A business loan and equipment leasing company prove that financial and professional services R&D can also be eligible for HMRCs R&D tax credits.
Development of a new business loans service platform that would integrate with their current office and website systems.
Advance in Science or Technology
The company had to create a completely new IT infrastructure that would involve:
- Understanding the complex compliance requirements of the FCA (Financial Conduct Authority)
- Development of a front-end website portal for customers
- Development of a connecting business loan office management system
- Development of a back-end portal that directly interfaces with banks and funders
- Bespoke APIs to enable data transfer between the three platforms
The company faced the following key uncertainties:
- Could they integrate the office management and website systems?
- How would they conform to FCA standards?
- Would it be possible to design, develop and integrate the three separate parts of the platform?
- Would the developments result in a beneficial tool?
Total Business Benefit
£9K Corporation Tax was recovered.