How to Fund your Innovation in FinTech
Is it time for your Reality Cheque? Stay ahead of competition and launch your business growth with a sustainable form of funding – R&D Tax Credits. With no upfront fees and an expert team that includes technical industry professionals & fully Chartered Accountants, randd uk have awarded UK businesses with over £117 Million (so far!). Keep reading to find out how to claim potentially large cash awards for your business year after year. Whether you’re a start-up or a mature company already claiming with your accountant, seek specialist advice to optimise your rewards.
Recognising innovation in the technology & finance sectors
Experts in funding innovation in the technology & finance sectors, randd uk instantly recognise qualifying R&D that is more challenging to identify. Our technical experts take the time to understand the business and ensure your innovation is rewarded to the full extent.
For example, DISC Holdings are innovators in banking technology who have successfully been awarded R&D tax credits through randd uk. Based in Surrey, the company constantly push the boundaries of technology to develop a new approach to the banking system targeted at lower wealth demographics. Qualifying R&D included iterative development & problem-solving to achieve the solution with trials & focus groups for improvements.
AT Monitor is another innovative company who have developed world-first technology in the motion capture market. Iterative development has been carried out to achieve breakthroughs and AT Monitor have received patents for their work. Founder & Executive Chairman, Robert Kay said “I would encourage everybody to at least invest the time in explaining what it is they do to someone who knows how to interpret that… I would certainly encourage people to make R&D tax credit claims and I’m happy to recommend randd uk’s services.”
How can R&D tax credits boost a startup business?
If you’re a startup company, you’re in the prime position to understand and track eligible costs now to maximise the rewards available from HMRC in the future. The team at randd can offer advice on how to structure your costs on an ongoing basis and offer coaching to optimise your R&D tax credits claims as the company grows. Claiming R&D tax credits is based on retrospective work and can be backdated up to two financial years.
Already claimed with your accountant?
It’s great that you’re pushing technological boundaries and sustainably funding your innovation with R&D tax credits. Often our clients are referred by accountants who recommend randd uk’s specialist service. For example, Yvonne Jackson, Partner at Clayton & Brewill Chartered Accountants (Nottingham), said “we regularly refer our clients to randd uk and have no hesitation in doing so, knowing they take the time to understand our clients’ organisations, and provide them with expert advice in relation to R&D Tax Credits. All of the clients we’ve referred have been successful in securing credits as a result of working with randd uk.”
randd uk have found that many business owners who have previously claimed with their accountants have chronically under claimed. With over a decade of specialist experience, randd uk can submit reclaims to ensure that UK businesses don’t miss out on the full amount that they are entitled to. So how do randd uk maximise an R&D tax credits claim? As well as fully Chartered Accountants, randd uk’s expert team also includes industry experts who visit the workplace in person to identify innovation and R&D costs. As featured in the Parliamentary Review, randd uk are best practice leaders in claiming R&D tax credits and specialise in this service. The team file claims daily and have the ‘know-how’ to instantly recognise eligible companies. randd uk’s simple, yet comprehensive process ensures that a few hours of your time will reap significant rewards, with over £117K awarded to UK businesses.
What can you claim?
Although the scheme is named Research and Development (R&D) Tax Credits, any activities that strive towards innovation are eligible for this reward. A few broad examples include overcoming technological breakthroughs, developing industry-firsts (patents), streamlining processes, undertaking trial & error to achieve a challenging solution, and much more. If you’re unsure whether you qualify, randd uk’s technical experts are always on hand for a free, no obligation chat to explain the scheme and determine whether you are eligible.
So, how is your claim size calculated? Costs such as employee salaries, subcontractors, materials and utilities qualify for R&D tax credits. An R&D percentage is allocated to these costs and calculated to determine the claim size. At randd uk, we write the technical report and cross reference with the costs to determine the full amount of R&D tax credits that you’re entitled to. We also liaise with your accountant and HMRC on your behalf to ensure that your company receives the maximum financial benefit available.
Maximising Your Rewards with randd uk
Is it time for your Reality Cheque? If you are a start-up, work with randd uk pro bono to set up yourself for company growth and successful funding. If you are working with an accountant on your claim, maximise your reward with the recommended specialists, randd uk. Get in touch with the team today by calling 01332 477 070 or email firstname.lastname@example.org. We’d love to work with you and reward your innovation in FinTech.