Technology sector case study

What was the problem?

Our client was a start up in the technology sector developing a unique piece of software with great potential.

As is often the problem with this type of start up the business needed a lot of money to pay for development of the software and the costs were starting to mount up long before it was likely that the software would be ready to take to market.

This created a cash flow issue for our client who asked us for help.

How we helped find a solution

We had a look at the business and spoke with our client to make sure that we really understood what the business was trying to do and what the challenges were.

We identified that there was a potential R&D tax credit claim to be made for the software development costs and that this could mean a payment into the business from HMRC.

We introduced our client to a specialist in the R&D tax credit field and passed on all the information needed to make the claim.

What was the outcome?

The client received a substantial sum from HMRC in payment of R&D tax credits. This helped out enormously with cash flow and allowed our client to have access to vital funding to continue with the development of the software.