Software is everywhere. In every part of business, the use of new software applications is transforming the way that companies operate in terms of their understanding of the world and the connections they make with their customers.
Varied fields, such as SaaS, engineering and Blockchain are capturing the attention of the media, but there are applications in companies large and small from every corner of commerce.
New software can smooth the way we work, add vital clarity over what happens for the team and make extra income among other benefits. The way that these are applied can literally transform processes and procedures for the better, making a brighter future. This can be for one or more of a number of reasons
-To innovate and stay ahead of the competition
-Automating processes to save costs and boost revenue
-Online commerce options to widen a market for products and services
The North East is a hotbed of digital progress and these solutions are often not that far away. People and businesses are moving to online and mobile options for their everyday transactions and this means the agile company must cater for this. The trend is that the investment in software has become much more bespoke over the last few years. In the past, off the shelf solutions were chosen because of cost. As expertise has risen, there are bespoke software solutions produced that serve a specific purpose and don’t cost the earth. The trend is to get a business to make something that is unique and personalised.
Building a unique future
And this is one of the ways that any business can differentiate itself from its rivals. Being able to offer products, services, cost savings or anything else for that matter, that nobody else does or can do is a great definition of competitive advantage. And that’s something that all business strives for.
This can happen for a small business now in a way that never happened before. Using an in-house developer or contracting someone to build from the ground up is within reach now more than ever. Although these costs are a lot lower than they were in the past, every investment made by business is assessed for ROI and must more than pay its way to make it worthwhile. It can be a worry for small business to spend and not know if the results are positive enough to provide that vital return.
But it doesn’t always have to be this way. There is a government incentive that can help business across the North East and beyond offset some of the costs of developing new software and lessening the potential risk of this.
Risk is at the centre of any business. The UK government has recognised this and wants to help. Through HMRC, they have established R&D tax credits that are designed to reward any business that invests in software, as well as other areas of investment, to progress their business. The idea behind it is that this investment increases our understanding and makes the UK a more competitive place. With Brexit on the way, this is becoming more vital to our position in the global pecking order.
Finding a partner to help you with this .
Getting software produced takes up enough of your valuable time in terms of ideas, planning and testing. The last thing you want to do at the end of this process is to start negotiation with HMRC regarding your R&D tax credit claim. That’s where you need the help of an expert. You should look for someone that has a track record in dealing with R&D tax to ensure that your claim is processed in an orderly, effective and timely manner.
At Harlands, we have a 100% record with the HMRC in terms of submitting claims. This doesn’t mean we don’t get asked queries from HMRC. However, we know our stuff inside out, and this means we are able to produce the reports needed that answer all the question HMRC have. It only takes us around half an hour of our time to understand your business and where your investment in software is eligible for an R&D tax claim. The average size of a claim we submit on behalf of our clients is over £35k and this translates to a large sum of money coming back into a business.
