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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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!Read case study
Bulb Studios were referred to TBAT after thinking they were not eligible for R&D Tax Credits.Read case study
TBAT were recommended to Hallam Internet as the effective and trustworthy partner to engage for their R&D Tax Claim.Read case study
After meeting at a Santander event, EWS Digital approached TBAT to complete their R&D Tax Credit claims.Read case study
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.Read case study