Solve business challenges with FREE bespoke software solutions. Yes, really… FREE.
Whether it’s a custom warehouse or stock management system, field based mobile application for engineers, in-house business / customer management systems or simply linking up / synchronising existing systems to streamline your business processes; business challenges can often be overcome through the implementation of bespoke software solutions that solve specific problems in your business. Thinking outside the box and driving innovation in your business will ensure you stay ahead of your competitors and run your business cost effectively.
But wait… Bespoke software development is expensive, right?…
Well, it can be… But if it falls under the R&D Scheme it may actually be ‘FREE’!
What is the R&D Scheme?
Research and Development (R&D) tax relief is a Government initiative to drive innovation through Research and Development and this relief can either be used to reduce your company’s tax liability or, in some cases, enable you to obtain a cash repayment – the R&D tax credit. R&D tax relief is only available for companies – and there are two different schemes depending on the size of your company.
Does Software Development / App Development count towards R&D?
Software development is often overlooked for R&D tax relief purposes, especially where a company undertakes a single project, such as implementing a new system and does not realise that this is eligible for R&D relief. Many of these and many other activities of specialist software developers will qualify, but they are often not claimed as there is a misconception that either their activities will not qualify or it is too difficult to claim.
The development of new software products or systems normally involves technological challenges and uncertainties, and even after release, the fast-moving pace of technology standards can often be a key driver for further enhancement which may be subject to R&D relief in themselves.
What counts as R&D?
We have set out below a few examples of software development activities that we have agreed to be considered “R&D” with HMRC;
Making noticeable improvements to existing systems, such as increased performance or security, or improved scalability
Integration of various individual components and functionality into a single streamlined system
Synchronisation of two different systems such as your system with a client’s system, or bespoke CRM system with an off the shelf accounting package
Creation of a new, bespoke software system for the business (either with or without assistance from a software development firm)
Developing new operating systems or languages
Creating new search engines using materially new search methods
Resolving certain conflicts within hardware or software
Creating new or more efficient algorithms whose improvements depend on previously untried techniques
Creation of new encryption or security techniques that do not follow established methodologies
Aspects of video games development, such as increasingly realistic graphics, sound or playability (e.g. car handling in a racing game) or development of existing games to work on new platforms taking into account advances in the video game hardware.
How can I find out more?
As experienced Software and App Developers, Square Media Solutions are well equipped to provide you with information about how we can utilise Software Development as a tool to patch up business processes and improve how your company operates. Arrange a meeting with one of our consultants and we will offer free, impartial advice as to the viability of your intended project. As part of this process we will discuss how you could claim back 75 %to 100% of total projects costs under the R&D schemes as well as investigating if additional grants and allowances might help support your project.
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