Technology
Enhancements
The UK technology market is an ever growing sector which can extensively benefit from R&D. The UK tech industry is now valued at $1tn, a landmark milestone, everyday innovative and experimental tech companies are being launched and will grow into the next generation unicorn or deacorns.
The innovation and technological advancement required to grow within the industry is directly linked to research and development. The creation of new and improved tech, and the increase in the efficiency of current systems are both vital to increase a companies capabilities and also further enhance a software or system vendor.
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Any challenges that face uncertainty could qualify for the governments R&D incentive. The use of smart technology and the automation of many processes are all geared towards increasing productivity and efficiency, and are eligible for R&D tax relief.
The government’s Research and Development incentive allows your business to pursue these advancements in the knowledge that a large percentage of the costs incurred can be returned. Whether your projects have been successful or not, the benefits apply.
Specific areas of eligibility
The development, testing and trialling of new software, systems and processes to streamline an existing cumbersome end to end process.
Digital storage via cloud or enhancement to server based storage will be subject to R&D.
The use of new and innovative processes to facilitate large exchange of information between multiple stakeholders in a large chain of contributors.
Digital innovation to enhance user experience and the transfer of information digitally complying with regulation.
Modifying existing processes to comply with an ever changing regulation landscape requires in-depth knowledge of a given sector and thorough testing, implementation and R&D to ensure to requirements are met and delivered, all of which qualify for R&D relief.
Each technology upgrade, enhancement or new project will be subject to a requirements gathering stage, design phase, test phase and finally an implementation phase. These different phases all require an element of R&D and qualify for relief.
Our experts will forensically examine your entire company to discover the areas of R&D within it.
We will get a feel for your business as
an entirety and fully understand the complexities of its day to day running as well as the major projects that are on the go.
Their expertise allows them to uncover many qualifying costs that may have been overlooked by accountants.
