Innovative market research company Crowdlab, were referred to TBAT by a business partner, to make a claim for their on-going R&D project, to create their market-leading application!
Founded in 2011, Crowdlab Limited are a software development company with both research, environment and technology expertise. Their primary ongoing R&D project has been the development of their market-leading market research application, Crowdlab.
The Crowdlab application is an online/smart phone-based market research app that is capable of capturing what the user is thinking ‘in the moment’ whilst engaging with a brand. The app provides research agencies and large well-known businesses with the ability to build an insight into their customer’s experiences through both quantitative and qualitative research data.
A business partner referred Richard Owen, Founder and CEO of Crowdlab, to TBAT in 2014. The business partner’s positive experience of working with TBAT was the deciding factor in his decision to work with us. With TBAT’s expert advice, the tax relief claimed over the years has allowed Crowdlab to plan into the future and invest internally.
Crowdlab’s most recent claim was kicked off by TBAT Director, Sam Stephens, in 2018. After discussions with Richard, it was decided that they would make a claim for their current financial year as well as a retrospective claim for the two previous years.
Richard was apprehensive regarding the eligibility of their claim due to the pre-arranged sale of the business. However, owing to Sam’s years of experience within the industry he was able to accurately assess Crowdlab’s situation regarding the current R&D Tax regulations. He reassured them that a claim was viable, and that it would be hugely beneficial to the business.
Following on from Sam’s kick-off, TBAT Consultant, Matt Pierce, was engaged to detail the financial and technical aspects of the claim. Matt arranged a face-to-face visit with the developers to talk through the technical uncertainties and the development undertaken to create the innovative features of the Crowdlab app.
By taking the time to fully grasp the technology, Matt was able to gather the information required in a short space of time. This turned what could have been a burdensome task for a small team, into a painless experience.
Matt’s thorough understanding of Crowdlab’s innovative software development allowed him to construct a robust technical and financial evidence report detailing their key projects. This was then submitted to HMRC, by Crowdlab, who received a six-figure sum in R&D Tax Relief.
The money awarded has allowed Richard to confidently plan his exit from the business and finalise the sale of Crowdlab.
The sale of Crowdlab is due to be completed in early 2020. While the innovative Crowdlab app and brand will continue, the business will be owned by a large international company.
“TBAT offer a hugely valuable service to small business owners. Their tax planning and strategic advice on how to maximise the impact of claiming R&D Tax Credits, allows small business owners to re-invest the money saved, back into the business.”
Richard Owen – Founder & CEO – Crowdlab Limited
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