Software & IT

How to fund your innovation in the Software & IT industry

Software & IT is an industry that is firmly integrated into our lives; we use emerging Software & IT technologies as part of our daily routine. We rely on software programmes at work, apps on our phone, cloud software to store data, and e-commerce sites to order our weekly food shop!

We’re increasingly embracing the Internet of Things (IoT) including fitness trackers; light, heating and security systems you can control from your phone; and, phones/tablets themselves. It’s predicted that by 2025, there will be over 75 billion connected devices worldwide; making innovation in this industry inevitable!

Funding this innovation process is critical to keep your business and technology at the forefront of this rapidly changing market.

The R&D Tax Relief scheme is an HMRC incentive designed to inspire innovation and increased spending on R&D activities by companies operating in the UK.

The integration of new Software & IT technology into another industry sector is considered an eligible R&D activity. For example;

  • robotics being programmed for use in extreme environments
  • bespoke apps to track our wellbeing & connect the user to medical advice
  • augmented reality (AR) & virtual reality (VR) being used for training purposes
  • artificial intelligence (AI) & machine learning algorithms being used to analyse video data of railway infrastructure to identify structural changes

When considering the work that Software & IT developers undertake, the following are examples of eligible R&D activities:

  • System feasibility
  • Creating algorithms
  • Bespoke metric analytics
  • Custom databases or CRM’s
  • Development of automated testing software
  • Bug fixing – which required further testing and development

If your business is developing something new and is an advance in overall knowledge in a field of science or technology, then it’s highly likely that you should be claiming R&D Tax Relief.

HMRC Statistics for R&D Tax Credit claims shows that the Information & Communication sector has the second largest number of claims overall, with the average claim for an SME business being over £57,000.

R&D Tax Calculator

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Case Studies

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!

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Bulb Studios were referred to TBAT after thinking they were not eligible for R&D Tax Credits.

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TBAT were recommended to Hallam Internet as the effective and trustworthy partner to engage for their R&D Tax Claim.

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After meeting at a Santander event, EWS Digital approached TBAT to complete their R&D Tax Credit claims.

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TBAT was commissioned to undertake work for a SME specialising in software development work, consultancy and web development to claim R & D tax credits on several years of work.

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Funding Calls

Closes: 22nd Apr 2020

Get in touch

TBAT Innovation Limited

Unit 3 Bradley Court,
Maple Road, Trent Lane
Castle Donington
Derby, DE74 2UT

Innovation Centre,
Milton Park,
Abingdon,
Oxfordshire OX14 4SH

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In light of recent updates from the UK Government regarding the COVID-19 outbreak, TBAT have taken the advice given for businesses to ensure employee safety. Therefore, from today onwards all team members will be working from home, until further notice. We would like to take this opportunity to reassure you that we are operating 'business as usual' while the team are working from home and that we all have the necessary equipment and tools in place to continue delivering services as usual.