Our client was satisfied by a claim of £22k for the 3 tax periods, particularly as it only required minimal effort on their part.
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. As organisations rich in digital assets aspire to faster decision-making and improved team collaboration, their product empowers organisations to transform digital data into interactive, real-time visualisation, shareable through 3D PDF technical documents. With embedded 3D interactive models much more can be communicated than with traditional 2D static images.
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. The solution is to be applicable across a wide range of 3D data software in engineering, GIS and geospatial fields with far smaller and transportable file sizes. Such scientific data is often very large, where efficient compression techniques become critical. The project, which spanned the 3 years in question, was developed to surpass competitive systems.
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:
- the scientific/technological aims of each project
- technical challenges for each part of the project and the overall product development
- how each challenge was overcome status quo (industry knowledge) v. company knowledge for overcoming challenges and advancing the scientific/technological knowledge or capability