R&D Tax Credit | Software & IT
Software and IT companies are engaged in constant efforts to improve their products, and at Braithwaite we have the expert knowledge and experience to deal with your R&D Tax Credit claims in the Software & IT industry.
R&D TAX CREDIT IRELAND
Software & IT
In order to drive business growth and meet the expectations of increasingly demanding customers, businesses in the Software & IT industry must take risks, experiment and innovate or face inevitable stagnation in a brutally competitive industry – in other words, they must carry out R&D.
R&D tax credits can offer companies in the Software & IT industry a financial boost that enables further research and innovation for the development of groundbreaking solutions. As a result, this capability allows companies to stay ahead of the competition while simultaneously supporting growth.
Key questions on R&D in Software & IT
Each industry faces its own challenges when filing an R&D claim. There are some items that are easier to identify when claiming and other items are in the “grey area”. Here are some questions companies should be asking when filing a software claim.
The company can still be eligible if they extended it or modified it to overcome limitations/deficiencies. We find that 80% of claims nowadays involves some opensource but are still eligible.
Almost everybody uses existing software languages and they are still eligible. It is not what language they use but rather what creative uses they find with/for it. 99% of claims nowadays involve some existing software languages but they are still eligible.
Many large companies do internal software development for internal processes. This could be eligible but is usually overlooked.
Simple website development tends to be harder to qualify and usually, the costs/fees are low. However, developing re-usable tools/techniques for website development can be lucrative.
Examples of qualifying activity
- Development of new operating systems
- Developing new generic methods of capturing, transmitting, storing, retrieving or manipulating, searching or securing data
- Development of software to run new types of computer hardware, particularly where there are conflicts between hardware and software
- Development of new software framework and/or architecture
What Braithwaite can do for you
We possess the knowledge of what to include in your claims, the methods to use during the claiming process, and notably, the numerous traps to steer clear of. With our guidance, your company can confidently pursue robust, successful, and compliant R&D tax relief endeavours tailored to the Software & IT industry.
Contact us today for further information: [email protected].
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