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R&D – Financial services

Sector – Financial services
Company Size – £1.5m Turnover
Qualifying Costs – £368,160 (2 years)

Our client is a family run management consulting company, based in England.

What type of work does the company do?
The company operates predominantly in the financial services market offering longer term business improvement and budgetary control mechanisms.

What R&D work was completed?
The company undertook a project to design and build a fully integrated and replicable cost reduction and planning and budgeting methodology. This entailed specialist design of a brand new system and then a series of testing until a robust methodology was proven. The primary challenge was to ensure that the different parts of the system could work together, not in isolation, which represented the significant advancement in technology in the sector.

What was the outcome?
As a result of the R&D claim, our client received tax savings of £90,936 (2 years).

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