In June 2020 THIS R&D undertook an analysis for an R&D claim on behalf of a client in the software industry based in the North East.
Industry: Software Development
Project Date: June 2020
An analysis of the company’s iterative coding practice that incorporates multiple software platforms was undertaken under the SME scheme, although as they also conducted testing on behalf of a larger multinational firm, certain costs were claimed under the RDEC scheme.
THIS R&D was able to secure a £69,265 cash rebate. This was achieved by taking up less than 3.5 hours of the client's time.
Please see the project timeline:
Project Duration: 33 Working days
- 15th June - Initial contact.
- 9th June - Introduction meeting on Zoom, after which we completed anti money laundering checks and agreement of engagement terms. We also obtained a list of staff and contractors.
- 2nd July - Technical information call on Zoom.
- 5th July - Follow up call.
- 10th July - Focused cost information request.
- 17th July - Draft amended tax returns prepared and sent.
- 20th July - Final report sent for review.
- 22nd July - Submitted to HMRC.29th July - £69,265 received for the years ended 31 July 2018 and 2019, with a further claim made in January 2021 for the year ended 31 July 2020, which will save £51,052 of tax. There will also be ongoing claims in future years.