Companies implementing innovative business management solutions are able to claim back R&D spend in HMRC’s Tax Credit scheme
If you are in the process of implementing a new business management system or have recently finished your implementation, you will be well aware of the effort required to mould your chosen software to fit your business needs.
That’s why Anderson Yates has partnered with leading R&D Tax Credit & Patent Box advisors Fiscale to provide specialist advice for companies implementing business management solutions.
What is the HMRC R&D Tax Credit Scheme?
Introduced by the government in the year 2000 to drive innovation in the UK market, the R&D Tax Credit scheme allows companies to claim back a portion of their R&D expenditure in the form of tax credits. On average our clients have claimed back 33% of their total spend on R&D, this includes expenditure on: employee salaries, consultant fees, contractor fees and additional hardware.
You can find indepth detail of the HMRC Tax Credit scheme at www.rdtaxspecialists.com
Are you eligible?
The terms for what classes as R&D under this scheme is fairly broad and whilst you may not initially envision your implementation as an exercise in research and development, you may be suprised.
Whilst not all implementations will be eligible for the tax credit scheme, you are more than likely eligible for a R&D Tax Credit if your implementation involved:
Defined Project & Scope
Process Re-engineering
Custom development
Custom integration
Potential of failure
The R&D Tax Credit is available for the current fiscal year as well as the 2 previous fiscal years, which means if you have implemented a new business management system in the last 3 years you are still able to claim.
How to claim
We work on a simple 6 step claim process that usually results in a successful claim within 8 - 10 weeks.
Phone Consulation
Claim Strategy Meeting
Draft Report
Finalize Report
Submit to HMRC
Receive cheque from HMRC
Our aim is to make the claim process as quick and simple for our clients as possible, which is why throughout this process we take as much of the burden as possible away from you. We only require assisstance with the data collection on your R&D spend, we handle everything else inhouse, including dealing with HMRC.
Featured Client success: CyberAid
Cyberaid has been developing Payroll, HR, Training, Recruitment and Time and Attendance software solutions for an eclectic range of clients for the last thirty five years.
Software providers are required to incorporate changes to legislation within their software to tight deadlines. They also need to assure users of security as they hold sensitive data, such as bank account details and national insurance numbers. With high-profile hacks hitting the headlines on a regular basis, software security is at the top of the development agenda at Cyberaid. The team constantly test their software packages against the latest threats and vulnerabilities, to ensure the software remains robust. Testing involves a degree of technological uncertainty, as the team work their way through diverse and complex “what if” scenarios. A number of Cyberaid’s clients require software solutions that will fully integrate with existing business management systems. In these cases, Cyberaid will develop bespoke solutions to meet these requirements. This process involves technological uncertainty, as this takes extensive research and development from the team of analysts, systems developers and programmers.
"With their no win, no fee guarantee and a 100% success rate for the claims they have made for clients, I realised that I didn’t have anything to lose. It soon became apparent that the nature of the market we operate in, drives a huge amount of Research and Development into products. Many man hours are devoted to improving our software. We don’t have a choice. This time has to be invested in, if we want to keep our products current, reliable and secure." - Gillian Blackmore, Managing Director, CyberaidClaim a free consultation
To celebrate our partnership with Fiscale we are offering a free consultation to see if your recent implementation is eligible.
Please complete the form below and one of our specialists will be in touch shortly to arrange your consultation.