R&D in Financial Services: Do you invest in software and technology development?

You may be eligible for significant tax credits

Is your business missing out on valuable R&D tax relief?

Evolving customer demand has seen financial services providers increase their spend in developing and adapting software and technology in recent years. The call for on-demand services, the need for sophisticated tech in financial services is growing. Despite the increased presence of R&D in the sector, many companies are failing to maximise valuable government tax incentives. This is normally because companies are unaware they’re undertaking qualifying R&D activity, or because claims have not included the full scope of R&D activities, meaning they will receive a much smaller financial benefit.

Examples of R&D activity in Financial Services:

  • Developing real-time data processing systems
  • Developing financial software systems which offer improvements or additional functionality compared with existing systems
  • Developing novel algorithms
  • Embedding AI into the investment process
  • Improving a trading platform by adding new features
  • Creating new products or asset allocation methodologies

Our Experience

Client benefit (£)

50

Financial Services Clients

90

Average claim value (£)

152 000

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