R&D in Fintech
Industry Spotlight
How might fintech qualify for R&D tax relief?
A fintech company engaged in research and development (R&D) activity typically focuses on developing new technologies, processes, or services to improve financial services.
Here are some examples of how a fintech company might carry out R&D activity:
A fintech company might develop new payment processing technologies or improve existing ones. This could involve developing new payment methods or improving transaction speed and security.
A fintech company might conduct research in the field of blockchain technology to develop new use cases or improve existing ones.
This could involve developing new applications for smart contracts, decentralized finance (DeFi), or digital currencies.
A fintech company might develop new technologies or processes for fraud detection and prevention. This could involve developing new algorithms for detecting fraudulent transactions or improving identity verification processes.
A fintech company might develop new technologies or services for wealth management. This could involve developing new robo-advisory services, financial planning tools, or investment products.
A fintech company might develop new technologies or services for digital lending. This could involve developing new underwriting algorithms, loan origination processes, or loan servicing tools.
A fintech company might develop new technologies or services for risk management. This could involve developing new risk assessment tools or improving credit risk models.
A fintech company might develop new technologies or services for open banking. This could involve developing new APIs, data analytics tools, or payment gateways to facilitate financial data sharing between banks and other financial institutions.
Doing anything innovative or industry advancing?
Get in touch today to book your FREE discovery call.
Has your company engaged in this type of activity in the past?
If you believe your Fintech company could benefit from R&D tax relief, please do not hesitate to contact us today.
Our team of experts is here to help you navigate the complexities of research and development tax relief and ensure that you receive the maximum benefit for your innovative work.
Get in touch today to book a FREE discovery call.
R&D Tax Relief
From initial discovery call and information gathering through to claim preparation, supporting documentation and submission. We're your expert partner in R&D tax relief submissions.
RDEC
For larger companies we can support claim preparations under the RDEC (Research & Development Expenditure Credit) scheme, ensuring robust, defensible and maximised claims .
HMRC Enquiry Support
We'll liaise with HMRC on your behalf, ensuring no unnecessary delays on receiving your claim and no unfair reductions. This service is provided as standard for our clients.
R&D Claim Review
If you're making an R&D tax relief claim, our team can help ensure you're compliant with the latest legislation and identify any potential claim uplift. Speak to our team for more information.
Partner Program
If you work with innovative businesses and you're interested in partnering with us to ensure your clients are maximising their R&D tax relief, speak to our partner program lead.
Accountancy Services
Through BC&A Chartered Accountants, we offer a range of accountancy services including company formations, business planning, taxation and compliance services and more.