The 3D Mapping Company mission is to help people like architects, real estate developers and local authorities, to organise, visualise & analyse city data so they can make better building decisions.
The Company approached us to help them apply for the Research and Development tax relief. They had invested heavily in developing innovative technology and needed the help of the R&D specialists at Optimal Compliance to help them maximise their claim value.
Following our initial meeting in June 2019, our R&D sector specialists spend a couple of afternoons with the development team trying to understand the different types of products. By taking the time to talk to the employees and do a workshop at the business, we were able to identify an extensive list of potential projects that could qualify for the Research and Development tax scheme.
We then returned to home base and began collated our findings into a detailed report that systematically explained each project the 3D Mapping Company was doing, and why it is innovative and qualifies for R&D tax relief. Liaising with our accountants, we were able to calculate a sizable financial package for the company. We then presented it to the client. Once the 3D Mapping Company was satisfied with the report, we submitted all the details to HMRC.
Within six weeks, HMRC had processed the claim, and the company received their Research and Development tax credit via a bank transfer. With no further questions asked.
This case study highlights the diversity in the types of projects that can be considered for Research and Development tax relief within the construction sector. Sometimes to understand whether a business is doing work that qualifies for R&D tax relief, it takes an outside opinion of a trained R&D specialist, such as the ones we have at Optimal Compliance.
To learn more about the different types of projects within the construction sector that may qualify, click here. Alternatively, you can click here to a document published by the HMRC on Research and Development Tax Relief. If you rather talk to one of our R&D specialists or think you may qualify, please visit the contact us page and schedule a free consultation at the time that best suits you.
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