A privately held company specialising in software products and consultancy services to high-tech commercial and research organisations approached TBAT Innovation to help them file R&D tax credits claim for the previous two and current tax years. The company offers design, analysis, project management and implementation of advanced visual applications, including their wholly-owned novel 3D PDF technology.
This project investigated pathways for highly compressed 3D PDF creation where none currently exists. The novel technology enables converting 3D data into rich interactive 3D PDF documents, where users can rotate and zoom in to reveal hidden detail, in a standard technical PDF report, with sufficient state-of-the-art compression to allow sharing by email.
Their need for funding As a small company all R&D was self-funded. A recovery of a proportion of these costs would go a long way to funding of further R&D for the 3D PDF product, allow subcontracting of a portion of the work while giving the company founders time to market the business. Without a recuperation of costs the project would result in a longer time to market of the product, with insufficient time to properly market position the product We visited the company in the Thames Valley to define the work conducted over a 3 year period, and ensure that the work involved sufficient uncertainty, man hours and subcontracted work to make the claim worthwhile to the company. We gathered subcontracted work invoices, estimates of staff man hours, project timescales and costs, and company accounts in order to project the financials required by the HMRC. We also ensured the following points were covered and submitted to the HMRC in a written report:
Our client was more than satisfied with their claim of £22k for 3 tax periods  especially as it required minimal effort from themselves, leaving them to get on with what they do best. See how much you could be entitled to by using our R&D Tax Credit Calculator Still not sure? Then let TBAT assess your claim WeÂve been working on R&D tax claims for over 5 years have a 100% success rate. From SMEs to large companies and industries including software, construction, transport amongst others. Just check out our case studies. We work directly with companies or alongside accountants to ensure the Tax Credit claim is maximised and monies are returned for future R&D work. WeÂd be happy to arrange 1-2-1Âs to discuss whether you qualify and how much you could claim back from HMRC. If youÂd like to arrange a 1-2-1 or discuss your claim please contact us for a no obligation, confidential consultation and learn how you can benefit from R&D Tax Credits. |
