The UK software industry has received over £15 billion in R&D funding through this scheme, with “Information and Communication” being the second-largest SME R&D tax credit applicant sector, with 12,165 claims in 2019 (23% of all UK claims) mostly for software development.
Regardless of the type of software development or engineering your company is engaged in, it may qualify for R&D Tax Relief. If your company is involved in resolving technological uncertainty in an innovative field, it’s likely you’re eligible for the 12,000+ companies that can benefit from this scheme.
However, software claims are more complex than manufacturing claims and defining software development R&D can be challenging. Our webpage summarizes HMRC rules and offers insights from our own software claims experience.
we suggest evaluating your project against the following three criteria to determine if it meets the requirements for R&D classification in the eyes of HMRC Is there technological uncertainty?
Our Expert team of knowledgeable sector specialists, software consultants, accountants, and former-HMRC tax inspectors can uncover R&D expenditure in software projects that other advisers miss.
Our team of sector specialists, software consultants, accountants, and former HMRC tax inspectors can help uncover R&D expenditure in software projects that other advisors may miss. Schedule a free appointment with us to determine your eligibility and total R&D tax position, and let us create a claim that minimizes your potential exposure to HMRC inquiries and maximizes your benefits.
It was a pleasure working with the guys at Bonham & Brook, especially considering that, with the wealth of knowledge backed up with the expertise of an ex HMRC officer, we had confidence going ahead with a claim for the first time. After successfully receiving a substantial refund, we would not hesitate doing another claim and, it goes without saying, Bonham & Brook will be our preferred partners going forward. Thank you, again.
We worked with the team at Bonham & Brook on the R&D claim that we were unaware of. To our surprise they made the whole process seamless and we received our refund from HMRC. We will definitely be using B&B again for our R&D claim to help us grow our business.
At first I believed that R&D tax credits were a little too good to be true or that my company would not be applicable. Jenson, Hannad and the team's expertise and experience reassured and guided me through the process. I had to put in approx. 1 - 2 hours work and they did the rest of the application. The first time we worked together they were able to claim for the previous 2 years, so we received a bumper double rebate. This money has helped us grow the business by having the cash to grow the team and increase our marketing budget. My business has grown thanks to their work, so I am eternally grateful.
Managing & Creative Director
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