Fintech is one of the fastest growing sectors in the UK; according to figures published by the government, investment into UK fintech stood at $4.1 billion in 2020 – more than the next 4 European countries combined.
And with Chancellor of the Exchequer, Rishi Sunak, describing fintech as “one of the UK’s great success stories [that] will help us seize new opportunities around the world” it is fundamental that the Fintech sector is supported and has access to funding to help innovation flourish. The Chancellor himself recognises the importance of the government’s role in supporting this exciting industry to “retain the UK’s fintech crown, create more skilled jobs, and deliver better financial services for people and businesses”.
In the last few years there have been a number of government led initiatives to provide different types of funding to FinTech’s, however in addition to these initiatives, it is important that businesses remember the value and cash available from R&D tax credits - particularly given the recent announcement by the Chancellor that the government intends to expand the scope of R&D tax credits to include cloud computing and data acquisition costs. Given the huge amounts that these businesses continue to invest in these types of technology, it’s more important than ever that businesses understand and access the value that an R&D credit claims can unlock - with up to 33% cashback available.
Having helped a variety of FinTech’s from start-ups to some of the largest Challenger banks, we understand how best to optimise claims - by identifying and preparing claims in real-time.
Claiming the correct amount, in real time.