Research and Development tax
In only a few weeks, we progressed from holding initial discussions about our R&D activities to PM+M submitting a claim to HMRC. The process helped us to claim back nearly £20,000 that we wouldn’t otherwise have been able to invest in the ongoing development of the business.Our client, a software development business focusing on the hospitality sector
About our client
A software development company working within the hospitality sector approached PM+M for advice surrounding R&D tax.
How PM+M helped
We began by discussing R&D tax credits with the company to assess eligible areas of software related R&D activities. Within one week, working to a tight deadline, we submitted a claim with a cash benefit of circa £20,000.
Within six weeks, the repayment had been processed by HMRC and the funds were received by the company.
Going forward, we are working with the company to assess and quantify the next two accounting periods and put records in place to ensure easier quantification of future R&D claims.
How making a claim impacted the business
SIGNIFICANT CASH REPAYMENTThe company received over £20,000 which was then re-invested into other areas of the business
QUICK RESULTSWith the process taking only six weeks from initial discussions to receiving the tax credits from HMRC
INSIGHT FOR FUTURE CLAIMSPM+M is supporting the company with streamlining their R&D processes to assist with future claims
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