Secure the funding your fashion and textile business needs with Innovation Tax
26/03/2025
Securing the right funding can be a game-changer for UK fashion and textile businesses, whether you’re investing in innovation, sustainability or scaling production. However, identifying and successfully applying for funding can be a complex and time-consuming process.
UKFT has partnered with Innovation Tax*, which is a specialist in funding and grant support, to help our members navigate the funding landscape. Innovation Tax can help you maximise financial opportunities such as R&D Tax Credits, Grants, Patent Box and Capital Allowances. Innovation Tax offers tailored guidance, application support and more, aiming to streamlines the process.
Finding and applying for funding requires in-depth research, understanding eligibility criteria and compiling compelling applications, which can be challenging. Innovation Tax removes these barriers by:
- Identifying the correct funding opportunities specific to your business needs
- Optimising applications to improve success rates
- Providing expert guidance on maximising financial incentives
- Offering a complimentary consultation to UKFT members
“Innovation Tax is dedicated to helping UKFT members in the fashion and textile industries seamlessly access crucial funding opportunities. Our experienced team simplifies complex financial incentives, ensuring you secure essential support without interrupting your core business activities.”
Sachin Chauhan, Innovation Tax’s Director
Services and packages for UKFT Members
We outline below how Innovation Tax services can help UKFT members maximise their funding potential:
R&D Tax Credits
Research and Development (R&D) Tax Credits are designed to reward innovation, and within the fashion and textiles sector, qualifying activities can include developing new or significantly improved fabric technologies, such as innovative textiles with enhanced performance characteristics; advancing sustainable and eco-friendly manufacturing processes; integrating advanced digital technologies such as automation, AI-driven design methods, and smart textile solutions to address specific technical challenges; and creating novel garment constructions or textile designs that involve resolving genuine technological uncertainties rather than purely aesthetic enhancements.
How it can help: “Our specialists thoroughly review your projects to pinpoint precisely what qualifies, carefully documenting every eligible aspect. We handle the entire process, from initial assessment to final submission, delivering robust claims to HMRC. The financial benefits include significant tax savings/cash repayments, enabling you to reinvest more into research, development and innovation.”
Grant Funding Support
Grants can dramatically accelerate business growth by providing non-repayable funding for innovation, sustainability, new product development and technological advancement within fashion and textiles.
How it can help: “Our dedicated grant experts guide UKFT members through the complex funding landscape, helping identify relevant grants tailored to your strategic goals. We assist in creating persuasive applications, crafting strong business cases, preparing detailed budgets and managing compliance obligations throughout the grant lifecycle. Our proactive approach maximises your chances of securing funding, allowing you to advance projects faster, increase capacity and gain competitive advantages.”
Patent Box
The Patent Box regime allows fashion and textile businesses to pay a reduced corporation tax rate of 10% on profits derived from patented inventions. And with the main rate of Corporation Tax now at 25%, there’s never been a better time to act and review your IP strategy.
How it can help: Innovation Tax helps you identify eligible intellectual property to optimise Patent Box benefits.
Capital Allowances
Capital Allowances offer tax relief on investments in commercial property acquisitions / improvements, facility expansions, new machinery and equipment used in textile and garment processes.
How it can help: “Our expert team helps you identify these often-overlooked allowances, preparing detailed claims to accelerate tax relief and reduce overall tax liabilities.”
Complimentary Consultation
UKFT members can access a complimentary, no-obligation initial consultation with Innovation Tax, who will evaluate your business operations, discuss potential funding opportunities and outline the best strategies to leverage available incentives.
For more information or to arrange a complimentary consultation, UKFT members can get in touch with Sachin Chauhan, Innovation Tax’s Director.
Discover Innovation Tax online:
For a UKFT introduction, please contact info@ukft.org
About UKFT Associate Partners
UKFT works with broad range of trusted suppliers to the fashion and textile industry as Associate Partners. These organisations are specialists in their areas of expertise and offer a range of exclusive benefits and services to UKFT members. See more about referrals here.
An update on government funding for UK fashion and textile businesses
MARCH 2025: Unfortunately there are very few government grants or funding programmes available for basic business setup, operational or development costs for UK fashion and textile businesses at the moment. Here we have outlined some of the limited support available from government.