Tax Savings of £10,000 for Cash Flow Solutions Company
Our client operates in the highly competitive sector of providing short term finance solutions. They also operate in a highly volatile sector whereby their clients face immediate risk due to cash flow issues. If this risk is not managed, then this has an adverse knock-on effect on their own business.
Given a competitive market, the client
- Selective Invoice Finance
- Trade Finance
- Construction Invoice Finance
- Building Materials Finance
- Stock Finance
- Creative Bad Debt Protection
- Asset Finance Bridging
- Ledger Lend.
The directors considered that existing off-the-shelf products could not meet the demands of operating several finance products within one client and also cope with various industry sector standards such as supply, retail, wholesale, logistics, manufacturing etc.
The directors are undertaking the development of software to perform the assessment, monitoring and collection from the “sale” of the
R&D costs have been claimed on the directors and employees time in developing and testing the software.
Tax benefit: Saving £10,000
The R&D claim led to cash saving of £10,000.