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Please contact us to discuss how working with Myriad Associates can maximise and secure R&D funding opportunities for your business.
Thousands of businesses – large, medium and small – have already received generous R&D tax credits directly from HMRC. LOSS MAKING businesses receive back up to 33% of their R&D spend whilst PROFIT MAKING businesses receive up to 26%.
Let me ask you this very simple question – ‘At the start of the project, did you face any ‘HEAD SCRATCHING’ moments due to technical uncertainties?”
I am usually amazed at what follows next – My clients generally respond with “We are facing technical challenges and project uncertainties on a daily basis” and then proceed to tell me about their ‘head scratching’ moments.
On many occasions, I visit clients to discover that they consider resolving technical issues as part of their day to day job and were unaware that their work actually qualified for R&D tax credits.
A software project would need to encounter technological uncertainties, the resolutions of which could not be readily resolved by a competent professional working elsewhere in the field. A successful outcome of a project would also need to lead to an overall advancement in technology.
It is virtually impossible to list all eligible software projects, however the below list will give you a flavour of what typically qualifies for R&D tax credits:
This is just a list of example eligible projects and many other software projects would also qualify for R&D tax credits. Each software project will need to be reviewed on its own merits and this will include undertaking a comparison between industry capability at the beginning of the project and that sought by the project.
Find out more about R&D tax credits and Myriad’s industry-leading approach and claiming process.
This post was written by Barrie Dowsett who is the CEO of Myriad Associates and a qualified Chartered Management Accountant. Barrie has over 20 years experience in senior Finance Director positions and has been responsible for making R&D tax credits claims going back to 2001.