Technology is a constantly changing innovation landscape with advances occurring in multiple areas simultaneously whether it be fintech, AI, software or hardware related innovations. R&D tax relief enables companies that work in technology to claim a significant tax rebate against expenses incurred undertaking eligible activities.
R&D tax relief for technology purposes is related to advances in areas of computing, software, algorithms and the accompanying processes. There must be scientific or technological uncertainty in achieving an advance in these areas and the solutions developed must have been non-readily deducible to a 'competent professioanl' in the field.
Technology covers many areas including FinTech, Medtech, BioTech, Healthtech, Software, AI, Quantum Computing, and Cybersecurity.
With the prevalence of artificial intelligence as well as the rapid advent and sophistication of Software technology, it's likely that claims in this sector have significantly increased to present day and will continue to do so exponentially.
The Company’s proprietary Same Game Parlay (SGP) engine initially focused on supporting pre-match bets during prior year R&D phases. The overall objective in the relevant period was to expand the system's capability to include in-play functionality. This expansion sought to provide a comprehensive and efficient SGP betting experience across different event stages and scenarios whilst managing performance.
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