R&D Tax Credits in the IT, Technology & Software Sector
The technology sector is one of the fastest growing sectors in the UK and as such is one of the key areas for R&D tax relief. For companies involved in many different aspects of technology from software and hardware development, to artificial intelligence, augmented reality, cloud computing and internet of things (IoT), R&D lies at the heart of what they do.
Could you qualify for R&D Tax Credits in this sector?
Qualifying Examples of R&D Tax Credits in the IT, technology & software sector
The R&D tax credit scheme rewards any company whose work seeks to resolve a ‘scientific or technological uncertainty’. Qualifying activities may include:
- Developing state-of-the-art software for new projects or improving the functionality of existing ones.
- Combining two or more existing technologies in a unique way e.g. integrating software with new computer hardware.
- Developing innovative cloud software and tooling systems.
- Writing new systems such as apps or management tools as well as fundamental technical updates following software advances made by 3rd party software providers.
- Devising innovative methods for capturing, transmitting, manipulating and protecting data.
Further information on projects that count as R&D can be found on the Government website: here
Our work in the IT, technology & software sector
A UK based ad-tech company, serving in the global market for audio advertising developed a multi-lingual cloud-based radio advertising package.
Libcus recovered £81,000 for the client.
A specialist data company focusing on creating a complete picture of a company’s data landscape developed a data remidation software for major financial institutions.
Libcus recovered £708,000 for the client.
Other industries eligible for R&D Tax Claims
Our technical specialists regularly process successful claims in the IT, technology & software sector. However many other industries are eligible to claim R&D Tax Credits. For more informaiton on other industries and examples of claims, please click on the links below:
Manufacturing
The importance of a successful manufacturing industry lies at the heart of any economy, and today more than ever flexibility in adapting to ever changing customer requirements is vital for future prosperity.
Food & Beverage
R&D has always played a part in the food & beverage industry but is constantly increasing as awareness of allergies and healthier types of food and drinks grow in demand but where taste remains a key factor.
Environmental & Renewable Energy
With the effects of climate change on our planet at the top of the government agenda, renewable energy and the protection of our environment are one of the most important areas for R&D sectors of this decade.
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