Our R&D Tax Credit service enabled The Depositary to accelerate growth.
After being wrongly informed by their accountant that their business was not eligible for R&D Tax Relief, Claim Capital secured a substantial cashflow boost for The Depositary.
About The Depositary
The Depositary streamlines and automates the tenancy conclusion process, from notice of tenancy termination right the way through to the refund of deposits. Their innovative software platform is the first product of its kind and aims to modernise the residential estate agency market.
Co-Founders Kristjan and An carried out innovative research and development (R&D) to ensure their technology was fully complaint with the complex deposit regulations that come with tenant liabilities, and to provide the customisable operation that their target client base would need.
How will The Depositary re-invest the R&D claim benefit?
Kristjan told us that The Depositary managed to reclaim sufficient funds to map out their next 18 months, and pursue their next stage of growth, faster.
"Thanks to our R&D Tax Credits, planned modules, products, and integrations of The Depositary will be able to come to life sooner than we'd envisioned”.
Kristjan pointed out that they were delighted to be able to "mitigate the monetary losses that are part and parcel of growing a business".
Why did The Depositary choose Claim Capital?
After comparing several R&D Tax Advisors, Kristjan and the team found that “Claim Capital offers the most cost-efficient route”.
It was concerning to hear that their accountants initially told them that The Depositary was not eligible for R&D Tax Credits - when our experts found significant costs incurred in areas of qualifying R&D expenditure. For Kristjan, this experienced, specialist approach was a major draw towards Claim Capital. The Depositary was impressed with Claim Capital’s “expert knowledge of the tech space, proactive approach and pledge to submit to HMRC within a 3–5 day window”.
What advice would Unissu give to companies who aren’t claiming R&D tax credits?
"Founders not claiming R&D Tax relief are doing their business a disservice. If you’re a time-poor founder that’s struggling to prioritize R&D Tax Claims within your workday, or if your accountant isn’t clued up on the tech world, then it’s an absolute no brainer to engage Claim Capital.”
Faultless - whole-heartedly recommend to any companies seeking a service to manage annual R&D claims.
Kristjan Byfield, Co-Founder