We can also support you with establishing and reviewing your in-house R&D claim capabilities, as well as providing an objective assessment of your last claim. This confidential review will determine whether there are any missed opportunities to optimise value, while also identifying potential risks. 

Our tax experts work seamlessly with our industry-experienced sector specialists to review the scope of your R&D. We have technical expertise across a range of PBS frontier and adjacent industries, including artificial intelligence (AI)software development, engineering, real estate and construction. This allows us to accurately quantify the value of your R&D and translate its technical nuance to HMRC. 

Grants

PBS companies are eligible for competitions such as the Growth Catalyst. Round 3 is expected to open in summer 2026 and will be relevant for PBS firms developing a deep-tech innovation that involves AI. 

ForrestBrown’s experienced grant advisory team is ideally placed to help identify any relevant grant opportunities for your business. From horizon scanning and feasibility assessment, to application review and project management, we have the skills and expertise to support you. 

Stay up to date with relevant grant opportunities bysigning up to our dedicated newsletter, GrantScan.  

Patent Box

New products or processes are often patented allowing the inventor to enjoy a period of exclusive commercial use. For patent owners, Patent Box relief – a Corporation Tax (CT) relief on patented products or processes – can be a valuable incentive, that reduces the CT rate on qualifying IP income to 10%.  

Our experienced Patent Box team can support you with your claim and make sure that you’re making the most of the incentive. 

Capital allowances

If you’re fitting out commercial space, why not explore your eligibility for capital allowances relief? It can bring significant cash flow benefits for any eligible capital expenditure, such as plant and equipment. 

Our capital allowances team, led by Peter Reynolds, has considerable experience working on asset taxation issues, as well as in the construction industry. That perfect combination of industry experience and technical authority enables ForrestBrown to deliver practical, actionable advice to support your business. 

Location strategy

While London is home to the biggest concentration of PBS businesses nationally, regional centres offer strong clusters. Leeds for example, is home to a Business, Financial and Professional Services cluster, making it one of the largest financial centres outside London.

With such an array of locations on offer, it can be difficult to determine where your next investment should be. Our location strategy experts can help you to evaluate which geographic region will work for you, by considering a range of factors including the availability of talent and availability of location incentives.

Holistic advice for forward-looking businesses

As the professional and business services sector grows, businesses will need to adopt a strategic approach to claiming incentives. Partnering with a trusted adviser that can take a holistic view and advise across the full innovation toolkit will be key, unlocking opportunity to support what’s next. 

Examples of professional and business services firms advised by ForrestBrown

Management consultant

This management consultant developed a new finance tool that combined different sources of information and used regression, time-series analysis, and portfolio-style simulations to understand how retail and institutional sentiment interacted. The R&D focused on overcoming platform restrictions and real-time scalability. 

Benefit: £10k

Recruitment company

This recruitment company developed an AI-driven CV parsing and matching platform so it could compare outputs from multiple parsers and pick the best result rather than relying on a single engine. 

Benefit: £50k

Business intelligence platform provider

This software company developed a data platform to help management teams analyse performance by combining financial and operational data over time. The R&D focused on enabling complex data interrogation while preserving a clear audit trail of how underlying data changes. 

Benefit: £200k

Ready to discuss your funding strategy?

With over a decade’s experience partnering with forward-thinking businesses to unlock innovation incentives and reliefs, ForrestBrown has the skills needed to support your future funding strategy.  

By providing market-leading, holistic advice, we ensure that your business can claim with confidence, knowing that all value has been captured and risk managed. 

If you would like to discuss how to maximise your innovation funding strategy in professional and business services, get in touch.