Startups in Newcastle
Newcastle has strengths in digital, offshore energy and life sciences. The North East Growth Hub can help with local grants and advice, and our funding page explains how we help you get ready for a loan, a grant or investment.
What do North East offshore and life-sciences contractors need to watch?
The North East's offshore energy sector relies on contractors, and contracting has its own tax rules. Travel and subsistence costs are deductible only when you travel to a temporary workplace, and a site stops being temporary once you expect to work there for more than 24 months. Long offshore rotations can reach that limit. Work outside the UK raises questions about tax residence and double taxation, which are best answered before a contract starts. In life sciences and digital, R&D relief comes up most often, and every claim now needs an additional information form filed before the corporation tax return, so keep the evidence as the work happens.
