Industry: Software development
Time Saved: 7.5 hours
Fee Saved: 50%-75%
What does Alian LTD do?
Alian Ltd (trade name Farad.ai) is a clean tech software developer. The company is developing an AI powered digital twin of the UK’s power network.
What R&D activity did you undertake?
We provide project developers of Low Carbon Technology (LCT) with significantly better visibility of their grid connection opportunities. Farad.ai’s aim is to map out the grid for different utilities to help stakeholders get a real-time view of the energy system and anticipate demand, filling a unique gap in the market.
What challenges did you face with regards to your R&D claim?
Before starting the R&D tax relief process with SeedLegals, we did not have any comprehensive guidance on how to make a successful R&D claim. We weren’t sure of the following –
- what qualifies for R&D tax relief
- which costs can be claimed
- what information needs to be submitted to HMRC
- how to maximise our claim
We understood this process to be lengthy and thought it would be even more time consuming without the right guidance. We were also weary of compliance risks and wanted to ensure that we were giving the correct information in our R&D claim to. While the market has many R&D providers, we wanted to choose someone we could trust who could offer us the service for a reasonable price.
Faced with these challenges, we decided to contact SeedLegals to help with our R&D claim.
How did SeedLegals help you to overcome the challenges mentioned?
SeedLegals helped us overcome the challenges we faced in making a successful claim. SeedLegals offered to do the R&D claim for us for a reasonable price (5% of the claim), as opposed to some other specialists in the industry that can charge as high as 20% of the claim. Without SeedLegals, we would have probably done the claim ourselves and taken the risk.
Firstly, SeedLegals helped us identify the activities we were undertaking that qualified for R&D tax relief and the expenditure eligible for R&D tax relief. They also gave us comprehensive guidance on how to make an R&D claim and what information needs to be given to HMRC to make a successful R&D claim. So we simply followed the guidance and structure SeedLegals gave for the claim.
Secondly, SeedLegals’ accountants and experts carried out thorough reviews of our claim and its calculations to ensure that we truly qualified for R&D tax relief and the costs we included were accurate. We know that the calculations of R&D eligible costs can be complicated so we were in safe hands, while knowing that our claim will be maximised.
SeedLegals support certainly saved us lots of time and money, while increasing our changes of making a successful R&D claim.